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Business Overdraft

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be "overdrawn". If there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, the interest is normally charged at the agreed rate. If the negative balance exceeds the agreed terms, then additional fees may be charged and higher interest rates may apply.


Business Overdraft is a flexible source of funding to augment working capital and business expansion requirements. Revolving line of credit with no fixed monthly repayments.


There is no fixed monthly repayments and amounts repaid can be redrawn as long as it is within the limit granted. Interest is only charged on loan amount used and a larger limit can be granted if a collateral is pledged.