Sometimes we get upset and frustrated when we need money suddenly. But let us tell you that such a facility is given by banks to their customers, due to which customers can take a loan of more than the money available in the bank. This facility is called overdraft.
We often get upset when we need money, ask friends and relatives for loans. But such a facility is also given to you by the bank, with the help of which you can take a loan of more amount than the amount available in your bank. Yes, you can take advantage of this facility of the bank in any bad time. For this, you just have to take care of some important things. Let us know how you can take advantage of overdraft facility.
What is overdraft facility
Most bank customers understand that they can withdraw only the amount of money in the bank account, but it is not so, you can actually withdraw more money than this amount. For this, many banks and non-banking financial companies offer this facility to their customers. gives. You can take advantage of this when there is any kind of emergency.
How to get this facility
This facility is pre-approved by banks and non-banking financial companies to some of their customers. At the same time, some customers have to apply separately for this. For this, application can also be made by visiting the bank branch or through online internet banking. Before applying for this, you must also take information from the bank about the processing fees and other important things related to it. Sometimes banks also provide overdraft facility with salary account. There can be an overdraft limit of 2-3 times your salary. But for this, your account should be in the same bank where you have your salary account.
