Overdraft Accounts Service

We are engaged in offering excellent quality Overdraft Accounts Service to our valuable clients. An Overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. This negative amount within the authorized overdraft limit and interest will be charged only negative amount and only negative period and also 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. In this situation the account is said to be "overdrawn".
The difference in both of these CC and OD limit. In the case of Cash Credit, a proper limit is sanctioned which normally is a certain percentage of the value of the commodities/debts pledged by the account holder with the Bank. Overdraft, on the other hand, is allowed against a host of other securities including financial instruments like shares, units of mutual funds, LIC policy, debentures, Property include personal property etc.