Bank Overdraft Fees

 



Bank Overdraft Fees

Bank overdraft is a financial instrument that allows borrowers to withdraw money from their current or savings accounts, even if their account balance goes below zero. This type of credit facility offered by various bank & financial institutions to fulfill short-term requirements. The bank charges a certain interest rate on withdrawn money in the form of overdraft.

Apply Online Click Here:-Bank Overdraft

Benefits of Bank Overdraft:-

  • Overdraft money can be utilized for cash flow management
  • Help in fulfilling short-term requirements
  • No collateral or security required by lender
  • Interest is paid only on utilized money
  • Facility offered to bank account holders
  • Minimum document is required for credit sanction

Overdraft is a type of loan offered by bank or financial institutions that allow borrowers to cover expenses even when the account reaches zero balance. However, lenders charge bank overdraft fee for one time at nominal cost & interest rate shall charge on outstanding balance.

Compare overdraft fee by Top banks

  • Bank of Baroda – 9.90% *
  • Bank of India – 8.35%*
  • Canara Bank – 11.70%*
  • Central Bank of India – 10.10%
  • HDFC Bank – 7.25%*
  • ICICI Bank – 7.75%*
  • IDFC First Bank – 9.50%*
  • Indian Bank – 9.50%

Check your eligibility before you apply for bank overdraft through financeseva to avail best deals.

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