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Similar to a Working Capital Loan,
we provide Overdraft limit on your Current Account
for meeting working capital requirements. The features
of our Overdraft facility are as follows:
- A predetermined overdraft limit will be approved
for your Current Account
- Interest is applicable on daily overdrawn balance
and payable on quarterly basis
- Interest rates on Overdraft facility is slightly
higher than the Working Capital facility as you
have the flexibility of depositing and withdrawing
funds from your Overdraft Account on your own
will, and the interest being charged on your overdrawn
amount
- The facility will be renewed on an annual basis
and/ or as per your working capital cycle, based
on your performance and account movements or you
have the option of settling the principal due
at maturity
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