OD Limit or Overdraft Limit is an Instrument or Financial Facility that enables you to withdraw money from your bank account (savings or current), even if you do not have any account balance. Like any other credit facility, the bank levies an interest rate when you avail the overdraft facility. You typically have to pay a fixed interest rate to avail an overdraft limit. What is OD Limit or Overdraft Facility ? An OD Limit or Overdraft Limit allows customers to use or withdraw money from their account up to…
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