look news india
Most people get worried when they do not have money in the bank. However, you will be surprised to know that even if you do not have a single rupee in your bank account, you can withdraw Rs 10,000.
Some banks can withdraw money even if there is zero balance in your account. This facility is called overdraft facility. Some banks provide overdraft facility on current account and savings account.
In this facility provided by the bank, even if the customer does not have a single rupee in his account, he can withdraw an amount of Rs 10,000 or more. Different banks offer different overdraft limits. Which you can remove as per your limit and requirement.
Let us tell you that the facility of overdraft limit is not provided free of cost to any customer by the bank. In return, you have to repay the amount borrowed from the bank and the bank also charges interest on it.
Overdraft facility is a type of loan given by the bank to the customer. The most special thing about this loan is that to take it you do not need to do much formality nor do you need to fill any form.
Under this facility, you can withdraw Rs 10,000 or up to your limit from your bank account, which will later be deposited in the bank with interest. It can be used during emergency.
