Loan & Finance Tips on Your Finger Tips

Availing an overdraft facility is increasingly getting common among people. A lot of applications go for overdraft as the increasing inflation often makes the savings account balance insufficient to carry out a normal routine. Yes, an overdraft is nothing but a credit offered to individuals allowing them to withdraw money beyond the savings account balance. And so, its importance can’t be undermined by any stretch of the imagination. However, one must compare the overdraft interest rate of different banks before choosing one out of them. The interest rate of several banks is pointed out in the article to help you compare and choose the best. SBI Overdraft Interest Rate SBI offers overdraft facility to a variety of customers including defence personnel, power sector employees, etc. Defence personnel gets to pay the overdraft at 12.05%-12.55% per annum. Employees working in companies involved in businesses related to power generation and distribution would be offered overdraft...

Overdraft facility is quite helpful in times when you need money. It is a boon if you do not want to take a loan or maybe not even eligible for it. This is a feature of taking loan against securities such as fixed deposits. Fixed deposits are the oldest and most trusted investment options in today’s time as well. Those who have maintained an FD account can take overdraft loan. Which banks give overdraft facility in India? In the times when there is shortfall of money, you can take an overdraft facility. Considering these as most normal need or prerequisite of an individual, we have concentrated on the rundown of banks where you can get these. You can apply for an overdraft against any type of security submitted at the bank. The securities against which OD is available are - FD, Mutual Funds, Stocks, and Savings account. You can also an overdraft against your home loan or personal loan . To know how this happens, read below. How can you get overdraft against your ho...