Overdraft facilities against deposits provide flexibility to account holders by allowing them to temporarily access additional funds when needed, but it’s essential to manage this facility responsibly to avoid accumulating high-interest charges and potential penalties for non-repayment.
If you have a long-standing relationship with the bank and have maintained your deposit account with them for an extended period, you may be more likely to qualify for an overdraft facility.
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KYC Documents of the customer |
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