Overdraft Facilities
An overdraft facility is a short-term credit facility linked to your Personal or Corporate Chequing Account. It is ideal for handling changes in your cash flow and gives you access to additional funds up to an approved limit.
Benefits of an Overdraft Facility:
- There is no need to open a separate account since the facility is linked to your chequing account.
- The overdraft facility can be utilized as the need arises, whether maximum or partial utilization.
- Interest is only applied to the portion of the overdraft you have utilized.