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Overdraft Explained: Fees, Protection, and Types
An overdraft occurs when there isn't enough money in an account for a transaction or withdrawal, but the bank covers the transaction anyway.
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Best Hack for Salaried Person 🌱An overdraft facility is a type of loan that allows you to borrow money from your bank when your account balance falls below zero. 🌱The amount of money you can borrow depends on your credit score and the terms of your overdraft agreement. 🌱Interest is charged on the amount you borrow, and it is usually higher than the interest rate on a regular loan. 🌱Overdraft facilities can be a good way to cover unexpected expenses, but they should be used carefully to avoid
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