Finment Capital India Pvt Ltd. provides Overdraft Facility which is a financial instrument in which you can withdraw money from your savings or current account, even if your account balance is zero. This feature is provided by almost every financial institution, including banks and NBFCs.
Overdraft facility is a type of short-term loan to be repaid in defined tenure, as required by the financial institutions. Lenders shall levy the interest rates that the borrower needs to repay, as per the bank’s terms and conditions. In the case of Overdraft, the type of interest rates offered by the lenders are both fixed and not floating.