You visited us 0 times! Enjoying our articles? Unlock Full Access!
Question
Open in App
Solution
Verified by Toppr
Bank overdraft is a kind of loan provided by some banks to their customers when the amount in their account reaches zero. The customer who maintains a current account with the bank takes permission from the bank to withdraw more money than deposited in his account. The extra amount withdrawn is called an overdraft. This facility is available to trustworthy customers for a limited period.
Was this answer helpful?
1
