Overdraft Facility Loan
An overdraft facility allows you to withdraw funds from a fixed line of credit whenever you need it. Repayment is also easy and hassle-free, as you can repay what you borrow at convenience. This is what makes the overdraft facility one of the most preferred credit options in the marketplace.
Through Financeseva’s overdraft facility loan in India loan, you can make several withdrawals from your loan limit whenever you need funds. Apart from that, you can part –prepay as per your financial flexibility. The best part is that you need to only pay the interest on the amount you utilise from the actual sanction limit.
Key features of Overdraft Facility Loan:
The following are the advantages that you can avail at the time of availing such a facility:
- The overdraft facility loan is affordable to pay. In addition, you only have to pay the interest on what you use rather than the entire sanction limit and this facilitates hassle-free repayment.
- As the amount is pre-sanctioned, you can borrow it instantly, whether you are salaried or self-employed.
- There are no restrictions on usage, so you can use the funds from the loan as you wanted to make it use. For personal, professional, planned, or unplanned needs.
- Overdraft facilities simplify the borrowing and repaying. Thus, you can use this to build a good credit history and boost your credit score.