Overdraft meaning: Understand overdraft in banking

Understand overdraft in banking, know its meaning , types, and benefits. Learn how overdraft facilities work in India, interest charges, and key uses for businesses & individuals. Understand bank account overdrafts - their causes, fees, impacts on personal finance, protection services, avoidance methods, and recovery strategies. Overdraft Facility is a credit-based facility offered by banks and financial institutions that allows you to withdraw money even if your account balance is negative. Learn how overdraft can help your business with flexible repayment, zero charges, and low interest rates. An overdraft lets you borrow when your account balance is low. Learn about fees, protection, and smart tips to manage overdrafts while avoiding common pitfalls.