Overdraft facility
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At BYC Advisors, we offer expertise in securing and managing overdraft facilities, helping clients optimize their financial management.
What is Overdraft facility?
Overdrafts can be linked to current or savings accounts, providing borrowers with immediate access to additional funds. They are commonly used by businesses to cover operational expenses or by individuals for personal needs. Interest is charged only on the amount overdrawn, making it a cost-effective solution for short-term financing.
Benefits of Overdraft Facilities
- Flexibility: Borrowers can access funds as needed, without the need for a formal loan application each time.
- Cost-Effective: Interest is charged only on the amount utilized, which can be lower than personal loan interest rates.
- Quick Access: Overdraft facilities provide immediate liquidity, making them ideal for managing unexpected expenses.
Eligibility Criteria
Eligibility for an overdraft facility generally includes:
- A stable income source.
- Good credit history.
- A current or savings account with the lending bank.
Documentation Required
Common documentation includes:
- Proof of identity and address.
- Bank statements.
- Income proof.
Information
- 0141-3588450 , +91 8823911161
- camuditgoyal@gmail.com
- 3-B, Krishna Vihar, Gopalpura Bypass, Jaipur
- https://bycadvisors.com/
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