Select a word or a term or phrase which can substitute the following statement:
Permission to withdraw over and above the credit balance from the current account.

Question

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Answer 1

Overdraft facility is usually given to the current account holders to resolve short-term financial crisis. It is a facility attached to an existing account. Amount over and above the credit balance can be withdrawn with a limit as agreed for.
Cash credit and Loan are separate accounts opened for the purpose of raising funds.

Answer 2

Overdraft facility is usually given to the current account holders to resolve short-term financial crisis. It is a facility attached to an existing account. Amount over and above the credit balance can be withdrawn with a limit as agreed for.

Cash credit and Loan are separate accounts opened for the purpose of raising funds.

Select a word or a term or phrase which can substitute the following statement:
Permission to withdraw over and above the credit balance from the current account.

Cash credit facility

Overdraft facility

Loan facility

None of these

State the following statement is True or False:
The facility given by the bank to draw money over and above the actual account balance is called overdraft.

Write a letter to a bank.
Requesting to open Current Account.

Distinction between:
Saving Accounts and Current Accounts.

What do you mean by current deposit account?

Distinguish between the following:
Current Account and Fixed Deposit Account.

Revise with Concepts

E-Banking and its benefits

Types of Banks and its functions

Select a word or a term or phrase which can substitute the following statement:Permission to withdraw over and above the credit balance from the current account.

Cash credit facility

Overdraft facility

Loan facility

None of these

State the following statement is True or False:The facility given by the bank to draw money over and above the actual account balance is called overdraft.

Write a letter to a bank.Requesting to open Current Account.

Distinction between:Saving Accounts and Current Accounts.

What do you mean by current deposit account?

Distinguish between the following:Current Account and Fixed Deposit Account.

Revise with Concepts

E-Banking and its benefits

Types of Banks and its functions

Select a word or a term or phrase which can substitute the following statement:
Permission to withdraw over and above the credit balance from the current account.

State the following statement is True or False:
The facility given by the bank to draw money over and above the actual account balance is called overdraft.

Write a letter to a bank.
Requesting to open Current Account.

Distinction between:
Saving Accounts and Current Accounts.

Distinguish between the following:
Current Account and Fixed Deposit Account.