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Bank Overdraft

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Published in: Economy & Finance, Business
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Bank Overdraft

  1. 1. Bank Overdraft<br />
  2. 2. What is a Bank Overdraft?<br />A bank overdraft is the limit you can borrow from an account. When repaying you must pay a service charge.<br />
  3. 3. Advantages.<br />Short term borrowing<br />Interest is only paid on amounts borrowed<br />Flexibility can change the amount borrowed within limits<br />
  4. 4. Disadvantages.<br /><ul><li> It cannot be used for large borrowing
  5. 5. Rate of interest is higher than loans
  6. 6. The bank can change limit at any time or ask for money to be paid back quicker</li></li></ul><li>By Sophie, Ben and 4ndii b4bii<br />

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