Overdraft loans are designed to provide individuals and businesses with temporary access to additional funds beyond their current account balance. This type of loan is particularly useful for managing short-term cash flow gaps or covering unexpected expenses.
Express Finance offers overdraft facilities to eligible customers, allowing them to withdraw funds from their accounts even if the balance is insufficient. This flexibility can be invaluable in situations where immediate access to funds is necessary, such as making urgent payments or taking advantage of time-sensitive business opportunities.
To qualify for an overdraft loan, borrowers typically need to have a good credit score and a history of responsible financial management. Lenders will assess the borrower’s income, employment status, and overall financial situation to determine the appropriate overdraft limit.
Overdraft loans are typically short-term, and borrowers are expected to repay the outstanding amount as soon as their account is credited with funds. Interest is charged on the overdrawn amount, and fees may apply for maintaining the overdraft facility. Click here to apply Now
