Because of the changing character of the facility, it is just provided with a flexible rate of interest.
Because of the changing character of the facility, it is just provided with a flexible rate of interest.
These two terms are different.For a bank overdraft, you should have an account with the bank and it is a limit on borrowing on a bank current account. With an overdraft the amount of borrowing may vary on a daily basis.A bank loan is a fixed amount for a fixed term with regular fixed repayments. The interest on a loan tends to be lower than an overdraft.
VARIABLE. When this variable has a fixed number assigned to it and does not change, it is called a "fixed variable".
difference between fixed and variable inputs
It depends. You can contact your bank and provide proof of income and request them to increase your overdraft. Usually overdraft is provided to upto 2 times your monthly salary. Also, the presence of any collateral like bonds or fixed deposits can help boost your overdraft limit
Variable
Variable
Fixed
when bank give loan to the people on credit for a fixed time period is called overdraft facility. we can withdraw more than than our bank bal.
A fixed variable is the thing that stays the same, such as the amount of water.
its a fixed cost
fixed and variable