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What is a credit facility?

Updated: 9/19/2023
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Q: What is a credit facility?
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What does to complete a credit facility means?

What does to complete a credit facility means?" Answer: Credit facility means a facility for an individual or a group to fulfill his house hold, individual, basic, business requirements. Banks & DFIs are currently providing this facility to individual or group, where banks or DFIs provide credit on monthly basis repayment procedure inluding interest & service charges. This facility helps individual or group to fulfill them urgent requirements in a short time of period.


Can you pay someone you know with a credit card?

If they have a credit card facility yes


What is cash credit?

it ithe credit facility for working capital requirement and the interst is payable on the usge. it ithe credit facility for working capital requirement and the interst is payable on the usge. In cash credit facility you can take out money of fixed amount even you have no cash in your account and you have to pay in within a time limit.


What does cash back facility mean for credit card?

Yes, most of the banks offer cash back facility as a credit card benefits. It basically means that you get discounts on purchases and utilities.


What are the Credit facilities provided by the commercial bank?

One credit facility provided by the commercial bank is revolving credit. Also included are term loans and letters of credit.


What is a credit guarantee?

An agreement in terms of which a person undertakes or promises to satisfy upon demand any obligation of another consumer in terms of a credit facility or credit transaction.


Where can one apply for credit cards with a balance transfer facility?

One can apply for credit cards with a balance transfer facility through the websites of a number of banks. One can apply on 'Standard Chartered', 'Axis Bank' and 'ICICI Bank'.


Which Indian bank introduced Credit Card facility first?

central bank of india


What is Overdraft facility?

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.


What has the author Paul Seibert written?

Paul Seibert has written: 'Credit union facility planning' -- subject(s): Credit union facilities, Planning


What is the difference between a charge card and a credit card?

Charge card and credit card offers you a facility to spend a certain amount and at the end of the month you can pay a specific minimum amount and revolve your credit for the next month by paying some interest on the remaining amount that is still to be paid and remains out standing. Charge card offers you a facility that the amount spent will be directly debited from your account and you can not revolve the credit. Charge card is a facility provider which is given to their costomer to make their payment behalf of the costumer


How can the facility of credit cards be obtained?

You can contact any credit card issuing bank with a valid address, identity and income proof and request for issue of a credit card. If you do not have a credit history, the bank may give you a secure credit card which will be linked to a deposit account.