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An overdraft is a specific type of loan associated with a checking account.
A loan is a generic way to provide value immediately to the borrower in return for that borrower to pay back the value (plus interest) over time to the lender.
An overdraft (also known as overdraft protection) is specific type of loan that is associated with a checking account. With overdraft protection, checks that are written that are cashed where there is not enough money in the account are paid by the bank and the amount that was not covered by the account is represented in a loan.
For example, if there was $27 in an account and a check was cashed for $750 for rent, the $27 would be used and an overdraft loan would be charged for $723. Any additional checks might be accepted by the bank and charged to the overdraft loan.
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What is the difference between loans grants aid gift?
What is the difference between loans grants gifts and aids?"
What is are unsubsidized loans?
The difference between subsidized and unsubsidized student loans is the interest. On subsidized loans you don't have to pay the interest and it does not build up over the life of your loans.
What is the difference between online payday loans and walkin payday loan offices?
There is no difference in the business side of online payday loans and walk in payday loans. If it you do do it online, the return will be just as quick. I supposed being able to do it from your home does provide an advantage.
What is the difference between overdraft and cash credit?
The difference is very subtle and relates to the operation of the account. In the case of Cash Credit, a proper limit is sanctioned which normally is a certain percentage of the value of the commodities/debts pledged by the account holder with the Bank. Overdraft, on the other hand, is allowed against a host of other securities including financial instruments like shares, units of mutual funds, surrender value of LIC policy and debentures etc. Some overdrafts are even granted against the perceived "worth" of an individual. Such overdrafts are called clean overdrafts.
What is the difference between a home improvement loan and a home equity loan?
Home improvement loans are given to people who want to do renovations on their house. Home equity loans are loans that are given out with the assurance of the house.
What is the difference between loans grants aid gift?
What is the difference between loans grants gifts and aids?"
What is the difference between private stafford and plus student loans?
What is the difference between private stafford and plus student loans?
What are some of the different ways you can borrow money?
loans, overdrafts, buying on credit, are a few off the top of my head.
What is the meaning of revolver loans?
Arrangement which allows for the loan amount to be withdrawn, repaid, and redrawn again in any manner and any number of times, until the arrangement expires. Credit card loans and overdrafts are revolving loans
What is are unsubsidized loans?
The difference between subsidized and unsubsidized student loans is the interest. On subsidized loans you don't have to pay the interest and it does not build up over the life of your loans.
How do you talk to your bank manager about overdrafts?
Tell him about your overdrafts.
What are the differences between direct and indirect student loans?
The difference between direct and indirect student loans are direct loans come to you in your name to deposit and use for school. Indirect loans go stright to the school and are used just for tuition.
What is unsubsidizes loan?
The difference between subsidized and unsubsidized student loans is the interest. On subsidized loans you don't have to pay the interest and it does not build up over the life of your loans.
Can you tell by looking at a check if they have had overdrafts?
No. You can not tell by looking at a check if they have had overdrafts.
What is the difference between online payday loans and walkin payday loan offices?
There is no difference in the business side of online payday loans and walk in payday loans. If it you do do it online, the return will be just as quick. I supposed being able to do it from your home does provide an advantage.
What is the difference between overdraft and cash credit?
The difference is very subtle and relates to the operation of the account. In the case of Cash Credit, a proper limit is sanctioned which normally is a certain percentage of the value of the commodities/debts pledged by the account holder with the Bank. Overdraft, on the other hand, is allowed against a host of other securities including financial instruments like shares, units of mutual funds, surrender value of LIC policy and debentures etc. Some overdrafts are even granted against the perceived "worth" of an individual. Such overdrafts are called clean overdrafts.
What is the difference between a home improvement loan and a home equity loan?
Home improvement loans are given to people who want to do renovations on their house. Home equity loans are loans that are given out with the assurance of the house.
