Everything you should know in the world of Finance

Overdraft facilities can provide businesses and individuals with useful access to extra short-term funding when required. Typically, financial institutions have certain criteria that applicants need to meet to get approved for overdraft facilities. This article will explore the key eligibility criteria for overdraft facilities.

What Is an Overdraft Facility?

An overdraft facility is a form of flexible borrowing solution from a financial institution to help cover costs in times of financial distress or when expenses unexpectedly exceed accessible funds.

Owning a car is a significant investment. Over the tenure of your car loan, you end up repaying far more than what you actually borrowed, owing to interest, processing fees and other charges levied by banks and non-banking financial companies (NBFCs). As you continue your monthly repayments, you slowly build equity in your car, which is the current resale value minus what you still owe on the loan.

Getting a mortgage means you are signing up for a long-term financial responsibility, whether you are purchasing your first flat or adding it to your property portfolio. Before you apply, it’s important to know how these loans are structured and to think through your budget, repayment plans, and what you can comfortably afford each month. This guide shares practical ways to prepare and manage your mortgage effectively.