OD/CC Limit

CC Limit (Cash Credit )

Unleash Growth Potential: Offer Flexible Financing with CC Cash Credit Limits

As a lending professional, you understand the challenges businesses face in managing cash flow. The CC Cash Credit Limit provides a versatile solution for your clients, offering:

Increased Working Capital: Businesses can access funds as needed, up to their approved limit, to cover operational expenses, inventory purchases, or unexpected costs.
Improved Cash Flow Management: Interest is only charged on utilized funds, allowing for efficient financial management.
Flexible Repayment: Clients can repay borrowings at their own pace, with options for structured installments or on-demand repayments.
Simplified Application Process: Streamlined procedures ensure businesses receive funding quickly.

Overdraft Limit

To pair with “Overdraft Limits: A Guide for Account Holders”: Arranged vs. Unarranged Overdrafts

An overdraft limit is the maximum amount of money you can borrow from your bank account when your balance is zero or negative. It’s essentially a short-term loan from your bank, allowing you to make purchases or withdraw cash even if you don’t have sufficient funds in your account.

Arranged vs. Unarranged: There are two main types of overdrafts:
- Arranged overdraft: This is an agreement you make with your bank for a specific borrowing limit. You’ll typically need to meet certain criteria, such as having a regular income, to qualify for an arranged overdraft. There may be interest charged on the amount you borrow.
- Unarranged overdraft: This occurs when you spend more money than you have in your account without prior agreement from your bank. Unarranged overdrafts generally come with higher fees compared to arranged overdrafts.
Fees and Charges: Be aware of any fees associated with using your overdraft limit. These could include:
- Daily overdraft fees: Charged for each day your account remains in overdraft.
- Transaction fees: Fees charged for each transaction made while overdrawn (e.g., ATM withdrawals).

When you apply for a loan, the lender will first compare your application to their lending criteria to determine if you meet their requirements. This includes factors such as your credit score, income, employment history, and debt-to-income ratio.

OD/CC Limit

CC Limit (Cash Credit )

Overdraft Limit

When you apply for a loan, the lender will first compare your application to their lending criteria to determine if you meet their requirements. This includes factors such as your credit score, income, employment history, and debt-to-income ratio.

quick link