- This topic has 2 replies, 2 voices, and was last updated 3 years ago by
.
Viewing 3 posts - 1 through 3 (of 3 total)
- Posts
Can you state brief difference between Revolving Credit Facility and Overdraft?
I am confused they are same.They are similar but:
Overdrafts do not have fixed repayment schedules or terms….though the bank can demand immediate repayment. There is an agreed maximum amount. Withdrawals and repayments are very flexible.
Revolving credit: think of a credit card. More rules about repayment amounts etc but you can use the facility flexible and the bank cannot demand immediate repayment.
Viewing 3 posts - 1 through 3 (of 3 total)
- The topic ‘Deficits’ is closed to new replies.