Which of the following allows customers to withdraw money above the balance in their accounts?

Cash credit

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Current deposit

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Fixed deposit

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Overdraft facility

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Solution

The correct option is D Overdraft facility
Overdraft loans are made available only to customers having frequent transaction records or current deposit accounts. It allows customers to withdraw amounts above the balance in their accounts.

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We can withdraw or deposit money in which of the following accounts on regular or irregular intervals?

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