Question

Which of the following facilities is given to the individual to continue withdrawing money even if he/she has no enough funds in his/her account?

A Demand draft Correct Answer Incorrect Answer
B Current account Correct Answer Incorrect Answer
C Overdraft Correct Answer Incorrect Answer
D Zero balance Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

An  overdraft   is an extension of credit from a lending institution when an account reaches zero.  An overdraft   allows the individual to continue withdrawing money even if the account has no funds in it or not enough to cover the withdrawal.

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