Overdrafts
An overdraft is a very versatile tool that
provides the flexibility of borrowing funds at your own discretion,
with the added advantage of paying only the monthly interest,
while the capital can be paid at the end of the agreed term. |
How does an overdraft work?
Overdrafts work by drawing money from funds not owned by the customer
through a checking account, and guaranteeing it
with certificates of deposit, funds
in a savings accounts, securities and bonds of local companies, or mortgaged
property.
To apply for an overdraft, contact the branch nearest you for more information.
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