Business Studies, asked by Kran6880, 2 months ago

Give me 2 differences between loan and overdraft

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Answered by Anonymous
6

Answer:

An overdraft is a variable amount of borrowing agreed with your bank up to a set limit. A loan is a fixed amount of borrowing over a set term with regular repayments. Overdrafts allow you to borrow money as and when you need it up to a limit agreed between you and the bank.

Answered by anshikasingh0010
1

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