Question

Name the deposit account which allows overdraft facility. Mention any other features of that deposit account.​

Answer 1

Better to get an overdraft facility against a deposit (FD). The reason is while you receive interest income on the entire deposit, you only pay interest on the overdrawn amount (although 1% or 2% p.a. higher), but in the end it is likely to be a win situation for you with this route than to just park the funds in the savings account and earn much lower interest.