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Question
Select the proper option from the options given below and rewrite the completed sentence.
Overdraft facility is given to ________.
Options
Savings account
Current account
Fixed account
Solution
Overdraft facility is given to current account.
Explanation:
A current account holder enjoys the overdraft facility. The term “overdraft facility” means that a temporary arrangement is made whereby a customer is allowed to withdraw an amount of money greater than his prevailing account balance. For this overdraft facility, the bank charges interest on the amount overdrawn.
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