Meaning of the word: Overdraft

An overdraft is a service for costumers of bank, when client can draw money in case that he doesn´t have enough his own money on his account so he goes below zero. It is therefore a financial reserve, which the customer can use in case of financial emergency. Overdraft is a paid service, the client also to pay interest on borrowed money.

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Term deposit

Term deposit is a type of bank account that guarantees the interest rate of the deposit the client. It is concluded for a specified period and at the…

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