Overdraft Office is a monetary instrument where you can pull out cash from your reserve funds or current record, regardless of whether your record balance is zero. Almost all financial institutions, including banks and NBFCs, offer this feature. An overdraft facility is a type of short-term loan that financial institutions require to be repaid over a predetermined period of time. In accordance with the bank’s terms and conditions, lenders are required to charge the borrower’s required interest rates. On account of Overdraft, the sort of loan fees presented by the moneylenders are both fixed and not drifting.