Bank Loans and Overdrafts

By |2017-01-17T11:21:16+02:00June 30th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

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Image credit forexsiteds.com ZIMSEC O Level Commerce Notes: Money and Banking: Bank Loans and Overdrafts

Bank Overdrafts

  • Are an informal way of borrowing money.
  • They are given to current account holders only.
  • Are a short term form of borrowing.
  • Interest is charged daily on the amounts owing.
  • The interest rate levied on these […]

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