MY FIRST EMI Provides Overdraft Limits To Help You Manage Short-Term Liquidity And Unforeseen Needs With Simplicity. This Flexible Credit Option Enables You To Take Funds As Needed, Up To An Agreed Limit, Without The Need To Reapply For Loans. Enjoy Competitive Interest Rates And Pay Only For The Amount You Use. With Instant Access To Funds And No Fixed Repayment Plan, MY FIRST EMI's Overdraft Limit Is The Right Choice For Ensuring Smooth Cash Flow And Financial Stability.
In Simple Terms, Overdraft Is A Financial Facility Offered By Banks To Help Account Holders Withdraw Money From Their Savings And Current Account, Even If The Account Balance Is Below The Minimum Required Balance Or Zero. This Limit Is Assigned To Each Customer Depending On His Credit Score, Repayment History, Account Value And Others. This Facility Is Well Known As Short-Term Cash Loan Facility That The Customer Can Utilize At Any Point In Time Upto The Assigned Credit Limit. However, This Facility Can Be Availed By Paying The Interest On The Utilized Credit Amount.