Personal Loan vs. Overdraft Account

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Personal Loan vs. Overdraft Account
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What is a personal loan?

• An instant personal loan is a quick loan that is
  easy to get and very affordable. You get the best
  rate of interest if you compare a personal loan
  with any other type of loan. It will help you get
  instant cash in your account that you can use for
  anything because there will be no rigidity in the
  end-use facility. It is your money and no one is
  asking you the end-use for borrowing. You can pay
  off the debt in an easy repayment scheme as per
  the tenure you choose. There is no need to give
  away any security or collateral with the bank as
  it is an unsecured form of debt.

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What is an overdraft amount?

• In an overdraft amount, you can borrow a certain
  sum of money front the current account of the
  bank. There is a limit as to how much you can
  withdraw for usage. It is done quickly and the
  process will not make you wait for a long period.
  Within some hours you can withdraw and use the
  amount for any need that comes up.

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The Difference

• Period of Disbursement In a personal loan the
  disbursement is always quick. From the time of
  application to disbursement you can get the fund
  in your account within some hours. If you are
  going for an instant personal loan, you will get
  the disbursement within few hours. You will have
  to do your documentation and then apply for a
  loan every time you need the fund. However, in
  the overdraft amount, the disbursement is done
  within few hours and one business day. You dont
  need to apply every time you need the fund. If
  you need the fund you can withdraw it from the
  current account.

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The Difference

• Repayment scheme In a personal loan there will
  be a fixed EMI scheme every month. You need to go
  for a fixed installment that you need to pay.
  Here you need to select a specific tenure and you
  need to pay the fixed EMI monthly without any
  changes. However, in an overdraft amount you
  dont need to go for any fixed tenure or pay any
  fixed EMI on monthly basis. You can go for
  repayment according to your wish.

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Apply personal loan in Pune

• A personal loan is the best option if you need
  funds for an urgent need or a short period. It
  can be availed for any purpose. Apply for
  personal loan in Pune online on Clix Capital by
  just filling a few personal details.

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Clix Capital Services Private Limited

• Address 4th Floor, Kailash Building, Kasturba
  Gandhi Marg, Connaught Place, New Delhi-110001
• Phone [phone]
• Email us hello_at_clix.capital
• Website www.clix.capital

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