Credit & cash facility
A drop line overdraft facility is a type of financial arrangement offered by banks to their customers. It allows customers to overdraw their bank accounts up to a pre-approved credit limit. This means you can withdraw or spend more money than you have in your account, up to the specified limit. It's called a "drop line" because the overdraft amount "drops" into your account when needed, and you only pay interest on the amount you use. It's a convenient way to cover short-term financial gaps, but it's important to manage it responsibly, as interest charges may apply on the borrowed amount.
