overdraft loan

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• Overdraft — An extension of credit from a lending institution when an account reaches zero. An overdraft allows the individual to continue withdrawing money even if the account has no funds in it. Basically the bank allows people to borrow a set amount of… …   Investment dictionary

• overdraft — over·draft / ō vər ˌdraft/ n 1: the act or result of drawing on a bank account for more than the balance; also: the amount exceeding the balance in an overdraft 2: a loan or credit extended on a current account esp. to established or… …   Law dictionary

• Overdraft — I warn you, Sir! The discourtesy of this bank is beyond all limits. One word more and I I withdraw my overdraft! Cartoon from Punch Magazine Vol. 152, June 27, 1917 An overdraft occurs when money is withdrawn from a bank account and the… …   Wikipedia

• overdraft — a form of loan by which a person with a trading bank current account is given permission to continue making drawings on the account up to an agreed limit, after the balance has been reduced to nil. Glossary of Business Terms Provision of instant… …   Financial and business terms

• loan account — An account opened by a bank in the name of a customer to whom it has granted a loan, rather than an overdraft facility. The amount of the loan is debited to this account and any repayments are credited; interest is charged on the full amount of… …   Big dictionary of business and management

• overdraft — A loan made to a customer with a cheque account at a bank or building society, in which the account is allowed to go into debit, usually up to a specified limit (the overdraft limit). Interest is charged on the daily debit balance. This is a less …   Accounting dictionary

• overdraft — A loan made to a customer with a cheque account at a bank or building society, in which the account is allowed to go into debit, usually up to a specified limit (the overdraft limit). Interest is charged on the daily debit balance. This is a less …   Big dictionary of business and management

• loan — money lent at interest.A lender makes a loan with the idea that it will be paid back as agreed and that interest will be paid for the use of the money. Glossary of Business Terms Temporary borrowing of a sum of money. If you borrow $1 million you …   Financial and business terms

• Loan agreement — A loan agreement is a contract entered into between which regulates the terms of a loan. Loan agreements usually relate to loans of cash, but market specific contracts are also used to regulate securities lending.Loan agreements are usually in… …   Wikipedia

• loan — 1. noun a loan of $7,000 Syn: credit, advance; mortgage, overdraft; lending, moneylending 2. verb 1) he loaned me his car Syn: lend, advance, give credit; give on loan, lease, charter …   Thesaurus of popular words

• Loan Guarantee Scheme — A UK government scheme that guarantees 70% of a company s overdraft for a 3% premium. The bank must accept the risk for the balance of 30%. Its purpose is to support small businesses …   Big dictionary of business and management