OD, one of the best facilities from our Local Banks
Overdraft or some people called it OD, is one of the powerful facilities provided by our Local Bank. It’s a one of loan product that gives very low risk to the bank, hence bank gives you a quite low loan interest among others. To apply OD, you need to mortgage your valuable asset that have high liquidity such as Unit Trust, ASB or Fix Deposit. The capacity of your OD normally 90 to 95 percent of your mortgage asset value.
Nowadays, bank offer between BLR-1 until BLR-2 of interest per annum. Roughly is about 0.3 per month bank will charge on total of balance credit that we have made. Cheap isn’t it compare to credit card interest. Get one it now!
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