How Overdraft Limits Against Property Can Boost Your Financial Flexibility
An overdraft limit against property is a financial product that allows individuals or businesses to borrow funds by using their property as collateral. It provides a flexible line of credit, where the borrower can withdraw up to a predetermined limit as needed. The interest is charged only on the amount utilized, making it a cost-effective solution for short-term financing needs. This type of loan is typically secured against residential, commercial, or industrial properties, offering higher borrowing limits and lower interest rates compared to unsecured loans.