What is he difference between OD account and CC account
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Answer Posted / raja
OD - OVERDRAFT
CC - CASH CREDIT
BOTH ARE BANKING FACILITY, YOU CAN MAKE USE OF IT
OD - YOU CAN GET AGAINST YOUR DEPOSIT AND ASSETS.
CC - YOU CAN GET ONLY ON YOUR ASSETS
DEPENDS UPON YOUR REQUIREMENT AND YOUR HOLDINGS (SECURITIES)
YOU CAN GET IT FROM THE BANKERS.
ANOTHER ONE IS THERE CALLED TOD - TEMPORARY OVERDRAFT
YOU CAN GET THIS WITH MANAGERS POWER FOR A DAY OR TWO DAYS
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