Personal Loan vs. Overdraft Account
                     Personal Loan vs. 
Overdraft Account
What is a personal 
loan?
 An instant personal loan is a quick loan that is easy to get 
and very affordable. You get the best rate of interest if you 
compare a personal loan with any other type of loan. It will 
help you get instant cash in your account that you can use for 
anything because there will be no rigidity in the end-use 
facility. It is your money and no one is asking you the end-use 
for borrowing. You can pay off the debt in an easy repayment 
scheme as per the tenure you choose. There is no need to 
give away any security or collateral with the bank as it is an 
unsecured form of debt.
What is an overdraft 
amount?
 In an overdraft amount, you can borrow a 
certain sum of money front the current 
account of the bank. There is a limit as to 
how much you can withdraw for usage. It is 
done quickly and the process will not make 
you wait for a long period. Within some 
hours you can withdraw and use the amount 
for any need that comes up.
      The Difference
 Period of Disbursement: In a personal loan the 
disbursement is always quick. From the time of application 
to disbursement you can get the fund in your account 
within some hours. If you are going for an instant personal 
loan, you will get the disbursement within few hours. You 
will have to do your documentation and then apply for a 
loan every time you need the fund. However, in the 
overdraft amount, the disbursement is done within few 
hours and one business day. You don’t need to apply every 
time you need the fund. If you need the fund you can 
withdraw it from the current account.
      The Difference
 Repayment scheme: In a personal loan there will be a 
fixed EMI scheme every month. You need to go for a 
fixed installment that you need to pay. Here you need 
to select a specific tenure and you need to pay the fixed 
EMI monthly without any changes. However, in an 
overdraft amount you don’t need to go for any fixed 
tenure or pay any fixed EMI on monthly basis. You can 
go for repayment according to your wish.
Apply personal loan in Pune
A personal loan is the best option if you 
need funds for an urgent need or a short 
period. It can be availed for any purpose. 
Apply for personal loan in Pune online on 
Clix Capital by just filling a few personal 
details.
Address: 4th Floor, Kailash Building, 
Kasturba Gandhi Marg, Connaught Place, 
New Delhi-110001
Phone: 1800 200 9898
Email us: [email protected]
Website: www.clix.capital 
Clix Capital Services Private 
Limited
Read More: 
www.clix.capital/clixblog/important-things-to-know-before-taking-a-personal-loan