How is overdraft interest calculated? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

How is overdraft interest calculated?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

Interest is calculated daily on the drawn amount only (the debit balance), according to the rate agreed with the bank, and is deducted at the end of each month.

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