👉 Underdraft, also known as a cash advance or overdraft, is an arrangement in which a borrower borrows money from a lender and then repays it with interest. It's typically used when a borrower needs to borrow more than their available credit limit, such as for a car loan, home purchase, or other financial obligations. Underdrafts are usually short-term loans that can be repaid within a few days, weeks, or even months. This means that the borrower will only have to
