An overdraft is usually granted a?

An overdraft is usually granted to a "current account holder". A current account is a type of bank account that allows customers to deposit and withdraw money as well as make payments. An overdraft is a financial facility that allows a current account holder to withdraw more money than they have in their account, up to a pre-determined limit set by the bank. The overdraft facility is usually granted by the bank to help the current account holder to cover short-term expenses or to manage cash flow. The amount borrowed must be repaid with interest within a specified period of time. Overdrafts are subject to fees and interest charges, and the bank has the right to cancel or reduce the overdraft limit at any time if the account holder fails to make the required payments.