Overdraft vs Loan: Which is more preferable?

[Kera]

Some banks give their customers credit facilities through various means. One way is through overdraft where you cash out more than what your bank balance and payback with interest. That is applicable for salary accounts though. Another source of credit is loans which we all know.

As a salary earner, which would you prefer between overdraft and loans?

 

[King Belieal]

I think that overdraft has a relatively low interest rate that anyone can easily pay when compared to loans.

 

[Augusta]

Yes I always go for overdraft than an outright loan that comes with it's different issues which can be depressing