Due to an unforeseen expense, you exhaust your salary in the middle of the month. Usually, people ask their friends for a small bridge loan, to be repaid as soon as the salary is credited in the bank account. There are times when they may not be able to help. Targeting such individuals, some non-banking financial companies (NBFCs) have started offering small tenure loans that can be rapid in a few days and the borrower is charged interest only for that period. Essentially, it’s a credit line on tap for individuals, who can avail a loan whenever they want and repay as soon as they have the funds. These products serve as an alternative to the little-known facility that banks offer, overdraft against salary. Though both facilities serve the same purpose, the one from NBFCs work out to be more convenient but a little expensive when compared to taking an overdraft from a bank, as many of the latter charge simple interest rates. NBFCs can also offer higher amounts compared to most banks.