An overdraft protection loan is a line of credit attached to your checking account. If you run out of money and you've been approved for this type of loan, the line of credit can cover expenses so that you don’t bounce checks, miss payments, or have your debit card denied.

Any money you use is provided as a standard loan, so you’ll pay interest on the amount you borrow. However, overdraft lines of credit are often less expensive than incurring NSF fees.