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Standard Bank Overdraft

Standard Bank Overdraft

Sometimes you simply can’t avoid going over budget, and that’s when it helps to have an overdraft. It’s always there when you need it

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SOME OF THE BENEFITS

Anytime access

Draw money whenever you need it from an overdraft that’s always available

Convenience

Change your limit via online banking, or at AutoPlus ATMs

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Pay as you go

Pay interest only on the amount that you’ve used during the month

No fuss

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Avoid minimum monthly repayments, with full settlement the instant your salary is paid

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How it works

  • Your overdraft is a credit facility on the bank account your income is paid into
  • No minimum monthly repayments are necessary, as the facility is topped up when your income is deposited into your account
  • You only pay interest on the amount you’ve used during the month
  • Your overdraft can be insured, so whatever’s owed can be settled in the event of disability, dread disease or death

What is costs

  • Monthly service fees apply only to overdrafts over R 500
  • Fees are regulated by the National Credit Act and will never exceed the limits set by the Act

Changing your limits

  • Login to online banking, select ‘Overdraft’ and enter the amount you want
  • Send us a Call me back
  • Go to any AutoPlus ATM,  select ‘Other transactions’, go to ‘Loans/Overdraft’ and select ‘Overdraft’
  • Or speak to us at your nearest branch
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