FNB Overdraft Loan is a short-term credit facility offered by FNB to its existing clients. The FNB Overdraft loan is ideal for covering unforeseen expenses such as medical expenses, car repairs and school fees. The expenses mentioned are just a suggestion of what you can use the loan for but ultimately it is up to you how you use the funds. Having The FNB Overdraft loan facility in place gives you peace of mind knowing that you have reserve of funds available to you when funds in your account run out. How much overdraft is approved will depend on your credit record and affordability. The facility does not have stipulated monthly repayments as long as you stay within the agreed limits and regular deposits such as your salary get into your account.
The FNB Overdraft Loan facility is available to FNB clients with a cheque account. If you don’t have an account with FNB you can open an account today and start enjoying the benefits of having this facility in place. The FNB Overdraft loan can help both individuals and businesses. For individuals it will give you financial flexibility and it gives you comfort to know that in case of an emergency you have a safety net. For business it can help you with cash flow challenges.
Once approved, you can make immediate use of the facility. The good news is that you only pay when you use it. If you do not use more than R200 of your overdraft facility you will not have to pay the monthly fee, creating the perfect safety net. When you make use of the facility you are only charged interest on the amount used. The FNB Overdraft loan is connected to your cheque account and you don’t have to track a separate account.
Required Documents to Apply For FNB Overdraft Loan
- You must be 18 years or older
- South African ID book
- Latest Payslip
- You must be an FNB customer with active FNB Cheque account or Easy account
- Proof of residence
- Consent from spouse (if married in community of property)
Application for the FNB Overdraft loan can be done in any one of three ways which are applying online, completing the call me back form on their website or calling them using the details below.
FNB Overdraft Loan Contact Details
Website: www.fnb.co.za
Telephone: 0860 327 827