Standard Bank Overdraft is a facility that is loaded to your current account if you are and existing customer. This facility is essential considering how life can be unpredictable. A Standard Bank Overdraft allows you to pay for unplanned expenses as you are allowed to borrow on the same account used for your daily transactions.
The overdraft limit you qualify for will depend on your credit record, risk profile and affordability.
Standard Bank believes in helping their clients move forward by improving their cash flow. The Standard Bank Overdraft will do exactly that as you will have a source for funds whenever faced with unplanned expenses.
This facility also allows you to have peace of mind and comfort knowing that you have instant access to extra cash for emergencies. How much you use the facility is up to you as a client. You can use the total amount of your agreed limit if you wish to or just a portion or not use it at all.
The good news is that you are only charged interest on the portion of the overdraft that you would have used. If you don’t use the overdraft you are not charged.
Another benefit which comes with the Standard Bank Overdraft is that interest rate is linked to Prime so that you receive the benefit when prime rates decrease.
When you use your overdraft facility there are no monthly payments required only regular monthly deposits into your account preferably your salary.
If you are an existing Standard Bank customer, apply for an overdraft facility and have comfort knowing that you have instant access to cash in case of emergencies. If you are not an existing customer you can open an account and stat enjoying the benefits of having a Standard Bank Overdraft.
To apply for a new overdraft or increase your existing limit you can do so via AutoPlus, Internet Banking, Call Centre, Cell phone banking, online application or by visiting your nearest branch.
Requirements To Qualify For A Standard Bank Overdraft
- You must have an existing Standard Bank current account
- Applicants must be 21 years or older
- You must be a South African citizen or permanent resident
- Must have an acceptable credit record and risk profile
- You must earn a minimum salary of R3000 per month
Standard Bank Overdraft Contact Details
Telephone: 0860 123 000