Overdrafts
What is an overdraft?
- An overdraft is a credit facility loaded to your current account. This means that you have the convenience of borrowing on the same account that is used for your daily banking transactions.
The benefits of an overdraft?
- An overdraft will provide you with the comfort of knowing that you have instant access to extra cash for emergencies.
- You can use as much of your agreed overdraft limit as you need whenever you need it. The total limit is always available to you for use.
- You only pay interest on the portion of your overdraft used in any given month.
- No monthly repayment required. Only a deposit into your current account, preferably your salary.
- You can also take-up a R500 overdraft limit with no Initiation fee and no monthly service fee.
How to apply for an overdraft?
- To apply for a new overdraft facility or to increase your current limit click here
Qualifying criteria
- Remember, you will need to have a valid Standard Bank current account in order to apply for an overdraft facility. Alternatively, you can apply for a new current account and overdraft facility at the same
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