JustOne Overdraft Terms and Conditions

  1. The JustOne Overdraft ("Overdraft") is only available to individual customers who are single account holders of the JustOne Current Account. The JustOne Current Account refers to either:

    (a) the JustOne Personal Current Account;
    (b) the JustOne Priority Current Account.

  2. You must be at least 21 years of age at the time of application.

  3. You are only entitled to one Overdraft regardless of the number of JustOne Current Accounts you may hold with us.

  4. The Overdraft limit is capped at RM1,000.00 only. You will be charged interest at the rate of 3.2% p.a. on the amount of the overdraft utilized. Interest is calculated daily and charged monthly. The interest will be debited into the current account. Once the interest is debited into the current account, it will be considered as part of the outstanding balance.

  5. We may allow you to draw in excess of the Overdraft limit if we deem appropriate. In such an instance, please note that:

    (a) this is not a waiver of our right to require your Overdraft to be maintained within the limit;
    (b) you must pay the excess immediately upon demand by us; and
    (c) A higher interest rate of 4.2 % p.a. will be charged on the excess until it is repaid.

  6. The monthly minimum amount payable will be 5 % of outstanding amount or RM25, whichever is the higher. You may pay either the full amount or minimum amount payable each month. Any unpaid minimum payments due from previous statements will be carried forward to the following month and you will have to settle all these amounts in the following month as specified in that statement.

  7. In addition, if we do not receive the minimum repayment amount on or before the due date:

    (a) you may not be allowed to use the Overdraft until the minimum repayment has been paid; and
    (b) you may be asked to pay all accrued interest, previous months' minimum amounts which have not been paid, plus any other sum due to be paid to us, immediately.

  8. The Overdraft is valid for one year from date of approval, and is subject to review at any time. Upon such review, we may renew, terminate, suspend, or vary the limit of the Overdraft and/or impose additional conditions as we deem fit. If we do not renew the Overdraft, we may require you to repay all outstanding amounts and accrued interest immediately when we demand it in writing.

  9. You may cancel the Overdraft by giving us reasonable notice in writing. All outstanding balance and interest accrued must be settled in full before termination. If any outstanding balances or interest remains unpaid, these amounts will be treated as excess drawings on the account, and we are entitled to charge interest in accordance with clause 5(c).

  10. You must read these terms and conditions together with the Customer Terms, the terms governing Personal Loan/Term Loan/Personal Line of Credit/Overdraft/CashOne, and any other documents referred to in Part A of our Customer Terms forming our banking agreement. If there is any inconsistency between these terms and conditions and the Customer Terms, the terms governing Personal Loan/Term Loan/Personal Line of Credit/Overdraft/CashOne, these terms and conditions shall prevail.

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