A revolving facility for salaried customers with 12 months tenor based on 50% of the net monthly salary
maintenance charges. No minimum account opening balance
overdraw from your accounts on a monthly basis
interest rates on the amount utilized
Access our Overdraft through your debit card or a cheque transaction on your current account.
It’s available when you need it. You do not need to apply for this facility every time you don’t have enough cash.
Overdraw cash from your salary account at the time you need it most to help tide you over the last few days of a difficult month.
Secure yourself against unexpected bills with our readily available overdraft facility.
Personal Overdraft is a revolving facility targeted at salaried customer with 12 months tenor and usually based on 50% of the net monthly salary of customer. The amount utilized is cleaned up every month once salary is paid and the limit becomes available thereafter.
Yes, you need to bank with us.
Once your application is received at the branch, it takes 24 hours for us to advise you on the status of your overdraft application.
Interest Rate: 1.25% per month, subject to change in money market conditions. However, notifications would be given at least (30) business days before any rate amendments are made.
Late Fees: 1% flat per month on unpaid amount in addition to charging current rate of interest on outstanding amount.
Your outstanding balance is fully repaid monthly upon receipt of your salary into your account maintained with the bank.
Maximum of 50% of the net monthly salary, subject to Single obligor limit equivalent of US$5,000 Overdraft limit and can only be in the same currency as the client’s salary account.
The limit will be renewed annually subject to a satisfactory performance.
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