Finance your Lifestyle



Want a reserve of extra money available in your account should you need it? An Overdraft on your current account could be the answer.

It can be easy to lose track of how much money is in your account when you’re busy and pay day can sometimes seem a long way away. An Overdraft from Absa provides you with a safety net of additional money, up to a pre-agreed limit, to cover everyday expenses when there’s nothing left in your account.

Absa offers three different overdraft options:

  • A fixed facility with a limit that revolves and is reviewed each year. You can keep using the funds, up to your agreed overdraft limit, as long as you make regular repayments. At the end of your contract year, your limit is renegotiated.
  • A reducing facility with a limit that decreases as you pay it off each month. This is a good option if you know you’ll only need to borrow for a short while and prefer not to have a revolving limit.
  • An indefinite facility with a limit that revolves for an unspecified period. You can keep using the funds, up to your agreed overdraft limit, as long as you make regular repayments.

Not for you? Find the right loan.

An Overdraft could be the right choice if you:

  • Would like a reserve of extra money available in your account should you need it
  • Want to know you can cover withdrawals that exceed your available balance
  • Have an Absa Gold or Platinum cheque account
  • Earn a regular income of R3 000 a month or more
  • Only want to pay interest on the daily balance of your account
Did You Know?
If you are an existing Absa customer, you can apply for a personal loan through Internet Banking, Cellphone Banking, at an Absa ATM or at your nearest branch.

What you get?
  • A short-term, limited credit facility available on your current account
  • Peace of mind, knowing that you can cover any shortfalls in your account or monthly cash flow, up to an agreed limit
  • Convenience, because your overdraft facility is granted for an agreed time period
  • Interest rates based on your individual risk profile
  • Interest that is only charged on the amount of overdraft you use each day
  • The ability to pay your loan off faster as additional deposits are accepted as capital reductions
  • Affordable Credit Protection Plan to settle the outstanding balance in the case of death, disability or retrenchment
Do I qualify for an Overdraft?

An Overdraft gives you access to money when you need it the most. In order to have access to an Overdraft, there are a few things you need to bear in mind:

  • You need to have a minimum monthly income of R3 000 and a good credit record
  • You must have an Absa Bank current account. Don’t have one? Apply here
  • You must have a valid ID (as a South African citizen) or passport number (as a temporary citizen)
  • If you are married in community of property, you need your spouse’s consent to apply

If you meet these criteria, then all you need to do is apply online (if you are a new customer) or logon to your Internet Banking and apply from there.

How to apply

Applying for an Overdraft is as easy as 1, 2, 3! If you are an Internet Banking customer, all you need to do is logon to your account and apply for an Overdraft (or extend your current Overdraft).

If you are a new customer, simply apply online by selecting cheque accounts and then Overdrafts as a sub-section under this product.

If you would rather deal with a consultant face-to-face, all you need to do is pop into your nearest branch for assistance or call us for more information.

Online Application
Complete a secure application form online

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