An overdraft is a working capital facility on your cheque account that is made available to you as a short-term debt financing measure, and can be used to manage your cash flow, projects and seasonality.
Benefits of an Overdraft Facility
Quick and easy online application process.
Access funds when and how you need it.
Only pay interest on the outstanding balance.
Manage Your Limit
Choose the working capital amount that will suit your business
Applying is easy
- The money is available in the customer’s cheque account should the business need it.
- Reviewable annually
- Pricing is risk based and bespoke
- Interest is charged on a daily balance, monthly in arrears.
- Interest is charged only on the amount used.
- An overdraft facility must fluctuate and is repayable on demand
- A monthly ledger fee, Unutilized Facility Fee and Review Fee or Initiation Fee are payable
- Personal suretyship of the principal.
- Hold an active business current account with us.
- South African ID document
- Proof of address
- Financial Statements
- 3 months bank statements Optional
If you’re an existing customer:
Contact your Banker.
If you’re a new customer or you don’t bank with us, call us on:
0800 227 592