Do you want to have a bit of extra money available in your account should you need it? An 
Absa Overdraft on your cheque account could be the answer.

If you're already registered for Absa Online, apply here. It's quick and easy.

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Not an Absa customer or registered for Absa Online banking? No problem.
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With an overdraft you can bank on the following

Ensures timely payments are made

Cover any shortfalls in your account or monthly cash flow, up to an agreed limit.

Personalised interest

We tailor-make the interest rates based on your individual risk profile.

How it works

Terms and Conditions

 Claim forms.

We offer affordable Credit Protection Plans

An affordable plan that settles the outstanding balance if you die, become permanently disabled or get one of the dread diseases.

Choose how you pay off your overdraft

  • A fixed facility payment plan

    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 reduced facility payment plan

    A reduced 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 payment plan

    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.

To get your overdraft

You need to:
  • Earn R2 000 or more a month
  • Have an Absa cheque account or be in the process of applying for one
  • Have your spouse’s consent to apply if you are married in community of property
How it works:
  • Overdraft has an indefinite term
  • Maximum interest rate (APR): Prime +10.5%. Service fees of R68.40 if overdraft is used
  • On an overdraft limit of R15 000 where R8  000 of the overdraft limit is used, the interest charged on the limit is R100 at an interest rate of 15%. Total costs over a 12-month period would amount to R2 020.80, including service fees.
Bring the following:
  • A valid South African ID document or card
  • Valid passport if you are a temporary resident
  • Your latest payslip
  • Proof of your residential address such as a municipality or rates bill
  • Three months' bank statements
Overdraft benefits:
  • An overdraft is linked to your Cheque account making it easy to track and manage
  • Helps to maintain a good credit history by avoiding debit reversals due to insufficient funds
  • Ensures timely payments are made and avoid late payments penalties
  • You only pay interests for what you use
  • You also get an optional Credit Protection Plan to settle the outstanding balance in case of death, disability or retrenchment
Go online

Logon to your Absa Online account and apply for an overdraft or visit your nearest Absa branch.

You can also contact us on 0860 100 372 (Monday to Friday 08:00 - 18:00 and Saturday 08:00 - 13:00).


Need more help?

Let one of our consultants help you get the best loan for your needs.

Call us on:

0860 100 372