When you need some emergency cash or just decided to make that dream a reality, an Absa Overdraft facility with your cheque account could be the answer for you. Apply now and manage your cash flow.
With an overdraft, you can bank on the following:
Timely payments
Get immediate payment made into your account upon approval, and if you don't use it you don't pay for it.
Competitive interest rates
We offer the best interest rate in the market, which is tailor-made based on your risk profile.
Credit Protection Plan
An affordable plan that settles the outstanding balance if you die, become permanently disabled or get a dreaded diseases.
Manage my cash flow
Get an overdraft to help you manage your cash flow or cover any unexpected expenses. Apply now and avoid late payment penalties.
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What you need to know
An overdraft is a revolving credit facility loaded into your Cheque account. The facility gives you access to additional cash to cover any unplanned expenses and is reviewed every year. You should also make regular deposit into your Cheque account to keep the account up to date.
Repayment term:
An overdraft facility comes with a flexible repayment plan. You only pay a once off initiation fee of up to R175.00 on a new facility, a monthly service fee of R69 and monthly interest on the portion of the overdraft limit that you used.
Interest rate:
Personalised Annual Percentage Interest Rate (APR), up to the maximum of Prime +10,5%.
Estimated interest repayment:
The estimated monthly interest repayment for an overdraft limit of R15 000 at an interest rate of 15% per month where R8 000 of the overdraft limit has been used is R100.
Credit Protection Plan:
You can take up a Credit Protection Plan that will cover you in case of death, disability, critical illness or loss of income.
Applying is easy
Need more help?
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