Standard Bank Overdraft allows you to have a credit facility loaded to your current bank account giving you instant access to extra cash which you can use for emergencies or unplanned expenses. Having an overdraft facility helps because it gives you the ability to use funds that are beyond your zero bank balance, meaning even if you don’t have any funds in your account you can still make purchases up to an agreed limit.
Why choose an Standard Bank Overdraft?
Standard Bank Overdraft allows you the ability to be more flexible with your finances by giving you access to extra funds whenever you need them, as long as it is within the stipulated credit limit. You no longer have to worry about having a zero balance in your bank account when emergencies come your way, with Standard Bank you make purchases or payments with ease. The amount of overdraft limit on your current account is determined by your credit profile and affordability.
The other advantage of having the Standard Bank Overdraft is that you are only charged when you use it, if you don’t use it there are no charges that you pay. There are no monthly repayments required and you can take an overdraft of R500 limit with no initiation or service fee. Once your overdraft facility is activated you can increase or decrease the limit using their self-service channels.
Standard Bank Overdraft Requirements
To access the Standard Bank Overdraft facility you must have an active Standard Bank Current Account, must be above the age of 21 years and employed permanently, must be earning at least R3 000 a month, must have a South African Identity Book or Permanent Resident Permit and lastly you should have a good credit profile. Current Account holders can apply for an overdraft facility through tel, cell and internet banking, or can send an sms with the word “overdraft” to 31645 and their consultants will contact you.
Standard Bank Overdraft Contact Details
For more comprehensive information regarding how you can make use of the Standard Bank Overdraft visit their website www.standardbank.co.za or contact their call centre on 0860 123 000 and speak to their consultants. You can also visit your nearest Standard Bank branch and apply for an overdraft facility in-branch.