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Overdraft
An Overdraft is a revolving credit facility linked to a current account that provides access to additional funds.
You can have peace of mind that we will offer you the right amount based on affordability and repaymentability at the best interest rate, ensuring that you maintain a good credit record.
An Overdraft is a revolving credit facility linked to a current account that provides access to additional funds.
You can have peace of mind that we will offer you the right amount based on affordability and repaymentability at the best interest rate, ensuring that you maintain a good credit record.
An Overdraft is a revolving credit facility linked to a current account that provides access to additional funds.
You can have peace of mind that we will offer you the right amount based on affordability and repaymentability at the best interest rate, ensuring that you maintain a good credit record.
An Overdraft is a revolving credit facility linked to a current account that provides access to additional funds.
You can have peace of mind that we will offer you the right amount based on affordability and repaymentability at the best interest rate, ensuring that you maintain a good credit record.
Features and Benefits
- An Overdraft is linked to your transactional account, and there is no need to open a separate account
- There is no need to transfer available funds between accounts, as the additional funds are linked to your transactional account
- The overdraft is available whether it is utilised or not
- A fee for the service is charged whether the overdraft facility is utilised or not
- Use the full limit granted or a portion thereof; interest is only charged on the portion of the overdraft utilised
- The limit increases the available balance on your account, and there are no restrictions on the type of transactions that you can perform on the overdraft facility, up to the credit
limit - Competitive interest rates are offered compared to other lending products
- Credit Life provides you with peace of mind in the event of death, disability and retrenchment
Who can apply?
To apply for a Nedbank Overdraft you need to have:
- A Nedbank transactional Current account.
- A valid Lesotho passport or identity document.
- Proof of residence.
- Proof of income.
- 3 Months Bank Statements.
The bank will conduct a risk and an affordability assessment to see if you qualify.
All loan applications are subject to final credit approval and terms and conditions.
Additional Information
Useful links & Contacts
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