An overdraft facility on your cheque account helps you manage those unexpected shortfalls of available cash without needing to go through the formal application processes required for a long-term loan.
Absa offers three different overdraft options:
- Standard — granted for a period of 12 months and reviewed annually
- Reducing — the limit on the overdraft facility is reduced on a monthly basis, until the full amount is settled
- Temporary — granted for a fixed period of time only and must be settled in full at the end of that period
An Overdraft facility is available on your Absa Silver, Gold, Medical, Professional or Platinum Cheque Account. It takes care of daily cash flow needs with a credit limit on your current account depending on your credit profile and montly income. If you earn a regular income of R3 000 a month you may qualify.
- Withdraw money when the available balance on your current account is insufficient.
- Standard overdraft granted for 12 months.
- Reducing limit overdraft is reduced on a monthly basis until the overdraft is settled.
- Temporary or bridging overdraft is granted for a fixed period.
- Only pay interest on the amount used when you make use of the Overdraft.
Access your Overdraft via ATM, Debit Order, Point of Sale(POS), Cellphone and Internet banking, 24/7.
Contact your nearest branch: