Nedbank Overdraft- Life if full of surprises and amongst those surprises can be unexpected expenses. You can be better prepared for such expenses by having the Nedbank overdraft facility in place.
This facility is a revolving credit facility linked to a current account and provides you with access to additional funds when you need them. The advantage of having this facility in place is that funds are readily accessible when you need them. The amount of Nedbank overdraft you will get will depend on your individual needs and affordability.
For you to qualify for the Nedbank Overdraft facility you must be a holder of a Nedbank transactional current account. This facility is linked to your current account which means there is no need to open a separate account. Once you apply for this facility and is approved it is available whether it is utilised or not. A fee is charged whether it is utilised or not whilst interest is only charged on the portion of the overdraft used.
If you are a Nedbank client and have a current account it is beneficial to have this facility in place. With a Nedbank overdraft you have a ready source of funds when you need them unlike trying to apply for a personal loan when faced with an emergency. The advantage is that your life does not have to come to a standstill as funds are readily accessible. It is unlike when you apply for a personal loan and have to wait for approval.
Another benefit is that competitive interest rates are offered compared to other lending products. You also get optional Overdraft Assurance (credit life) which will cover your overdraft in the event of death, disability or retrenchment.
Requirements To Apply For a Nedbank Overdraft Facility
- You must be 18 years or older
- A valid ID
- You must have a Nedbank transactional current account
- Proof of residence
- 3 months bank statements
- Proof of income
Nedbank Overdraft Facility Contact Details
To apply for the overdraft facility or for more information you can visit their website www.nedbank.co.za or call them on 0860 555 111.