Having trouble with your monthly expenses? Do you need an extra bit of cash to tide you over until the end of the month? The Absa Overdraft may be the solution for you. This service can assist by giving you the financial power to address any financial hurdles you are facing.
An overdraft is a facility on cheque accounts that allows individuals to borrow cash when their bank balance reaches a zero balance, without having to apply for a long-term loan.

Absa overdrafts provide clients with a safety net of additional money, up to a pre-agreed limit. Interest is payable only on the amount used when clients use the facility and if it isn’t used, they won’t incur any costs or pay anything.

Absa’s Overdraft is offered in 3 options:
Standard Overdraft: This option is valid for a 12 month period and renewed annually.
Reducing Overdraft: There is a limit on the overdraft; and it’s reduced monthly until the full amount is settled.
Temporary Overdraft: This option is available for a fixed time period and must be settled in full at the end of that period.

The Absa Overdraft facility includes an affordable Credit Protection Plan to settle the outstanding balance in the case of death, disability or retrenchment.

Who Qualifies?
Absa Silver, Gold medical, Professional or Platinum Cheque Account holders with a minimum income of R3000 qualify. The limit is dependent on individual credit profiles as well as monthly income. Clients need a good credit record for this facility.

How can you apply?
Individuals can visit their nearest Absa branch and their consultants will assist with any questions clients might have. Alternatively, call: 0860 100 372 or visit www.absa.co.za.
Overdrafts can be used through an ATM, Point of Sale (POS), Cell or Internet Banking, Debit
Order anytime, anywhere 24/7.