Nedbank Overdraft Loans is credit solution available for people with current accounts to provide additional funds to the balance. The facility is a short-term loan that is available immediately when you need the most. You only pay interest when you use a portion of the facility.
Why choose Nedbank Overdraft Loans?
Nedbank offer additional access to more funds in the form of Overdraft loans to customers with current banking account. The main aim of the purpose is to help people looking for small extra cash at the lowest and affordable interest rate. The facility is very convenient because you do not need to have an additional card for the overdraft. An Overdraft is linked to the transactional account, and there is no need to open a separate account.
The Overdraft loan is available at all the times, regardless of whether it used or not. You don’t even need to transfer money between accounts because they will all be linked as one. You will be charged a certain fee for the usage of the additional funds.
Interest will be charged on the portion of the overdraft utilised. The limit increases a client’s available balance, and there are no restrictions on the type of transactions clients can perform on their Overdraft facility, up to their credit limit.
Who can apply for Nedbank Overdraft Loans?
To qualify for access to the facility, you need to have a Nedbank’s current account accompanied by the following documents:
- A valid SA Bar-coded Identity book
- Proof of residential address
- Proof of income (i.e. salary slip)
- 3 Months Bank Statements
Nedbank Contact Information
Find out more information on how to use the overdraft facility by calling Nedbank directly on 0860 555 111. You can always visit any of the Nedbank branches across South Africa. Alternatively visit their website on www.nedbank.co.za and read more.