FNB Overdraft Loans are short-term loans that allow customers to get extra money whenever they need it without having to apply for it.
Unexpected occurrences might occur in life, forcing us to stretch or go above our budgets, leaving us penniless when we really need it the most. However, owing to the overdraft solution that you are eligible for, this does not have to be the case.
The overdraft option is standard with your check account, and the overdraft limit is set when it’s enabled. It is a handy credit facility connected to your active account that provides you a personalized interest rate and the flexibility to use it just when you need it, allowing you to successfully navigate life’s challenges.
Overdraft loans are a great credit option since they provide you with a financial safety net anytime you need it and, best of all, you don’t have to pay anything if you don’t use it.
Why choose FNB Overdraft Loans?
An overdraft facility is a line of credit that allows you to access additional cash while making purchases or payments, even if your bank account balance is zero.
This implies that if you have R1000 in your bank account and want to buy something for R5000, FNB will lend you the extra R4000 without requiring you to visit a branch and fill out an application form.
You’ll proceed with your purchases and payments as if you had the full R5 000 in your bank account.
The maximum credit limit on FNB Overdraft Loans is generally established when you apply for the overdraft facility. The amount you qualify for will be determined by your monthly income as well as your credit history.
When you use the overdraft facility for more than R200, you will be charged, and the repayments have no set minimum monthly payment, so you may pay it off whenever you choose.
You will not be charged if you do not utilize the facility; nevertheless, it will remain accessible for use whenever you need it.
FNB Overdraft Loans Application Requirements
You must be a FNB Cheque Account holder with a South African ID or a valid permit if you are a foreigner, and you must produce your most recent pay slip and evidence of residency to utilize the FNB Overdraft Loans feature.
Overdraft loans are accessible to both people and corporations, and they help them to meet their financial responsibilities without running out of money.
FNB Overdraft Loans Contact Details
Visit your closest FNB branch and speak with one of their advisors to learn more about how you may benefit from the FNB Overdraft Loans program. You can also visit their website at www.fnb.co.za for additional information or phone them at 087 575 9404.