If you are in need of an extra money and you are an absa customer then you qualify for an absa overdraft, the absa overdraft is a kind of a short term loan that gives you room to breath until you get paid.
How does it work
An Overdraft from Absa provides you with a safety net of additional money, up to a pre-agreed limit, to cover everyday expenses when there’s nothing left in your account.
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 could be the right choice if you:
- Would like a reserve of extra money available in your account should you need it
- Want to know you can cover withdrawals that exceed your available balance
- Have an Absa Silver, Gold, Professional or Platinum cheque account
- Earn a regular income of R3 000 a month or more
- Only want to pay interest on the daily balance of your account