Home Finance Nedbank Overdraft and Short-Term Loans

Nedbank Overdraft and Short-Term Loans

Alternative Loans
Alternative Loans

Nedbank Overdraft keeps your cash-flow working for you with a working capital finance solution, and it also allows you to pay creditors while waiting for incoming cash from stork or debtors. Such funds are really helpful when one needs immediate access to cash at low interest rate.

Why choose Nedbank Overdraft and Short-Term Loans?

At times your business needs cash-flow flexibility while you’re waiting for payments to come in, and you must make payments of your own so, A Nedbank overdraft facility is there to help you, to ideal solution. It provides working capital finance and unlock cash-flow. It provides the flexibility to borrow or repay when cash-flow allows. Overdraft facility makes funds accessible quick and easily through variety of mechanisms and it also calculate debit interest on the daily used amount only. Banking with overdraft is very easy you access with electronic banking, ATM’s and debit cards. As soon as your current account is active, you can simply apply for an overdraft facility and, once you’re approved and the pre-agreed conditions are met and the facility is made available immediately.

The facility is packaged with the following features and benefits:

  • An Overdraft is linked to the transactional account, and there is no need to open a separate account.
  • There is no need to transfer available funds between accounts, as the additional funds are linked to the transactional account.
  • The Overdraft is available whether it is utilised or not.
  • A fee for the service is charged whether it is utilised or not.
  • Interest is only 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.
  • Clients can either use the full limit granted or a portion thereof.
  • Competitive interest rates are offered compared to other lending products.
  • Optional Overdraft Assurance (Credit Life) provide clients with peace of mind in the event of death, disability and retrenchment.

What is required when applying for a Nedbank Overdraft?

Applying for overdrafts and short term loan is easy, you can either apply at your nearest branch or online. You must provide supporting documents in order to complete your application. You need to have a Nedbank account and must be permanently employed earning a minimum of R3 000. You must be 18 years or older, you must have a valid SA bar-coded identity document , prove of residential address, prove of income (i.e. salary slip.) And also  3 month bank statements.

Nedbank Contact Details

To find out more about Nedbank, simply call 0860 555 111 or you can also visit their website on www.nedbank.co.za. you can also visit any of the near branch for face to face interaction with their consultants