Overdraft
Get instant access to additional funds with our Overdraft facility; putting financial freedom in your hands when you need it the most.
R
8 000
Minimum monthly income
R
250 000
Maximum loan amount
Recurring
Months to repay
Personalised
Interest rate
*
Available to transactional account holders
Some of the benefits
24/7 Access
Your Overdraft is linked to your bank account, so you can access money whenever you need it
Increase limit online
Change your Overdraft facility limit via the Banking App or Online Banking
Pay as you go
Only pay interest on the amount that you’ve used from your facility during the month
No fuss
Avoid minimum monthly repayments as the facility is topped up when your salary gets deposited
How it works
- An Overdraft is linked to your current account, allowing you to borrow money through your daily banking transactional account, making it easier to stay on top of your finances
- This means there is no need to track or manage a separate credit account, or to transfer available funds between accounts
- It is a great solution for any temporary cash flow problems, unexpected expenses or emergency costs
- You can increase or decrease your Overdraft limit on the Banking App or Online Banking
- Your Overdraft can be insured for disability, retrenchment, dread disease or death
What it costs
- No minimum monthly repayments are necessary, as your facility gets topped up when your income
- You only pay interest on the amount you’ve used during the month
- Monthly service fee: R69 (only applies when you use over R500)
- Once-off initiation fee: Up to R1 207.50 (VAT included), depending on your Overdraft amount
- Personalised interest rate
Increase your limit
How to increase your limit on Online Banking:
- Sign into your Online Banking profile
- Navigate to the “Transact” tile and select “Manage”
How to increase your limit on the Banking App:
- Sign into your Banking App
- Tap on your transactional account widget
- Scroll down until you see the Overdraft tile
- Click “Increase limit” and follow the steps
Approval is subject to credit checks and Financial Intelligence Centre Act (FICA) requirements.
How to get it
If you’re a Standard Bank customer:
- You can apply on this page, by clicking ‘Do I qualify’
- Apply on our Banking App:
- Sign in and tap on your transactional account widget
- Scroll down until you see the Overdraft tile (Only visible if you qualify)
- Click “Apply” and follow the steps
- Accept your offer
- Apply via Online Banking:
- Sign into Online Banking
- Click on the “Borrow” tab
- Complete the affordability assessment and follow the simple steps
- If your Overdraft has been approved, you will receive a final offer
- Accept the offer
Or - Select “Manage” on your transactional account on your dashboard
- Select “Overdraft Limit”, then click “Continue” and follow the prompts
Or - Click “Transact” on your Online Banking home screen
- Select “Manage” then click on “Overdraft Limit”
- Follow the prompts to unlock your overdraft facility
Or - Click "Profile & Settings", select 'Overdraft Limit'
- Click "Continue" and follow the prompts
- Call us on 0860 123 000 , or
- Visit your nearest branch
If you’re a Standard Bank customer:
- Open a transactional account* to access our credit facility
- You’ll need a minimum monthly income of R8 000
- You can:
- Apply for a bank account online, or
- Call us on 0860 123 000, or
- Visit your nearest branch
*The overdraft facility isn’t available on Access Account. You must be over 18 to apply.
*Approval is subject to credit checks and Financial Intelligence Centre Act (FICA) requirements.
-
How it works
-
What it costs
-
Increase your limit
-
How to get it
- An Overdraft is linked to your current account, allowing you to borrow money through your daily banking transactional account, making it easier to stay on top of your finances
- This means there is no need to track or manage a separate credit account, or to transfer available funds between accounts
- It is a great solution for any temporary cash flow problems, unexpected expenses or emergency costs
- You can increase or decrease your Overdraft limit on the Banking App or Online Banking
- Your Overdraft can be insured for disability, retrenchment, dread disease or death
- No minimum monthly repayments are necessary, as your facility gets topped up when your income
- You only pay interest on the amount you’ve used during the month
- Monthly service fee: R69 (only applies when you use over R500)
- Once-off initiation fee: Up to R1 207.50 (VAT included), depending on your Overdraft amount
- Personalised interest rate
How to increase your limit on Online Banking:
- Sign into your Online Banking profile
- Navigate to the “Transact” tile and select “Manage”
How to increase your limit on the Banking App:
- Sign into your Banking App
- Tap on your transactional account widget
- Scroll down until you see the Overdraft tile
- Click “Increase limit” and follow the steps
Approval is subject to credit checks and Financial Intelligence Centre Act (FICA) requirements.
If you’re a Standard Bank customer:
- You can apply on this page, by clicking ‘Do I qualify’
- Apply on our Banking App:
- Sign in and tap on your transactional account widget
- Scroll down until you see the Overdraft tile (Only visible if you qualify)
- Click “Apply” and follow the steps
- Accept your offer
- Apply via Online Banking:
- Sign into Online Banking
- Click on the “Borrow” tab
- Complete the affordability assessment and follow the simple steps
- If your Overdraft has been approved, you will receive a final offer
- Accept the offer
Or - Select “Manage” on your transactional account on your dashboard
- Select “Overdraft Limit”, then click “Continue” and follow the prompts
Or - Click “Transact” on your Online Banking home screen
- Select “Manage” then click on “Overdraft Limit”
- Follow the prompts to unlock your overdraft facility
Or - Click "Profile & Settings", select 'Overdraft Limit'
- Click "Continue" and follow the prompts
- Call us on 0860 123 000 , or
- Visit your nearest branch
If you’re a Standard Bank customer:
- Open a transactional account* to access our credit facility
- You’ll need a minimum monthly income of R8 000
- You can:
- Apply for a bank account online, or
- Call us on 0860 123 000, or
- Visit your nearest branch
*The overdraft facility isn’t available on Access Account. You must be over 18 to apply.
*Approval is subject to credit checks and Financial Intelligence Centre Act (FICA) requirements.
The maximum loan amount is R200 000. No minimum monthly repayments apply. The facility is topped up when your income is deposited into your account. The monthly service fee is R69 and the once-off initiation fee depends on the loan amount, ranging from a minimum of R86.25 to a maximum of R1207.50 (VAT inclusive). Our interest rates are personalised and range from a minimum of prime plus 1.5% to a maximum of prime plus 10.5% as per the NCA regulation. The Annual Percentage Rate (APR) for your personal loan is a maximum of prime plus 10.5%.
Frequently asked questions
What is an overdraft?
An overdraft is a convenient, short-term credit option linked to your current account, giving you immediate access to money, up to an agreed limit, whenever and wherever you may need it.
It is a good safety net that allows monthly debit orders and timely payments to be honoured even after you’ve exceeded your available funds, helping to protect your credit record and avoid late payment penalties.
What is the difference between an overdraft, revolving loan and credit card?
An overdraft is a credit facility linked to your current account, allowing you to spend more than your balance up to a limit that has been granted. You only pay interest on the amount used, with no fixed repayment schedule. It's ideal for short-term cash flow management.
A revolving loan has a fixed monthly repayment but flexible borrowing. You can borrow again up to the original limit after repaying 15% of the loan. It’s suitable for larger, ongoing expenses with structured payments.
A credit card is designed for smaller, everyday purchases. It offers interest-free periods (if paid off in full each month) and includes benefits like travel and lifestyle rewards. Interest is charged on any unpaid balance after the due date.
What is an overdraft fee?
It’s a monthly fee charged on overdraft accounts with an active limit, regardless of whether you used the facility or not. This fee is a cost for maintaining the overdraft facility.
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