Are you looking for information on how to apply for an overdraft at Nedbank? We will show you how to go about doing it in this article. An overdraft is a type of loan that is offered by banks around the world. It allows the bank’s customers to withdraw money that is beyond what is in their accounts. That can come in handy in the event of an emergency. If you need extra money, you can quickly access it without having to worry about the process of getting a loan. Repayments are done when money is deposited into your account.
How to Get a Nedbank Overdraft on the app
The following is how to apply for a Nedbank overdraft;
- Sign into the Nedbank app on your phone
- Go to Overdraft
- Complete the next processes to apply for an overdraft
Applying via internet banking
You can also apply for a Nedbank overdraft through internet banking. All that you need to do is to log into your account.
To do so, you will need to have a Nedbank ID. If you don’t already have an ID, you can register for one online.
What are the requirements when you apply for a Nedbank overdraft?
That’s how to apply for an overdraft at Nedbank in South Africa. But what are the requirements when you apply for an overdraft? The following are some of the requirements;
- You need to be at least 18 years old
- Only holders of a Nedbank account can apply. You can quickly open one online
- You should have a salary (or other earnings) or at least R6000 per month for current account holders.
- Your salary will need to be paid to the account for which you are opening an overdraft
- You will be asked to present a South African ID or a passport and work permit
- Also required is a bank statement going back 3 months showing your salary payments. This applies if the payments were previously not paid into Nedbank.
- You need a copy of a recent payslip
In this article, we showed you how to apply for an overdraft at Nedbank in South Africa. An overdraft allows you to get money beyond what is currently in your account. This can come in handy in the event that you need money in an emergency. An overdraft is a type of a loan, though it is slightly different.