what is an overdraft?

What is an Overdraft?

Stanbic IBTC Bank is one of the banks in Nigeria that offers you an overdraft facility. An Overdraft can be the solution when money is tight and you need some extra cash. Overdrafts can be revolving, which means you can use it over and over when you need it. You can renew your overdraft after 12 months, subject to a satisfactory review.

What does it offer you:

  • Quick access to money
  • Flexible payment options
  • Affordability and security.

What you need to apply:

  • You must earn at least N40 000 and have a salary account with us for at least three months.
  • The minimum loan amount is N20 000.
  • You must have been with your employer for at least six months.
  • You must be 21 years and above (but not older than 60 years when the facility would end)
  • If you are a contract worker, you need to be contracted to an approved company and must have valid contract terms.

For more information:

Please visit a Stanbic IBTC Bank branch near you or call 0700 CALL STANBIC (0700 2255 7826242) or +234 01 270 9676 or e-mail us: [email protected]

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