At a glance

  • Access to extra funds up to the agreed overdraft limit
  • Only pay interest on the amount you use 
  • Linked to your everyday account, so you can access it whenever suits


To be eligible for an overdraft, you must meet the following criteria:

  • Be a permanent New Zealand Resident
  • Be 18 years of age or over
  • Have a regular income
  • Meet our lending criteria and have a good credit history. 
    We’ll do a credit check as part of the application process.
  • Have your main source of income directly credited to your everyday account

See full Lending Terms & Conditions


Frequently asked questions

  • How much can I borrow?

    The minimum overdraft limit is $500. Give us a call or come in and see us about what you're needing.

  • How long will it take?

    TSB needs to be comfortable that your financial situation can support an overdraft. As part of the application, you may need to provide proof of income and some details about your monthly expenses, assets and liabilities. Having this information handy can help speed the application process up.

    If you meet our lending criteria and have a good credit history, then the overdraft can be set up and available to use straight away.

  • How do I make repayments?

    You can treat repayments like a regular transfer in Online or Mobile Banking. Simply select ‘Transfer’ from the menu, select the account you’d like to make the payment from, then choose the account with the overdraft.

  • What does it cost?

    An establishment fee of $30 is charged to set up the overdraft on your everyday account. This fee is charged at the time your personal overdraft is drawn down. The fee covers the costs of assessing your loan application, document production and security verification, facility drawdown and activation.

    There is a $3.00 monthly overdraft fee, charged to the overdraft account on the last day of the month. This fee covers associated maintenance and reporting costs.

    You’ll only be charged interest on the overdraft amount you use. Interest is calculated daily on the overdrawn balance and charged at the end of each month.




Effective 19 July 2021. All interest rates are subject to change without notification. 

If you do not pay amounts when they are due, we can charge you interest on those amounts at the default interest rate, which is your interest rate +5.00% p.a

Overdraft type Variable rate
Unsecured overdraft From 15.39% p.a
Unarranged overdraft From 22.00% p.a



Other options to consider

When borrowing money, there are a few alternatives to consider. The best solution will depend on your personal finances, what you’re wanting to buy, and how you’re planning to pay the money back. Below are just examples – for more information or to find the best fit for you, contact the team.

Credit Card

A credit card gives you instant access to credit and you can either pay the complete amount owing on your monthly statement or spread the payments to suit. You can use it for all sorts of payments (up to your credit limit).

Personal Loan

A TSB Personal Loan is a convenient way to borrow money for a big purchase or to consolidate your debits by breaking the cost into manageable repayments. Plus, make extra repayments for free.