Manage smaller unexpected expenses with an overdraft. If you’re looking for a short-term buffer, an overdraft is a flexible option that you can access from your everyday account.
At a glance
- Borrow up to the agreed overdraft limit, minimum $500 and maximum $10,000
- Only pay interest on the amount you use
- Linked to your everyday account, so you can access it whenever it suits you
Eligibility
To be eligible for an overdraft, you must:
- Meet our lending criteria and have a good credit history - we'll do a credit check as part of the application process
- Be a permanent New Zealand Resident
- Be 18 years of age or over
- Have a regular income
You can find the Overdraft Rates, Fees and Terms and Conditions here.
Frequently asked questions
How much can I borrow?
The minimum overdraft limit is $500 and the maximum overdraft limit is $10,000. Give us a call or come in and see us to discuss your options.
How long will it take?
We need to be comfortable that your financial situation can support an overdraft. As part of the application, you may need to provide information about your income, expenses, savings, deposits, and any other loans or debt. 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 from your everyday account.
What does it cost?
There are no fees on a TSB overdraft.
You’ll only be charged interest on the overdraft amount you use, not on the overdraft limit. Interest is calculated daily on the end of day overdrawn balance and charged monthly on the last working day of the month. You can find all the information about Overdraft rates and fees here.
Don't forget to read this bit
TSB’s current lending criteria, overdraft terms and conditions, interest rates and fees apply. When you bank with TSB you agree to our General Terms.