Overdraft Loan
Instant fund assistance for emergencies. Instant cash support for a temporary cash shortfall. Also, avail various other banking services that can meet your needs.
In times of a temporary cash shortfall, Overdraft from Emirates NBD gives you the power to draw against your salary or Fixed Deposit for a much needed instant cash support. Take advantage of this unique Overdraft facility and confidently manage your expenses or honour your financial commitments.
- Cheque bounce protection
- Ideal for emergency cash requirements
- Easy repayment options
- Pay only for the amount and the time period used
- Easy documentation
- Instant cash support
- 90% of your net monthly salar
- 2 times your net monthly salary
- 90% of the Fixed Deposit under lien with us
To Apply:
Call 600 54 0000 SMS "OD" to 4454 Send e-mail to: overdraft@emiratesnbd.com Visit your nearest branch
- For an overdraft of 90% of your net monthly salary, a minimum salary of AED 3,000 is required
- For twice the amount of your net monthly salary, a minimum salary of AED 10,000 is a must
- Or, get an overdraft for 90% of the Fixed Deposit under lien with the bank
To Apply:
Call 600 54 0000 SMS "OD" to 4454 Send e-mail to: overdraft@emiratesnbd.com Visit your nearest branch
What is an Overdraft?
It is a limit granted on your current account that allows you to withdraw up to this amount even when there is no funds / credits available in your account.
Am I eligible for Overdraft?
Yes, if your salary account is with us and your company is on our approved list for overdraft facility. Your minimum net monthly income must be AED 3,000 per month.
What is the amount I can get as an overdraft?
There are 2 types of Overdraft you can choose from:
- Overdraft against salary transfer:
a. Overdraft limit up to 90% of net monthly salary
b. Overdraft limit up to 2 times of net monthly salary - Overdraft against FD - Fixed Deposit with ENBD will be marked under lien for the OD facility. Overdraft Limit will be 90% of the Fixed Deposit.
Is it mandatory to have ENBD Personal loan to avail Overdraft facility?
Yes, if Overdraft limit requested is 2 times of your net monthly salary, Overdraft must be availed in conjunction of Personal Loan.
No, if Overdraft limit requested is 90% of your net monthly salary, you can avail standalone Overdraft facility.
How many salary credits are required before availing this facility?
Once your Overdraft application is processed and approved, limit will be made available in your account immediately if you have an existing salary transfer. Otherwise, limit will be made available after the first salary is credited.
How do I utilize this amount?
This amount is made available in your account. It can be withdrawn through the regular modes i.e. ATM, cheques, online transfers.
When will my limit get renewed?
Based on the account performance and salary credits, the limit will be renewed after 12 months.
How is the interest calculated on Overdraft?
The best thing about Overdraft is that you are charged interest only for the amount and period of time used. In case you have not used the Overdraft amount granted, you will not be charged of any interest.
For instance, your Overdraft limit is AED 10,000 and have utilized only AED 1,000 for 7days, at the rate of 24% p.a. you will be charged approximately AED 4.6 interest for that month.
(AED 1,000 x 24% / 365days * 7 days)
To Apply:
Call 600 54 0000
SMS "OD" to 4454
Send e-mail to: overdraft@emiratesnbd.com
Visit your nearest branch
Click here for information on the loans processes and schedule.