The difference between a loan and overdraft

Should you take a loan or an overdraft? This article will help you decide

Personal loan or overdraft?

If you need to borrow money, you might be considering whether a loan or an overdraft is the better choice. Take a look at both options here, including the advantages and disadvantages, and make a decision that’s right for you.


Are you entitled to an overdraft?

You are entitled to an overdraft if your salary account is with us and your company is on our approved list for overdrafts. If you are working with a non-listed employer, just apply and our team will guide you. More details on how to apply here.

Other ways to borrow

You can also take a loan on your credit card for smaller expenses.

If you are making a big purchase, look for 0% interest-free installments on your credit card. This will save you interest while spreading out the payments over several months for free.

Look at our balance transfer plan to consolidate your debt and manage your payments better while paying less interest. If you’re struggling to pay back multiple loans, our debt consolidation programme will help.

View your loan details


View your overdraft details



We can check that for you and let you know. Apply now and have us call you back.

If you’re a primary active credit card holder you can apply for a loan on your card. The maximum amount you can apply for will be based on your available credit card limit and card usage including payment history. Learn more here.