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From 13.99% (variable)
Interest Rate (p.a.)
$500
Min Loan Amount
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Product Name | First Option Bank Unsecured Overdraft |
---|---|
Interest Rate (p.a.) | From 13.99% (variable) |
Interest Rate Type | Variable |
Min Loan Amount | $500 |
Loan Security | Unsecured |
If you’re looking for an overdraft facility to get through times when of cash flow difficulties, taking a look at First Option’s unsecured overdraft makes sense. As with any overdraft, you are free to use funds up to the approved limit for just about any purpose.
The overdraft comes linked to a First Option Access account and a Visa debit card or Redicard, so you get easy access to funds as and when you need them through ATMs, EFTPOS terminals, online banking, and phone banking. You also have a number of options when it comes to making deposits.
Various aspects of the First Option Bank Unsecured Overdraft facility require your attention, and here’s what you should know:
First Option Bank gives you a clear indication of all associated fees and charges at the onset and you should go through these carefully before you take on the loan. While a number of transactions like direct debits, direct credits, BPAY payments and branch transactions are free, you will have to pay for certain others, such as when you use cheques and non-member ATMs.
What helps is that this overdraft facility tries to keep fees to a minimum, and its regular fee structure looks like this:
You can apply for the First Option Bank Unsecured Overdraft by visiting your nearest First Option branch, over the phone, or online. As part of the application process, you’ll have to provide a host of information, which includes the following:
This overdraft facility by First Option gives you the means to get by cash flow fluctuations with relative ease, but since there are other similar offerings out there, take some time to compare a few.