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Extend your credit with an overdraft facility that links directly to your salary account providing you with money whenever you need it

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Extend your credit with an overdraft facility that links directly to your salary account providing you with money whenever you need it

Be at peace knowing you are covered with a fast and hassle-free salary overdraft

Get an instant line of credit with our overdraft facility that covers against unforeseen bills, allowing you to overdraw up to 70% of your net income

Features

Pay-as-you-use

Interest is only charged on amount utilized and for the number of days utilized.

Easy Access to Cash

Access our overdraft through your debit card or a cheque transaction on your current account

No set up fee

No processing fee will be charged when setting up your overdraft.

Eligibility & Documents

Eligibility

  • Salaried with a minimum gross salary of KES 75,000 per month*
  • A salary account with Standard Chartered Bank is required

Documents

  • Introduction letter from employer on company letterhead
  • Proof of income (certified copy of pay slip)
  • Last 6 months bank statements (for new accounts)
  • Copy of ID / passport

FAQs

  • There are no monthly fees or charges on the overdraft facility. Interest charges are levied only when you utilize the overdraft and only for the number of days and the amount that the facility is utilized.

  • We would normally process your facility in 3 days provided all the documents have been submitted along with the application form.

  • Yes, you need to bank with us. If you don’t have an account with us, you can apply for the overdraft with a letter of confirmation from your employer that they will transfer your salary to your newly opened Standard Chartered Current Account and we will then set up your salary overdraft.

  • No insurance cover is required on this overdraft facility.

Terms & Conditions

Related Links

Personal Unsecured Loan

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