Salary Overdraft
Enjoy flexibility with an overdraft facility allowing you to overdraw up to UGX13.5M without collateral
Enjoy flexibility with an overdraft facility allowing you to overdraw up to UGX13.5M without collateral
when you need it most
limit up to UGX13.5M within 70% of your net income
through a hassle-free process
Interest is only charged on amount utilized and for the number of days utilized.
Both Unsecured and Secured overdraft facilities are available.
The facility can either be used through a debit card or through a cheque transaction on your current account.
Loan Amounts shall be varied by your income eligibility and our Credit Policy. Please use Loan calcualtor for estimate.
Loan Tenor may be varied based on your employer or length of service. Click apply to request for more detail
Get the overdraft limit marked on your Standard Chartered salary account provided all documents have been submitted along with the application form.
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.
Effective 2nd September 2022, our Base Lending Rate changed from 18.3% p.a. to 19.3% p.a. for Local Currency Loans and from 10% p.a. to 11% p.a. for Foreign Currency Loans. Please note that the loan pricing may vary from time to time. Please reach out to the Bank to know the prevailing loan pricing or rate.
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