An overdraft is a fluctuating loan facility that is individually tailored to meet the needs of Prestige and Private Banking customers who require short-term finance

What does it offer me?

  • An overdraft provides you with cash for unplanned expenses
  • An overdraft will provide you with the comfort of knowing that you have instant access to extra cash for emergencies
  • You can use as much of your agreed overdraft limit as you need whenever you need it
  • The total agreed limit is always available to you for use
  • You only pay interest on the portion of your overdraft used in any given month.
  • There is no monthly repayment required. Your salary should be deposit into your transactional account on a monthly basis
  • You have the option of taking out insurance on your overdraft facility. This will give you peace of mind knowing that your loan will be settled in full in the event of disability, dreaded disease or death


What is a Loan Protection Plan?

This covers your overdraft with us in the event of disability, dread disease or death

 Who can have it?

Anyone who is under 65 years of age at the next birthday, in good health and has not undergone treatment for any condition other than minor ailments

 How does it work?

  • If you become disabled, are diagnosed with a dread disease or upon death, this policy will immediately pay off your Standard Bank overdraft
  • We’ll calculate your premiums according to your outstanding balance, age and the type of cover you want
  • No medical examination is required
  • The policy gives you flexibility as you can choose the cover that best suits your needs.

You can choose from:

  • Plan A – death, disability and retrenchment
  • Plan B – death, disability, retrenchment and dread disease
  • Plan C – death, temporary disability and retrenchment
  • You can take our cover for up to N$500 000. This is the maximum amount that will be paid out to you

 *Terms and conditions apply

What are the main exclusions?

  • Any pre-existing conditions for the last two years will be excluded from the first two years
  • Suicide within the first two years of the policy

Qualifying criteria

  • Have a Standard Bank Prestige or Private Banking current account where your salary is deposited monthly
  • Be a Namibian citizen
  • Be 21 years or older (Below the age of 21 years, guarantor should sign suretyship)
  • Have an acceptable credit record and risk profile
  • Earn a minimum gross monthly salary of at least N$20 000 or more

What do I need to apply?

Visit your nearest Standard Bank branch with the following documentation:

  • Proof of Income (Latest Payslip)
  • A valid identity document / Valid Passport
  • Proof of address, which may be in a form of a utility bill

Rates and fees

  • There is a once off initiation fee charged to new overdraft facilities
  • A monthly service fee will be charged on your overdraft limit
  • All fees charged are regulated by the National Credit Act and will not exceed the limits determined by the act