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Product not available for sale after 4 July 2021
Personal Overdraft is a credit facility that can be a feature of selected ANZ everyday accounts. It gives you the convenience of extra cash, with the flexibility to pay for anything from unexpected bills to large purchases whenever you like.
Personal Overdraft could be added as a feature to these ANZ everyday accounts: ANZ Access Advantage, ANZ One and ANZ Premium Cash Management.
You’ll have easy access to the money, but you won’t pay any interest charges on any credit you don’t use.disclaimer
With a Personal Overdraft, you can use and repay funds as it suits you — you’re in control.
Simply access funds in the same way as you normally bank, including the ANZ
The variable interest rate |
disclaimer |
Approval fee
Credit limit: Under $20,000 |
$100 |
Credit limit: $20,000-$49,999 |
$200 |
Credit limit: $50,000 and over |
$500 |
Credit limit |
$1,000 minimum |
Credit facility fee (advised on applicationdisclaimer)
Credit limit: Less than $20,000 |
$200 p.a. |
Credit limit: $20,000 or more |
1.7% of the limit p.a. |
If you'd like to close your overdraft facility, you must first clear any outstanding amount owing on your account. You can then request to close the facility in the following ways:
Please note, where your facility is held in joint names, we will need authority from all account holders.
For more information about your account, please refer to the ANZ Assured and Personal Overdraft Terms and Conditions (PDF).
The Personal Overdraft product will not be available for sale after 4 July 2021.
All existing customers with a Personal Overdraft facility will not be impacted by this change and can continue to use their product as usual.
No, after 4 July 2021, Personal Overdrafts cannot be transferred to any other Everyday bank account.
No, from 4 July 2021, it is not possible to reinstate a Personal Overdraft that has been closed.
In line with ANZ’s product simplification program, ANZ has decided to stop selling the Personal Overdraft product.
This change is effective from 4 July 2021. After this date, ANZ will not accept new Personal Overdraft applications.
All applications for credit are subject to ANZ’s credit assessment criteria. Terms and conditions are available on application. Fees and charges apply. Australian credit licence number 234527.
Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the ANZ Assured and Personal Overdraft Terms and Conditions (PDF 131kB), ANZ Personal Banking Account Fees and Charges (PDF 175kB) and the Financial Services Guide (PDF 104kB) which are available at anz.com or by calling 13 13 14, before deciding whether to acquire, or continue to hold, the product. Fees, charges and eligibility criteria apply.
Apple, the Apple logo, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
Android, Google Play and the Google Play logo are trademarks of Google Inc.
The interest rate applicable as at is but is variable and may change.
ReturnThe ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available here for iOS (PDF) and here for Android (PDF) and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.
ReturnThe Credit Facility Fee is debited to your account in arrears on a monthly, quarterly or annual basis (as applicable) from the date on which your account was opened. The fee is calculated by dividing the annual Credit Facility Fee by 366, then multiplying that figure by the number of days the facility is in effect for that relevant cycle.
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