An overdraft is a short-term borrowing facility offered on a current account which provides you with flexibility in dealing with unforeseen expenses. You can easily use the funds at any time by simply writing a cheque or using your debit/ATM card.
- enjoy extra benefits on your Term Deposit
- get an Overdraft against your Term Deposit with us
- overdraft against your Term Deposit is a convenient way to manage any unforeseen or urgent expenses without the need to break your Term Deposit before maturity
You can also enjoy:
- competitive interest rates on your overdraft
- no arrangement or processing fees
- flexible repayments on the Overdraft paying only for the utilized amount
- overdrafts up to 95% of the Term Deposit in AED, USD and GBP
- valid Emirates ID required
- you're aged between 21 to 65 years
- you earn a minimum monthly income of AED 7,500
Subject to income being transferred to HSBC. Terms and Conditions apply.
If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.