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Overdraft
Use as often or as little as you like.
About our overdraft (RediCredit)
RediCredit is an overdraft which is attached to your Everyday account or Everyday Direct account. If you don’t have sufficient funds in your account it will access your overdraft. Use it as often or as little as you want and for any purpose – it’s that flexible.
Features of RediCredit overdraft
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An approved credit limit as low as $500. |
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Up to $10,000 credit limit for individuals or up to $20,000 for joint accounts. |
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Up to $20,000 credit limit for Edvest members or $40,000 for joint Edvest members, provided both account holders are Edvest members. |
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No monthly or ongoing fees. |
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A low interest rate that’s only charged when you use it and only on the portion used. |
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If you’re a tertiary student you’ll pay an even lower interest rate with our RediCredit for Students. |
Rates and fees
Interest rate effective 1st August 2008 |
Interest rate type |
variable |
Annual percentage rate |
RediCredit |
12.64% |
RediCredit for Students |
12.05% |
Fees and Charges |
Application fee |
No |
Monthly fees |
No |
Redraw fee |
No |
Penalty for early repayment |
No |
Have you considered?
Visa debit card
With a Visa debit card you can use your RediCredit at more locations. Use it for shopping, paying bills, overseas holidays and anywhere Visa is accepted.
Edvest - Over 50s
If you’re 50 years and over why not join Edvest. Not only will you benefit from a higher RediCredit limit, you can also take advantage of many discounted services and access valuable financial information.
Before you apply
Allow 10-15 minutes to complete an application and have the following ready:
- current payslips
- drivers licence details
- details of regular expenses eg other loans and credit cards
- details of any other income you might receive.
Apply for overdraft (RediCredit)
There are three easy ways to apply for a RediCredit.
1. Online - It is quick, easy and secure. Remember to save your application so you can retrieve it any time.
> Apply online now > Retrieve an application
2. Phone - Call 13 12 21 8am to 7pm, weekdays or 9am to 3pm, Saturday.
3. Paper - Complete the application and return it with supporting documentation.
> Download and print the application
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Make the most of your personal loan
Learn about your options when making repayments, redraw and more.
