Eligibility to apply for an Overdraft

You will need to:

• be over 18 years of age
• be an Australian resident
• apply in personal names, and
• have a permanent monthly income and/or a stable job.

To take out an Overdraft with SERVICE ONE, you will need to become a Member. Find out about becoming a SERVICE ONE Member.

How much can I borrow?

The maximum amount you can borrow is dependent on your application and your individual situation. Use our calculators to get a sense of what you can borrow (links below).

How is the interest calculated?

Interest is calculated daily and charged monthly.

How long do I have to repay my balance?

An Overdraft is a continuous credit contract up to your agreed limit.

How do I make repayments on the Overdraft?

You can arrange to make your loan repayments either by payroll deduction, transfer from your savings or transaction account, Internet or telephone banking transfer, at any one of our Branches, or by a direct credit from another financial institution. Learn more about these methods of repayment.

How often will I receive information on my account?

Statements are issued monthly. A transaction list can be requested at any time from our Branches, however a fee may apply for duplicate statements. This information is also available through eLink Internet banking.