Short-term facility with flexible drawdown - interest only on amounts used. Includes insurance cover on death.
Variable (competitive rates)
Up to UGX 100,000,000
1-12 months
2% loan fee + UGX 15,000 stamp duty (for facilities ≥3M)
The Stanbic Bank Unsecured Personal Overdraft is a flexible short-term credit facility that allows you to access funds as needed, up to your approved limit. Unlike traditional loans, you only pay interest on the amount you actually use, making it an economical option for managing cash flow gaps.
This facility includes insurance cover on death, providing peace of mind for you and your family. With competitive variable interest rates and no collateral requirements, this overdraft facility offers a convenient way to access funds when you need them.
An overdraft is a flexible credit facility that allows you to withdraw funds up to a pre-approved limit. Unlike a regular loan where you receive a lump sum and pay interest on the entire amount, with an overdraft, you only pay interest on the amount you actually use. This makes it ideal for managing short-term cash flow needs.
Interest is calculated daily on the outstanding balance of your overdraft. This means you only pay interest on the amount you've actually used, not on the entire approved limit. The interest rate is variable and may change based on market conditions.
Yes, you can repay your overdraft at any time without incurring early repayment penalties. In fact, it's advisable to repay your overdraft as soon as possible to minimize interest charges.
If you attempt to withdraw funds beyond your approved overdraft limit, the transaction will typically be declined. In some cases, the bank may allow the transaction but charge additional fees for exceeding your limit. It's important to monitor your account balance and stay within your approved limit to avoid additional charges.
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Draw funds as needed, up to your approved limit, giving you flexibility to manage your finances.
Pay interest only on the amount you use, not on the entire approved limit, potentially saving you money.
Built-in insurance coverage protects you and your family in case of death, ensuring they won't inherit the debt.
The information provided on this page is for general informational purposes only and is based on our research as of 2025. While we strive to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the information contained on this page. Any reliance you place on such information is therefore strictly at your own risk. Always verify the latest terms, conditions, and interest rates directly with Stanbic Bank before making any financial decisions.
