An overdraft is a fluctuating financing facility linked to a current account, repayable on demand. The customer is entitled to draw on their current account up to an agreed limit.

• The overdraft facility maybe granted for a maximum of twelve months.
• Reductions or repayment terms are to be discussed with the customer. No stipulated minimum applies. The source of repayment should however be clearly defined. Notwithstanding the above the facility is repayable on demand.

• Once arranged the facility is available immediately and may be used whenever required.
• The facility remains available even when not in use.