SALARY BASED OVERDRAFTS
Individual Account holders with existing loans can also access the POSB Salary Based Overdraft facility.
Overdraft Application Requirements
- Original Identity Document such as National ID, Passport, or Driver’s License and a clear photocopy of the same.
- Current proof of residence.
- Applicants must receive their salary through their Individual accounts for at least 3 months.
- Proof of permanent employment.
- Applicant must meet the minimum net salary requirement.
- Original and clear copy of current payslip.
Benefits
- Low interest rate.
- Favorable repayment terms.
- Direct deduction from salary.
- Higher affordability
- Shorter turnaround time for processing loan applications.
