ANZ Cook Islands - Overdrafts


	Cook Islands

	Domestic Banking: Products and Services

		Access Accounts and Access cards

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		Overdrafts

		Personal Loan

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Branches

Overdrafts

This is a simple form of lending with no fixed repayment arrangement allowing you to overdraw your cheque (current) account up to an approved limit.

Features

The balance should be maintained within the overdraft limit approved
Security may be required on the limit requested
Limits are reviewed annually pending the business�s financial and statements of position for the business and personal account holders
Interest is calculated on the daily balance of the overdrawn amount and charged on a monthly basis
An initial limit approval fee is applicable upon acceptance of the overdraft terms and conditions
A Line fee for the approved overdraft is charged monthly
Excess fees and penalty interest will apply if the approved overdraft limit is exceeded without arrangement

Benefits

No minimum monthly payments required
Can be used to cover for shortfalls in cash flow
Provides woking capital flexibility for the daily operating needs of business clients

Would you like more details?

Phone Phone: +682 21750
Fax Fax: +682 21760
Email Email: anzcooks@anz.com