With Kuda Bank overdraft, you can take quick short-term loans online without filling any form, doing paperwork etc. And you can pay back anytime you want with only 0.3% Daily Interest.
According to Kuda Bank, the Overdraft is a short-term cover to help you keep your life running smoothly. If your Spend account balance is ever too low for comfort, you can always take some money from your Borrow account to cover your expenses and pay back whenever you get paid.
However, getting a Kuda Bank overdraft is as simple as checking your borrow account for eligibility, typing the amount you need, confirming the transaction and start spending as you will be credited instantly.
Peradventure you do not spend the amount borrowed or only spend a part of it, Kuda Bank will move the money back into your Borrow account.
How To Apply For Kuda Bank Overdraft
- Open Kuda and tap or swipe to your Borrow account.
- Tap Borrow.
- Tap Get Your Overdraft.
- Tap Next.
- Type in the amount you want to borrow then tap Done.
- Confirm with your transaction PIN, fingerprint or Face ID.
- Tap Okay and you can spend from your account.
Now let us move to the repayment part: To pay back your loan is also as simple as being charged from your spend account automatically. Kuda Bank noted that if you don’t have enough money in your Spend account to repay the entire overdraft when it’s due, repayment will be made in bits every time money is added to your account until everything you owe has been settled.
