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Personal Overdraft

(Product not available for sale after 4 July 2021)

(We’re intending to decommission this product by the end of June 2025)

Your personal line of credit

Personal Overdraft is a credit facility that can be a feature of selected ANZ everyday accounts. It gives you the convenience of extra cash, with the flexibility to pay for anything from unexpected bills to large purchases whenever you like.

 

Overdraft features

Links to your ANZ everyday account.

Personal Overdraft could be added as a feature to these ANZ everyday accounts: ANZ Access Advantage, ANZ One and ANZ Premium Cash Management.

Only pay interest on what you use

You’ll have easy access to the money, but you won’t pay any interest charges on any credit you don’t use.disclaimer

No fixed repayments

With a Personal Overdraft, you can use and repay funds as it suits you — you’re in control.

It’s easy to access

Simply access funds in the same way as you normally bank, including the ANZ Appdisclaimer, ANZ ATMs, EFTPOS and Internet Banking, or at any ANZ Branch.

Rates and fees

rates and fees

The variable interest rate

 disclaimer

Approval fee

Credit Facility Fee for Personal Overdraft

Credit limit: Under $20,000

 $100

Credit limit: $20,000-$49,999

 $200

Credit limit: $50,000 and over

 $500
rates and fees

Credit limit

 $1,000 minimum

Credit facility fee (advised on applicationdisclaimer)

credit facility fee for Personal Overdraft

Credit limit: Less than $20,000

 $200 p.a.

Credit limit: $20,000 or more

 1.7% of the limit p.a.

Closing your overdraft facility

If you'd like to close your overdraft facility, you must first clear any outstanding amount owing on your account. You can then request to close the facility in the following ways:

  • Calling ANZ on 1800 072 250 between 9.00am and 7.00pm (AEST) Monday to Friday
  • Faxing a letter to ANZ on detailing the request
  • Visiting your nearest ANZ branch

Please note, where your facility is held in joint names, we will need authority from all account holders.

For more information about your account, please refer to the ANZ Assured and Personal Overdraft Terms and Conditions (PDF).

Your questions answered

The Personal Overdraft product has not been available for sale since 4 July 2021.

As part of our work to simplify products and services, we’re intending to close the product by the end of June 2025 or sooner for customers who have paid off their balance.

All existing customers with a Personal Overdraft facility can continue to use their product until end of June 2025. However, if their credit balance is zero and there has been no outstanding balance on their overdraft for a period of 30 consecutive calendar days, we will close the overdraft at or after that time.

Existing customers will not be able to increase their credit limit, but can decrease their credit limit.

No, after 4 July 2021, Personal Overdrafts cannot be transferred to any other Everyday bank account.

No, from 4 July 2021, it is not possible to reinstate a Personal Overdraft that has been closed.

We are constantly reviewing our product lines, to keep enhancing the products and services we offer. As Personal Overdraft is an older product which was discontinued in 2021, ANZ has made the decision to stop supporting it moving forward. This is so that we can continue to better focus on supporting our current products and improving customer experience.

Important information

All applications for credit are subject to ANZ’s credit assessment criteria. Terms and conditions are available on application. Fees and charges apply. Australian credit licence number 234527.

Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. ANZ recommends you read the ANZ Assured and Personal Overdraft Terms and Conditions (PDF 131kB), ANZ Personal Banking Account Fees and Charges (PDF 175kB) and the Financial Services Guide (PDF 104kB) which are available at anz.com or by calling 13 13 14, before deciding whether to acquire, or continue to hold, the product. Fees, charges and eligibility criteria apply.

Apple, the Apple logo, iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Android, Google Play and the Google Play logo are trademarks of Google Inc.

The interest rate applicable as at  is  but is variable and may change.

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The ANZ App is provided by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. Super and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. This information is general in nature only and does not take into account your personal objectives, financial situation or needs. ANZ recommends that you read the ANZ App Terms and Conditions available here for iOS (PDF) and here for Android (PDF) and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

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The Credit Facility Fee is debited to your account in arrears on a monthly, quarterly or annual basis (as applicable) from the date on which your account was opened. The fee is calculated by dividing the annual Credit Facility Fee by 366, then multiplying that figure by the number of days the facility is in effect for that relevant cycle.

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