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Secured Overdraft

We offer overdraft facilities against term deposits to cater to your short-term cash flow requirements. With a secured overdraft line from SBI, you can maintain your existing term deposit until maturity without having to worry about cash flow for your short-term financial needs.

Secured Overdraft

  • Available in SGD or USD
  • Same & Alternate currency financing available
  • Maximum tenor: until maturity of the term deposit pledged as security
  • Attractive interest rates – applied daily only on amounts utilized
  • ATM Cards provided (only for SGD accounts)
  • Terms and conditions apply.
  • Singaporeans, PRs and foreigners of age ≥ 21 years
  • Overdraft facilities granted to 1st party only
  • Acceptable security: SGD/USD term deposits with minimum tenor of 3 months
  • No processing fees
  • Default fee: 2% above overdraft interest rate (min. S$20) on all amounts in excess of approved limit

Documents to be submitted along with the application form (originals to be produced for face to face verification)

  • Application form
  • Demand Promissory note
  • Deed of Security over deposit(s)
  • Letter of approval accepted by borrower(s)

Approval of this application is at the bank’s discretion.

Walk in to any of our branches to talk to our relationship managers.