One click for overdraft, money is in your hand!
Aiming as bringing more flexibility to customers, SHB Online Overdraft Loan product is a “savior” for customers’ spending when salary/ income date is not yet to come.
Online overdraft loan is an unsecured loan product that is totally applicable on SHB’s digital platform. Customers can perform overdraft operations in no time with the SHB Mobile application.
Frequently asked questions
| No | Question | Answer |
| 1 | How can I apply for SHB’s online overdraft | You can choose the feature that allows you to receive notifications from the SHB App on your mobile phone.
In case you are eligible for an Online overdraft, you will receive an invitation to open an overdraft account via the following channels: Push notification on SHB Mobile app (You may review it in the “Notification” button (bell shape) on the App”) Go to Left Menu/Online Loan/Receive invitation/ “Apply for loan” Button on the Overdraft details screen when accessing the left menu/Online loan After successfully opening, you can see the overdraft loan in the left Menu/Online loan section |
| 2 | How can I use my overdraft limit after opening it? | You can use your overdraft account to transfer money. You may access the SHB Mobile app, go to the money transfer feature/select the source account as the overdraft account and perform the transfer transaction.
Note: You are not allowed to withdraw cash from an overdraft account. Do not use an overdraft account to pay off loan/credit card balance Transfer money to yourself at SHB up to VND 100 million/transaction. |
| 3 | What is the Overdraft Account available limit? | Is the maximum amount that the Customer may use from the overdraft account.
When the customer repays the principal, the available limit will increase accordingly, and you can spend within the remaining available limit. |
| 4 | When using an overdraft, what kind of fee do I have to pay? | You do not pay any fees when opening and using an overdraft.
When using an overdraft, interest will be calculated based on the actual outstanding balance and the number of days the outstanding balance is maintained. You can use the “Interest Statement” feature to query interest arising according to daily outstanding balance. |
| 5 | When is overdraft interest payable? In what form? | You will have to pay overdraft interest if there is an outstanding balance during the month.
The system will automatically collect overdue loan interest from your account registered as a loan collection account. Before 5:00 p.m. on the last day of the month, you need to maintain a sufficient balance amount on the account registered as a loan collection account for SHB to automatically collect interest. |
| 6 | How do I repay the principal? | You can pay off the principal at any time by transferring money to your overdraft account.
The overdraft principal balance will be automatically collected by the system as soon as the money is transfered to the overdraft account. By the overdraft expiration date, you need to fully pay the entire principal and interest balance. |
| 7 | When the principal and interest on an overdraft loan are overdue, what should I do? | When the loan is overdue, the system will automatically collect loan from all Customer’s payment accounts. Please do not let overdue situations occur that affect your credit profile. |
Benefit
Customers can easily and quickly transfer money from overdraft account to another account on SHB Mobile app with several outstanding benefits:
Features
Subject and requirements
Target Customers: Customers with SHB Mobile Banking app and have an account at SHB.
Eligibility for Overdraft: Satisfy SHB regulations from time to time. Currently SHB extends online overdraft to the following customers:
Procedures
Conditions and terms of overdraft loans available here!