Salary Overdraft Nigeria from Standard Chartered with ₦1.8m Revolving Limit and Flexible Interest
Salary overdraft in Nigeria from Standard Chartered gives salary account holders a revolving ₦1.8m limit with flexible interest charged only on the funds you use
Why choose Salary Overdraft Nigeria from Standard Chartered
Salary Overdraft Nigeria from Standard Chartered is built for working professionals who need quick access to cash without the hassle of a full loan application. With a product tailored to local payroll habits and the Nigerian banking environment, it blends convenience with predictable costs so you can cover urgent bills and short-term gaps.
This overdraft links directly to your salary account, so you get a revolving safety net that refreshes as you are paid each month. For folks in Lagos, Abuja or Port Harcourt this means you can handle unexpected expenses without queuing for long credit approvals.
How the ₦1.8m revolving limit and flexible interest work
The facility offers a revolving limit up to ₦1.8m depending on your net monthly salary and credit profile, and interest is charged only on the amount you use. That makes the salary overdraft cost-efficient compared with taking a lump-sum personal loan for short-term needs.
Interest is computed on utilized balance so you avoid paying for unused credit, and repayments happen automatically when your salary lands in the account. This behaviour fits common Nigerian payroll cycles and keeps your finances organised without extra manual steps.
Eligibility, fees and quick application
To qualify you need a Standard Chartered salary account, a good credit bureau record, a BVN and a minimum monthly salary as set by the bank, typically starting from around ₦50,000. The application is simple and often approved fast, with status updates within 24 hours so you won’t be left waiting.
Fees are transparent: a monthly interest on utilized funds and clear late payment terms if salary is delayed beyond the grace period. Knowing these charges up front helps you plan repayment and avoid surprises that can dent your credit standing in Nigeria.
Managing, repaying and everyday benefits
Repayment is automatic from your payroll, which means one less thing to track every month and a reduced risk of missed payments. You can access funds via ATM, POS or online transfer, just like any other naira balance in your salary account.
Beyond bridging shortfalls, this overdraft from Standard Chartered gives you financial peace of mind and flexibility for emergencies, travel, medical bills or urgent household repairs. If you want predictable, on-demand credit tied to your salary, this overdraft facility is one of the practical options in Nigeria’s market.
