Apply for an overdraft

Get up to twice your salary or 90% of your fixed deposit in a few simple steps

Get instant cash

An overdraft is a line of credit on your current account that allows you to cover your transactions even when your balance drops to zero or below. It’s instant cash support and can protect you from bounced cheques.

We have two kinds of overdrafts you can choose from:

Overdraft against salary transfer: Get up to twice your monthly salary
Overdraft against a fixed deposit: Get up to 90% of your fixed deposit

Eligibility

You must be a UAE National or resident
You must be at least 21 years old
Your salary must be at least AED 5,000 if your employer is on the bank’s approved list, or at least AED 7,500 if they're not
If you're taking an overdraft against your fixed deposit, you must have at least AED 10,000 in the deposit

Documents required

Your passport
UAE residency visa and Emirates ID with copies
Proof of address such as a utility bill
Your last salary certificate (not needed if your first salary has already been credited to your Emirates NBD account)
Last 3-month bank statement
A security cheque
If you’re self-employed: last 6-month bank statement, trade license, memorandum of association and power of attorney

Fees and charges

A processing fee of AED 210 (Inclusive VAT) applies when you are granted the overdraft
A yearly renewal fee of AED 210 (Inclusive VAT) applies for renewal
Calculate your overdraft interest payments here
If you'd like to explore more options, read about Loan on card

Apply now

Choose one of the ways below to apply now:

How long it will take

Your application will be processed within 3 working days. Once it’s approved, the amount will be made available in your account and can be used via debit card, cheques, online transfers or standing instruction payments.

FAQs

What is the minimum salary to apply for an overdraft?

You need a monthly salary of at least AED 5,000 if your company is on the bank’s approved list, or AED 7,500 if it’s not. To know if your company is on our approved list, please call us on +971 600 54 0000.

For how long will my overdraft be active?

An overdraft is assigned for 12 months and needs to be renewed before expiry.

How will I access the funds once my overdraft is approved?

The amount will be made available in your account. It can be withdrawn from an ATM, via debit card, used for purchases and online transfers or as cheques.

How can I cancel my overdraft facility?

Come to your nearest Emirates NBD branch and we‘ll help. Once your request is placed, your overdraft will be cancelled in 48 hours.

What is the maximum amount I can get as an overdraft?

The maximum amount you can get as an overdraft is based on your salary, your length of service and whether your company is listed with the bank. If you have a fixed deposit, you can get up to 90% of your fixed deposit under lien with Emirates NBD.

How do I pay back by overdraft?

Once you deposit some cash or your salary is credited to your account, it will be considered as payment against your overdraft. If you have taken Flexi Cash, then your outstanding amount will be taken from your salary on your due date.

How is the interest on an overdraft calculated?

With an overdraft, you will be charged interest only for the amount used and the number of days you take it for. If you don’t use it at all, you won’t be charged.

For example, if your overdraft limit is AED 10,000 and you have used only AED 1,000 for 7 days, at the rate of 18% p.a. or 1.5% per month, you’ll be charged approximately AED 3.45 as interest for that month (AED 1,000 x 18% / 365 days x 7 days).

What is the difference between a conventional overdraft and Flexi Cash?

With a conventional overdraft, your utilised overdraft limit gets replenished automatically once the funds are transferred to your current account. Flexi Cash, on the other hand, is similar to a credit card loan, where you can opt to pay a minimum amount on the utilised amount from 20% to 100%.

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