An unsecured overdraft is a short-term borrowing facility which provides you with flexibility in dealing with unforeseen expenses. HSBC’s Unsecured Overdraft facility provides a maximum of 1 month gross income for personal banking customers with a maximum overdraft amount up to EGP 10,000, for Advance customers, up to EGP 40,000. For premier customers up to EGP 80,000. The overdraft period is approved for one year and is renewable.
- Minimum 21 years of age
- Egyptian nationals only
- EGP 3,000 minimum monthly income
- Minimum one year length of service with the current employer
- The customer's employer must be on the Bank's approved employer list
- For Personal Banking customers: Maximum overdraft amount is one month gross income with a maximum of EGP 10,000
- For Advance customers: Maximum overdraft amount is one month gross income, with a maximum of EGP 40,000
- For Premier customers: Maximum overdraft amount is one month gross income, with a maximum of EGP 80,000
- Tenor is one year (can be renewed)
- Valid National Identification Card
- Recent Income/Instalment transfer letter on the Bank's standard format
- Recent telephone, electricity or gas utility bill (maximum 3 months old) with a minimum consumption amount of EGP 9 for electricity, EGP 3 for gas, EGP 36 for telephone bills
What is Unsecured Overdraft?
An overdraft is a short-term borrowing facility which provides you with flexibility in dealing with unforeseen expenses, granted to salaried Personal Banking, Advance and Premier customers who are working in companies approved by the Bank and are regularly transferring salaries to HSBC Bank Egypt.
How is the interest for Unsecured Overdraft calculated?
Interest rate is subject to regular review according to the prevailing interest rates.
What is the unsecured overdraft tenor?
Unsecured overdraft is granted for one year, to be renewed subject to the bank’s Personal Finance Terms & Conditions.
How to apply for a Unsecured Overdraft ?
To apply for unsecured overdraft you can call 25291010, visit your nearest branch or the HSBC website www.hsbc.com.eg.