Best Banks for Overdraft Facilities in Nigeria

Imagine standing at the ATM on a rainy Tuesday evening, clutching your card, only to see that dreaded “Insufficient Funds” message. Maybe your salary is just a few days away, or you need urgent cash for something that can’t wait. We’ve all been there. What if you could borrow money instantly—without filling forms, begging your bank manager, or pledging your grandmother’s land documents? That’s where overdraft facilities come in.

If you’ve never paid attention to the concept of an overdraft, you’re likely leaving a lifeline unused. And if you’re already using one, the question is: are you with the right bank? Some Nigerian banks are stingy with their overdraft offers. Others are more generous, fast, and friendly in their approach. In this article, we’ll run through the best banks offering overdraft services in Nigeria—those that actually make sense for the average Nigerian who doesn’t want to get stuck when cash runs dry.

What Is an Overdraft?

Before we get into the list, here’s a quick refresh. An overdraft is when your bank allows you to spend more money than you have in your account, up to a set limit. Think of it as a short-term loan that kicks in automatically. You’re expected to repay it within an agreed time—usually when your salary or any inflow hits the account.

Overdrafts can come in different forms: some are tied to your salary account, while others are available through loan apps or bank apps with a few taps on your phone.

Now, let’s get into the banks that actually deliver when it comes to overdrafts.

1. Access Bank – Salary Advance and PayDay Loan

Access Bank is one of the go-to banks in Nigeria when you need quick cash through an overdraft. Their Salary Advance and PayDay Loan are popular options for salary earners.

Why people like it:

• You can borrow up to 75% of your monthly salary.
• It’s available to both account holders and non-account holders.
• The money is disbursed almost instantly via QuickBucks app or USSD (*901#).
• No paperwork or collateral needed.

Things to note:

• You must be earning at least N50,000 monthly.
• Interest rates and fees apply, so read the terms.

If your salary comes in regularly and you need access to emergency funds without stress, Access Bank has proven itself to be one of the fastest in processing salary-linked overdrafts.

2. GTBank – QuickCredit Overdraft

GTBank may have its issues with long queues and app glitches, but when it comes to overdrafts, they keep things simple and quick.

Highlights of QuickCredit:

• You can borrow up to N5 million, depending on your income.
• The money drops almost instantly into your account.
• Interest is calculated daily, which means you can repay quickly and avoid heavy charges.
• No collateral or paperwork.

Who is eligible?

• Salary earners and self-employed customers with consistent inflows.
• You must have an active GTBank account.

One thing users love about GTBank’s overdraft is the flexibility. You can repay anytime, and there’s no penalty for early repayment. If you’re someone who receives money from different sources and needs a back-up plan, GTBank could be a solid choice.

3. Zenith Bank – Salary Advance Overdraft

Zenith Bank isn’t exactly known for aggressive marketing when it comes to personal loans or overdrafts, but they’ve quietly built a reputation among salary earners and civil servants.

What you get:

• Up to 60% of your monthly salary as overdraft.
• Accessible through your salary account.
• Short repayment period—usually 30 days.

Perks:

• Fast processing, especially if your salary account is with Zenith.
• No need for physical visits—you can apply through the app or via USSD.

Zenith Bank’s overdraft is better suited for those who get paid consistently and just need a top-up before the month ends. It’s clean, efficient, and has fewer hidden conditions compared to other banks.

4. UBA – Click Credit

UBA may not be every Nigerian’s favorite bank, but their Click Credit overdraft is one of the best-kept secrets out there.

Here’s what makes it stand out:

• It’s available for both government and private sector workers.
• Borrow up to N1 million instantly.
• Application is online and automated.

You can access Click Credit through UBA’s Mobile App or Internet Banking. If your UBA account shows regular salary payments for at least 3 months, you’re already qualified.

Noteworthy point:

• You can reapply for another overdraft as soon as you clear the existing one.

5. Fidelity Bank – FastLoan & Personal Overdraft

Fidelity Bank is one of the more responsive banks when it comes to small personal loans and overdrafts. They offer both FastLoan and Personal Overdraft products that are mobile-friendly.

Why people pick Fidelity:

• Loans are available 24/7 via USSD or mobile app.
• Salary earners can get overdraft limits up to 50% of their monthly salary.
• The bank is known for lower interest rates compared to others.

Fidelity is ideal if you prefer a more human approach. Their customer service tends to be more supportive, and they walk you through the process if you’re new to overdrafts or personal loans.

6. First Bank – FirstAdvance

First Bank of Nigeria, with its traditional style, has moved with the times to offer FirstAdvance—a salary-based overdraft system you can access straight from your phone.

Details:

• Available to salary earners whose account is domiciled with First Bank.
• Get up to 50% of your net monthly salary.
• Quick disbursement via FirstMobile App or USSD.

What’s nice about FirstAdvance is its simplicity. No drama, no documents, no long talk. It’s just straight to the point. If your salary flows through First Bank every month, you’re good to go.

7. Stanbic IBTC – EZ Cash

Stanbic IBTC doesn’t play when it comes to clean digital banking, and their EZ Cash overdraft is another strong option.

Features:

• Borrow up to N5 million instantly.
• Available 24/7 through Mobile App or *USSD (909#).
• Minimum repayment period is 30 days, but it can be extended.

Stanbic tends to target higher-income customers, but even average salary earners can enjoy decent limits. If you already use Stanbic for salary or savings, you may find this a smooth option.

Tips Before You Take an Overdraft

Before jumping in, remember that overdrafts are not free money. Here are a few things to consider:

• Repay as fast as possible: Interest adds up daily. The sooner you repay, the cheaper it is.
• Don’t borrow more than you need: Stick to the exact amount you require to avoid unnecessary interest.
• Check all fees: Some banks charge management fees or VAT in addition to interest.

Final Thoughts

There’s no one-size-fits-all when it comes to overdrafts. The best bank for you depends on your income, how often you get paid, and your comfort level with digital banking. Some banks like GTBank and Access Bank are perfect for fast, no-fuss overdrafts. Others like Zenith and UBA offer structured, reliable options tied to your salary.

If you’re always finding yourself stuck before payday or you just want peace of mind knowing you have a fallback option, now’s a good time to look into what your bank is offering. Or better yet, switch to a bank that doesn’t leave you stranded.

And who knows? That N10k you need for data, fuel, or food might just be one USSD code away.

Let me know if you want a version tailored more for students, business owners, or civil servants.

4o

Best Banks for Overdraft Facilities in Nigeria

Imagine standing at the ATM on a rainy Tuesday evening, clutching your card, only to see that dreaded “Insufficient Funds” message. Maybe your salary is just a few days away, or you need urgent cash for something that can’t wait. We’ve all been there. What if you could borrow money instantly—without filling forms, begging your bank manager, or pledging your grandmother’s land documents?

That’s where overdraft facilities come in.

If you’ve never paid attention to the concept of an overdraft, you’re likely leaving a lifeline unused. And if you’re already using one, the question is: are you with the right bank?

Some Nigerian banks are stingy with their overdraft offers. Others are more generous, fast, and friendly in their approach. In this article, we’ll run through the best banks offering overdraft services in Nigeria—those that actually make sense for the average Nigerian who doesn’t want to get stuck when cash runs dry.

What Is an Overdraft?

Before we get into the list, here’s a quick refresh. An overdraft is when your bank allows you to spend more money than you have in your account, up to a set limit. Think of it as a short-term loan that kicks in automatically. You’re expected to repay it within an agreed time—usually when your salary or any inflow hits the account.

Overdrafts can come in different forms: some are tied to your salary account, while others are available through loan apps or bank apps with a few taps on your phone.

Now, let’s get into the banks that actually deliver when it comes to overdrafts.

1. Access Bank – Salary Advance and PayDay Loan

Access Bank is one of the go-to banks in Nigeria when you need quick cash through an overdraft. Their Salary Advance and PayDay Loan are popular options for salary earners.

Why people like it:

• You can borrow up to 75% of your monthly salary.
• It’s available to both account holders and non-account holders.
• The money is disbursed almost instantly via QuickBucks app or USSD (*901#).
• No paperwork or collateral needed.

Things to note:

• You must be earning at least N50,000 monthly.
• Interest rates and fees apply, so read the terms.

If your salary comes in regularly and you need access to emergency funds without stress, Access Bank has proven itself to be one of the fastest in processing salary-linked overdrafts.

2. GTBank – QuickCredit Overdraft

GTBank may have its issues with long queues and app glitches, but when it comes to overdrafts, they keep things simple and quick.

Highlights of QuickCredit:

• You can borrow up to N5 million, depending on your income.
• The money drops almost instantly into your account.
• Interest is calculated daily, which means you can repay quickly and avoid heavy charges.
• No collateral or paperwork.

Who is eligible?

• Salary earners and self-employed customers with consistent inflows.
• You must have an active GTBank account.

One thing users love about GTBank’s overdraft is the flexibility. You can repay anytime, and there’s no penalty for early repayment. If you’re someone who receives money from different sources and needs a back-up plan, GTBank could be a solid choice.

ALSO READ: Affordable Life Insurance in Nigeria for Low-Income Earners

3. Zenith Bank – Salary Advance Overdraft

Zenith Bank isn’t exactly known for aggressive marketing when it comes to personal loans or overdrafts, but they’ve quietly built a reputation among salary earners and civil servants.

What you get:

• Up to 60% of your monthly salary as overdraft.
• Accessible through your salary account.
• Short repayment period—usually 30 days.

Perks:

• Fast processing, especially if your salary account is with Zenith.
• No need for physical visits—you can apply through the app or via USSD.

Zenith Bank’s overdraft is better suited for those who get paid consistently and just need a top-up before the month ends. It’s clean, efficient, and has fewer hidden conditions compared to other banks.

ALSO READ: Best Life Insurance for High-Income Earners in Nigeria

4. UBA – Click Credit

UBA may not be every Nigerian’s favorite bank, but their Click Credit overdraft is one of the best-kept secrets out there.

Here’s what makes it stand out:

• It’s available for both government and private sector workers.
• Borrow up to N1 million instantly.
• Application is online and automated.

You can access Click Credit through UBA’s Mobile App or Internet Banking. If your UBA account shows regular salary payments for at least 3 months, you’re already qualified.

Noteworthy point:

• You can reapply for another overdraft as soon as you clear the existing one.

5. Fidelity Bank – FastLoan & Personal Overdraft

Fidelity Bank is one of the more responsive banks when it comes to small personal loans and overdrafts. They offer both FastLoan and Personal Overdraft products that are mobile-friendly.

Why people pick Fidelity:

• Loans are available 24/7 via USSD or mobile app.
• Salary earners can get overdraft limits up to 50% of their monthly salary.
• The bank is known for lower interest rates compared to others.

Fidelity is ideal if you prefer a more human approach. Their customer service tends to be more supportive, and they walk you through the process if you’re new to overdrafts or personal loans.

6. First Bank – FirstAdvance

First Bank of Nigeria, with its traditional style, has moved with the times to offer FirstAdvance—a salary-based overdraft system you can access straight from your phone.

Details:

• Available to salary earners whose account is domiciled with First Bank.
• Get up to 50% of your net monthly salary.
• Quick disbursement via FirstMobile App or USSD.

What’s nice about FirstAdvance is its simplicity. No drama, no documents, no long talk. It’s just straight to the point. If your salary flows through First Bank every month, you’re good to go.

ALSO READ: Best Banks Offering Student Loans in Nigeria

7. Stanbic IBTC – EZ Cash

Stanbic IBTC doesn’t play when it comes to clean digital banking, and their EZ Cash overdraft is another strong option.

Features:

• Borrow up to N5 million instantly.
• Available 24/7 through Mobile App or *USSD (909#).
• Minimum repayment period is 30 days, but it can be extended.

Stanbic tends to target higher-income customers, but even average salary earners can enjoy decent limits. If you already use Stanbic for salary or savings, you may find this a smooth option.

Tips Before You Take an Overdraft

Before jumping in, remember that overdrafts are not free money. Here are a few things to consider:

• Repay as fast as possible: Interest adds up daily. The sooner you repay, the cheaper it is.
• Don’t borrow more than you need: Stick to the exact amount you require to avoid unnecessary interest.
• Check all fees: Some banks charge management fees or VAT in addition to interest.

The best bank for you depends on your income, how often you get paid, and your comfort level with digital banking. Some banks like GTBank and Access Bank are perfect for fast, no-fuss overdrafts. Others like Zenith and UBA offer structured, reliable options tied to your salary.

If you’re always finding yourself stuck before payday or you just want peace of mind knowing you have a fallback option, now’s a good time to look into what your bank is offering. Or better yet, switch to a bank that doesn’t leave you stranded.

ALSO READ: Best Savings Accounts for Students in Nigeria