Accessing extra funds
I need to access extra cash
There are a whole lot of reasons why you might need extra cash and there are lots of ways to handle this situation. The trick is to choose the most cost effective option. Think about how much cash you’ll need and how soon you’ll be able to repay what you borrow, and then look at the interest rates and fees associated with each option.
Credit cards
An easy option might be to cover your shortfall by using your credit card. This can be cost effective if you’re going to make the repayment quickly, but if not, you might want to consider other options.
Overdrafts
Alternatively, consider adding an overdraft facility to your account - you’ll find the interest rate is typically lower than on your credit card.
If you need extra cash for a short period only, a Temporary Overdraft lets you borrow for up to 45 days. Or if you want to have an ongoing buffer on your account, a Personal Overdraft acts as a line of credit to help you cover the unexpected.
Debt consolidation
If you have existing credit cards, store cards, or loans, you may be able to combine them under a personal loan. This will give you the certainty of a low fixed interest rate. And save the hassle of making multiple payments.
Or, if you have a home loan with us, you may be able to increase it to cover these debts. This way, because the home loan rate is lower than the interest rate on your personal loan or credit card, you’ll pay much less interest and pay those debts off much quicker.
Review your options:
