A little short on a payment? Made a budgeting error this month? Life happens! It can be easy to lose track of account activity when you’re busy. Our Overdraft Protection Loan offers you peace of mind when you need it. Plus, it can save you from unnecessary fees.
Our Overdraft Protection Loan works like a Line of Credit, allowing you to borrow from it when you need to, avoiding declined transactions and returned checks. Funds are automatically transferred to your checking account to cover your transaction(s) when the available balance isn’t sufficient.
Features
- Choose from loan amounts from $750 to $5,000
- Fixed rate loan at 18% Annual Percentage Rate
- Short term, line of credit loan
- No minimum draw amount
- No maximum attempts during the statement cycle
- Applicable to ATM and POS transactions, iBanking transfers, Bill Payments, ACH transactions and presented checks.
*APR: Annual Percentage Rate. Fixed rate of 18% APR. Minimum loan amount of $750 and maximum loan amount of $5,000. Annual fee of $25. There is a 6-month wait period from membership to be eligible. This solution cannot be combined with any other Naveo overdraft products. Applicable to personal checking accounts only. Minimum credit score of 640. Approval requires that you meet our credit criteria and income ratio requirements. Additional terms and conditions may apply. Applicants must meet membership eligibility requirements prior to loan closing.