Service Detail: Business Overdrafts
Bank of St. Helena is now able to offer overdrafts but please note that, at present, overdrafts are available to business customers only.
Like a bank loan, an overdraft allows you to borrow money from the bank, within certain tightly controlled limits of both time and value. However, an overdraft is more flexible than a bank loan and, for certain types of business financing, can be considerably cheaper.
Please see our Documents page to download a brief guide to overdrafts and their uses for business financing. It is intended to give businesses some ideas about how projects could be more flexibly financed, using an overdraft as opposed to the more conventional bank loan.
Please read this document carefully. Overdrafts are not for every business or for all borrowing situations.
This guide assumes that the reader understands the basic concept of lending and interest calculation and is familiar with conventional bank loans.
Eligible Accounts
Overdrafts can only be applied to a Current Account.
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