Suncorp personal overdraft 2025

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Can I apply for a new personal loan with Suncorp Bank? Suncorp Bank has discontinued offering new Personal Loans in order to focus on other product improvements, additions and innovations.
Suncorp Bank has discontinued offering new Personal Loans to focus on other product improvements, additions and innovations.
How do personal overdrafts work? You have $500 in your account and you need to pay for $1,000 of expenses. You pay your expenses using your funds of $500 and $500 of your overdraft. Once you receive $1,000 salary payment, youll have $500 of your own funds left after paying off your $500 overdraft.
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When there is no money in your account, an overdraft allows you to continue to spend up to a certain amount, known as the overdraft limit. You have to pay back what you spend from your overdraft, plus interest. The interest rate on overdrafts is usually higher than on personal loans.
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Some transactions which may cause the account to become overdrawn include fees and other transactions that occur when Suncorp Bank is processing offline. If your account becomes overdrawn and has a negative balance we will not charge overdrawn fees or interest on the Everyday Essentials or Carbon Insights Account.

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