Approved for overdraft $1,00,000,000

There is no such thing as free money  and when banks offer it to you , you should be even more careful. Today i got a  offer from a bank  for a Overdraft facility of $10,000 and i was already pre-approved “WOW”.

FREE overdraft Facility

NO charges etc , No establishment fees .. what they didn't say in the email is what they charge when the overdraft is overdue . They probably will say all that when  you fill in  the form , but by that time you have already made up your mind  to get an ovedraft

Bugatti-Veyron_overdraft facility australia US

 

Below I've printed in italic what you should be aware of when signing up for a overdraft

You have been conditionally approved for a $1000 Personal Overdraft facility on your existing account, subject to some simple checks.^

A Personal Overdraft can be helpful if your account ever falls short of funds, because it could give you access to an additional $1000…………...( and put you further into debt  and we will charge you exorbitant rates for paying us back those overdraft amounts ) 

This can also be very handy, especially during the festive season when it's nice to have a little extra cash. ( with the ultimate cash being in our pockets ,otherwise why would we offer you this)

You'll find you could save on overdrawing and dishonour fees, and reduce the inconvenience of declined transactions. ( yes , but then  we would also charge you high rates  while you are behind on your overdraft .. with you possibly paying us more in the bargain)

Here's what you can look forward to with a Personal Overdraft:

  • No establishment fee
  • No monthly interest charges or fees if you don't use your Overdraft ( if you use , you could be paying high interest repayment fees if you dont pay by the due date)
  • Immediate access to funds once you’ve accepted your offer

This opportunity is available until XX Dec 2013. To apply or read more, click the 'Apply Now' button.

Comments

Post a Comment

Popular posts from this blog

Debt - The Bible , Quotes and Sayings

Image
Bible Verses about Paying Debt Romans 13:7-8  Pay to all what is owed to them: Taxes to whom taxes are owed, Revenue to whom revenue is owed, Respect to whom respect is owed, Honor to whom honor is owed. Owe no one anything, except to love each other, for the one who loves another has fulfilled the law. Proverbs 22:7   The rich rules over the poor and the borrower is the slave of the lender. Psalm 37:21   The wicked borrows but does not pay back , but the righteous is generous and gives QUOTES ON DEBT Debt is the slavery of the free / Publilius Syrus Debt is like any other trap, easy enough to get into, but hard enough to get out of / Henry Wheeler Shaw If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours / John Maynard Keynes Many delight more in giving of presents than in paying their debts / Sir Philip Sidney Debt is the worst poverty / Thomas Fuller Sayin...
Read more

Can you repay your home loan at the “buffer” rate and save

Image
In Australia, households often choose to pay down their mortgage more quickly than required. Various data sources suggest that around half of borrowers are ahead of schedule on their mortgage. In this way, many households have a buffer that they could temporarily draw on to stay current on their loan repayments if their incomes were to fall. Mortgage holders could save hundreds of thousands of dollars in home loan interest if they made repayments at their bank’s “buffer” rate, according to Mortgage Advisers. When a lender determines whether a borrower can afford a loan , they do so by adding an interest rate buffer of around 2% p.a. to the current home loan rate. In other words, if the current interest rate is 5.25% p.a. they will assess the ability to repay the loan at 7.25% p.a. Households have now built up a significant buffer against future interest rate rises, figures from the Bureau of Statistics and Reserve Bank show. A debt reduction strategy simply requires you to make ...
Read more