ATM loans (Recurring advance deposit): This is an electronic service allowing customers to apply for small loans and receive immediate payouts at an ATM. The amount ranges depending on your credit profile and is payable on your payday.
It is a South African first. Currently FNB and ABSA offer the service where a customer can check to whether he or she qualifies and withdraw the amount, all from the ATM.
It is more like an overdraft facility where the amount is offset against the next deposit.Should you repay the total loan, or outstanding balance within 31 days, you don’t pay any interest.You can use the funds for just about anything from covering unforeseen emergencies, to school fees, to home improvement.
For More information on FNB Temporary ATM Loan contact tel 0860 327 827