An instant short-term loan when you need it.

No paperwork, no embarrassment, just 0.3% daily interest.Kuda Overdrafts are short-term loans you can take anytime as long as you use your Kuda account regularly.

How overdrafts work

Sign up on Kuda and upgrade your account with your BVN (Bank Verification Number) and a valid ID.

Use your account regularly - buy airtime, pay bills, make transfers etc.

We’ll automatically offer you an overdraft!

How to borrow

Overdraft FAQs

You have requested Kuda Microfinance Bank Limited (“Kuda”) to provide you with an overdraft facility (the “Overdraft Facility”) on your Kuda account (“Account”). This Overdraft Facility is linked to your Account and will allow you withdraw money in excess of your available balance, up to a stipulated limit. This offer letter, therefore, sets out the key information regarding your request for the Overdraft Facility and the terms and conditions on which we grant you the Overdraft Facility (the “Offer Letter”).
This Offer Letter and its terms and conditions will apply, in addition to your Account’s terms and conditions, when you accept this Overdraft Facility. We ask that you please read and consider this document in its entirety before deciding whether to accept the offer to provide you with this Overdraft Facility.FACILITY TYPE: Overdraft
TENOR: 90 days
DISBURSEMENT DATE: The date on which the Facility Amount is credited into the Borrower’s account
MODE OF DISBURSEMENT: Bank Transfer to Borrower
MATURITY DATE: 30 days from the Disbursement Date
INTEREST RATE: 0.3% of the Overdraft Facility Amount accruing on a daily basis until fully repaid.

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