What is Bendigo Bank's policy on overdrafts?

Bendigo Bank provides customers with the option of an overdraft facility on their transaction accounts. The bank's policy on overdrafts is to offer a flexible and responsible service that is tailored to each individual's financial circumstances. The bank assesses the applicant's eligibility and creditworthiness before determining the overdraft limit. The interest is charged only on the drawn amount, allowing customers to manage their cash flow effectively. Bendigo Bank promotes responsible borrowing, and customers are provided with guidance to ensure they understand the terms and conditions associated with the overdraft facility. The bank encourages open communication with customers regarding their financial situation to provide suitable solutions. Overall, Bendigo Bank's policy on overdrafts aims to provide accessible and customizable options while ensuring financial stability for the customer.