At a glance

Draw funds up to your approved limit anytime
Prevent the cost of dishonor fees or declined transactions
Pay off your loan sooner with unlimited repayments

Why choose our Personal Overdraft?

Be prepared for anything life throws at you with our personal overdraft facility, giving you access to short term funds when you need it. Whether you need to manage your cashflow, cover unexpected expenses, or you just want some peace of mind, a personal overdraft will help you navigate life’s up and downs.

Links to your account

Links to your Day2Day Plus Account or Reverse Charges Account® for easy management.

Interest on used funds only

Only pay interest on the overdraft amount you use

No minimum repayment

Pay any amount, so long as the balance stays within the credit limit

Secured or Unsecured Overdraft?


Secured Overdraft

A secured overdraft is where residential security is provided against your overdraft account, to lock in lower interest rates on your overdraft.

Unsecured Overdraft

An unsecured overdraft does not require security, but is subject to higher interest rates and stricter lending limits.

Chat to a BOQ loan specialist to discuss whether a secured or unsecured overdraft account better suits your needs.

Borrowing amounts

  Unsecured Personal Overdraft Secured Personal Overdraft Residential Security
Minimum Amount $3,000 $5,000
Maximum Amount $40,000 $50,000

Interest rates

Personal Overdraft Interest Rates


Interest rate % p.a.

Comparison rate % p.a. **

Mortgage Secured






To obtain the mortgage secured interest rate, residential security must be provided against your personal overdraft facility. Need something longer term? Check out our Clear Path Line of Credit Facility.


At BOQ, we keep our fees to a minimum. Any fees we do have we’ll show you up front so there are no surprises.

Applicable Fees Fee Term
Application fee
  • Secured overdrafts - $495
  • Unsecured overdrafts - $150
Agreed Credit Advance Fee
  • Charged quarterly on the last day of February, May, August and November
  • 0.25% of approved overdraft limit
Account operating fees and charges
  • Can be linked to either a Day2Day Plus AccountTM or a Reverse Charges Account®, both of which have their own fees and charges.

A full list of fees can be found in our Fees and Charges Guide.

Important information

For important information on our Personal Overdraft, view our Terms and Conditions.

Ready to apply?

Follow these steps to begin your Personal Overdraft application.

Step 1.

Check your eligibility. You must:

  • Be 18 years of age or older
  • Apply for a loan of $3,000 or more
  • Have never been bankrupt
  • Be an Australian citizen or permanent resident
  • Earn a regular income

Have the following information ready:

  • Proof of identity
  • Employment details
  • Financial details such as income, assets, expenses and liabilities

We can also help with:

Day2Day Plus Account
Monthly admin fee

Our award winning, no fee bank account

Day2Day Plus Account

The Day2Day Plus Account is the everyday bank account that frees you to live the way you want, each and every day.

  • Easily manage your daily transactions and bills through internet banking
  • Unlimited deposits, withdrawals, BOQ balance enquiries, funds transfer and BPAY transactions
  • Contactless payments and secure online purchases through Visa Debit