How do South African bank charge overdraft?

South African banks typically charge overdraft fees based on the amount overdrawn and the duration of the overdraft. These fees can include a monthly service fee, interest charges on the overdrawn amount, and potentially additional transaction fees. Interest rates for overdrafts can vary by bank and are usually higher than standard loan rates, reflecting the risk involved. Customers are advised to review their bank's specific policies and terms regarding overdraft charges to understand the potential costs.