overdraft problem

timex711

hi, i was just wondering about gettin a overdraft of 300euro to pay for a holiday?

i dont know how to go about setting it up? can i just do it over the phone?

i have a income of on average 400euro a month. so i will be able to pay it back.

the thing im worried about is, sometimes my accoun goes into minus because i sometimes buy things online, i.e currently my accoun is at -46.03. but i get paid next week.

what should i do?
thanks

wardy2

don't think you will get that amount on a overdraft.
i'd got a overdraft with Bank of Ireland of E350 euro and my income was E550 a week ,so i say you will be turn down for it.

Anyway to employ for a loan .just go to you're bank and fill out a form for it,you should get a call back on it..

timex711

but its a one off overdraft im trying to get, i need to pay for a holiday, and as far as i know my account is still a student account

wardy2

its all counts on how much money you earn and how fast you can pay it back ,your better off geting a loan then a overdraft.

finnteme

wardy2 wrote: »

don't think you will get that amount on a overdraft.
i'd got a overdraft with Bank of Ireland of E350 euro and my income was E550 a week ,so i say you will be turn down for it.

Anyway to employ for a loan .just go to you're bank and fill out a form for it,you should get a call back on it..

I applied for an overdraft of 350 eur in BOI, and my weekly net is 450, and got declined..

chris85

Apply for a loan if it is a one off thing. Overdrafts are generally for general use. They get used every month. People use them as a buffer in case something happens they will still have funds for use.

Overdrafts also have a higher interest rate. €400 per month would not be good to show them for an overdraft. A small loan may be best really.

timex711

thanks for the info. on a student account would you be able to get a loan of about 300-400euro. and what would i need to do to apply for a loan, thanks for the help

galwayjohn89

If your a student I'd say you could get an overdraft. I got a €500 one from AIB no questions asked. Upping it to €1500 with my dad as a guarantor next week.

timex711

well as far i know my account is a student account, but i dropped out last year. and if u dont mind me asking what income did you have into your account for that overdraft

galwayjohn89

I had around €300 in the account but no regular income

timex711

i just applyed for a loan of 500euro there online with boi. anyone ever do this?

how did it go?

OldNotWIse

I have been a customer with Permanent TSB for over a year and have my wages paid in every week. I just called to enquire about an OD facility and they said because I earn less than 30k in a year, I am immediately disqualified from applying for any loan products - can this be true? Regardless of credit history or length of time with the bank?? :mad:

wmpdd3

Never heard of that, boi wanted 600 euro maintained bal in current account! Why would i want an over draft then? You can complain to the customer service section.

OldNotWIse

wmpdd3 wrote: »

Never heard of that, boi wanted 600 euro maintained bal in current account! Why would i want an over draft then? You can complain to the customer service section.

Done that, waiting for reply. I know what you're saying about the balance maintained at certain level. My dad always jokes that to obtain a loan you first have to prove you dont need it..

marywary

I think aib do interest free overdraft for students up to €1500, not sure if parent has to guarantee though. Am sure if parent were to guarantee then they'd be no problem with your request though.

murph226

Vuzuggu wrote: »

If your a student I'd say you could get an overdraft. I got a €500 one from AIB no questions asked. Upping it to €1500 with my dad as a guarantor next week.

Did it take long to be approved?

galwayjohn89

It was 2 days.

murph226

Thank you!