Find the right overdraft limit for you

Choosing the right limit can help you save on interest, reduce your debt faster, and keep your finances on track. 

Working out the right overdraft limit for you 

Choosing the right limit can help you:

  • Save money on interest costs
  • Get rid of your debt faster
  • Keep your finances on track.

 So it’s worth taking the time to consider what you spend, and why you spend. 

Your budget

No matter where your finances are at, a budget is your most important financial tool. A budget helps you work out how much money you have left after paying essential expenses. Review your budget to see how much you can afford to put towards overdraft repayments. Aim to pay your overdraft balance in full as often as possible.

Don’t have a budget? Our free budget builder can help you create one. 

Your financial wellbeing score 

Are you a saver or a spender? How disciplined are you? If you tend to make impulse purchases, reducing your overdraft limit can help you avoid temptation.

Our financial wellbeing tool can help you understand your approach to money.

Signs your overdraft limit might be too high

Even the most disciplined of us have probably said “I’ll just dip into my overdraft” at some point. It can be comforting to have access to an overdraft, just in case. But having a higher overdraft limit than you need can end up costing you.

Here are some signs you may want a lower overdraft limit:

  • Your overdraft limit is more than your monthly income
  • You find it hard to resist impulse buys – especially if it’s something you can’t really afford
  • You struggle to keep on top of your budget
  •  You find it hard to meet your savings goal 
  • Your circumstances have changed, e.g. rent increase or job loss. 

Reducing your overdraft limit

If you want to reduce your overdraft limit, call us on 0800 269 296, or visit one of our branches with photo ID.

Your overdraft limit isn’t set in stone. It’s a good idea to review it regularly to see if it’s higher than you really need. 

Important information

Eligibility, lending criteria, terms, conditions and fees apply. Details are subject to change.

Fees and interest rates are subject to change. Non-standard fees may apply. Please use the following links for full details of our Terms and ConditionsFees and Charges (PDF 166KB)Rates, fees and agreementsANZ EFTPOS Card and ANZ Visa Debit Card Conditions of Use (PDF 103KB), and ANZ Electronic Banking Conditions (PDF 138KB).

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 269 296, or for more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see