How To Get Kuda Bank Overdraft Loan

A Step-by-Step Guide to Obtaining Kuda Bank Overdraft Loans

Kuda Bank is a Central Bank of Nigeria licensed microfinance bank offering online-only services with no physical branches.

In this article, we will guide you through the process of accessing a Kuda Bank Overdraft Loan, designed to help you manage short-term financial needs.


Kuda Overdrafts: Gaining Popularity

Kuda Bank has been making waves on social media, with over 48,000 people discussing their overdraft pilot program.

Recently, 50,000 additional users were added to the program, with plans to include another 50,000 next week.

As a result, Kuda Bank has quickly become known for providing fast and convenient loans.

Understanding Kuda Bank Overdrafts:

According to Kuda Bank, an overdraft is a short-term financial cushion that helps maintain stability in your financial life.

If your Spend account balance becomes too low, you can borrow money from your Borrow account to cover your expenses, repaying the loan when you receive your next paycheck.

Applying for a Kuda Bank Overdraft Loan:

To apply for a Kuda Bank overdraft loan, follow these simple steps:

  • Download and install the Kuda Bank app from the Google Play Store or Apple App Store.
  • Sign up for a Kuda Bank account.
  • Access your Borrow account by tapping or swiping.
  • Click on the “Borrow” button.
  • Use the “Get Your Overdraft” button to initiate the process.
  • Click “Next” and enter the desired loan amount.
  • Confirm the transaction using your transaction PIN, fingerprint, or Face ID.
  • Upon approval, the funds will be available in your account for immediate use.

Repaying a Kuda Bank Overdraft Loan:

Repaying an overdraft loan is straightforward, as your Spend account will be automatically debited when repayment is due.

If your account lacks sufficient funds to cover the full repayment, Kuda Bank will deduct partial payments as funds become available until the loan is fully repaid.

About Kuda Bank:

Kuda is a full-service, digital-only bank with headquarters in London and offices in Lagos.

It offers comprehensive banking services through mobile apps, making it easy for Nigerians with internet access to manage their finances without incurring traditional bank fees.

Kuda Bank’s Unique Offerings:

In addition to overdraft loans, Kuda Bank offers a range of credit products accessible through the app, setting it apart from digital wallet services.

Customers can also receive free debit cards, which are shipped without any fees.


Kuda Bank’s overdraft loans provide a convenient and accessible solution for managing short-term financial needs.

By following the steps outlined in this guide, you can quickly and easily obtain an overdraft loan and keep your financial life running smoothly.

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