Overdraft Checking
A personal unsecured line of credit, available to depositors living or working in NJ, which is made part of their NVE Free Checking Account. It is used both for overdraft protection and as a method of borrowing. Any time the checking account is overdrawn; the line will advance funds in $100 increments to cover the overdraft.

Features:
Overdraft lines of credit are available from $500.00 to $5,000.00. Credit lines are subject to review of the borrower's individual credit and income. Minimum monthly payments including interest are .083% of the balance or $25, whichever is greater. Available balance is included in checking account balances for ATM transactions.

Rates:
Interest is computed at a simple interest rate based on the daily outstanding balance. The current interest rate is 15%. There is no application fee or annual fee.