Personal Banking
Overdraft Protection
A Simple Way to Get Peace of Mind!
Overdraft Protection Credit Line
NJM Bank offers checking account holders the opportunity to obtain an Overdraft Protection Credit Line to cover overdrafts, up to your available credit line. A credit limit can be established for as little as $500 or as much as $5,000.
Overdraft Protection gives you peace of mind in case you accidentally exceed your checking account balance. No more bounced checks - whenever you write a check that exceeds your account balance, NJM Bank will automatically transfer the appropriate loan amount (in multiples of $50) to your checking account and then automatically start your monthly repayment plan directly from the same account. Each payment will be $25, or 1/36th of your outstanding balance, plus finance charges, whichever is greater. The interest rate is 15.50% APR* - less than most credit card rates!
* Annual Percentage Rate and other terms are subject to change.
There is no fee for this service - just the monthly payment whenever you actually borrow money.
Apply now online for an Overdraft Protection Credit Line today!
Call one of our loan representatives at 1-877-NJM-BANK (1-877-656-2265), Extension 3737 for additional details.
Overdraft Protection "Sweep"
NJM Bank also offers Overdraft Protection in the form of a "Sweep" account, which taps into your eligible NJM Bank savings account to cover an inadvertent overdraft in your checking account if needed. (A nominal fee1 per daily transfer applies.)
To arrange for this service, please Contact Us or call toll-free at 1-877-NJM-BANK (1-877-656-2265) to speak to a Customer Service Representative.
1 There is no fee for overdraft protection sweep transactions for our Stewardship Banking customers.
