FNB overdraft cost

[alkit]

Just enquired today regarding an overdraft on my FNB business account.
I was informed that I just need to pay a small facility fee when the overdraft is utilised.
Unlike a loan however, there are no interest charges on an overdraft.
Is this correct or did I misunderstand?
Thanks

 

[AchmatK]

Just enquired today regarding an overdraft on my FNB business account.

I was informed that I just need to pay a small facility fee when the overdraft is utilised.

Unlike a loan however, there are no interest charges on an overdraft.

Is this correct or did I misunderstand?

Thanks

No interest if the overdraft is not utilised. Interest will be charged from the day you make use of it.

 

[Charlie600]

And the interest is normally quite high as well...