From crisis to opportunity cost - our flexible credit can help!

The new year is a good time to reflect on where you are in life. Wherever that is, our banking products are thoughtfully designed to fit into your needs, hopes and lifestyle. Explore credit options for yourself and see how they might provide you with the funds you need to thrive in 2024. We offer options: the Revolving Credit Facility and the Single Credit Facility - which includes your credit cards and overdraft facility.

1. The Revolving Credit Facility: your new flexible credit solution

Our Revolving Credit Facility is a revolutionary way to access credit that lets you unlock new opportunities and solve problems fast - be it securing solar solutions or funding car repairs. What sets the Revolving Credit Facility apart?

• Quick access: Apply in less than five minutes through the Discovery Bank app, and once approved, the funds are immediately available in your facility.
• No term limit: Enjoy the freedom to access and repay money on your terms, with no fixed term limit.
• Pay-as-You-Use: You only pay fees when you use the facility, making it a cost-effective option.
• Reduced interest rates: Boost your financial wellness with up to a 7% reduction in interest rates by managing your money well through Vitality Money.
• Affordable repayments: Benefit from affordable monthly repayments, set at 2.5% of the outstanding balance.

This option isn't just credit; it's a financial ally that revolves around your ever-changing needs. Whether it's a spontaneous adventure or an unforeseen expense, the Revolving Credit Facility is your instant solution. For example:

• Kelly's kitchen makeover: Kelly loves good food, and her resolution for 2024 is to cook more at home so she can save money on takeaways and make healthier meals for her family. But first, she needs an environment that makes this goal more doable. So Kelly decides it's time to give her cramped kitchen a makeover! With her Revolving Credit Facility, she can immediately access the funds needed for her dream renovation, paying only when she uses her facility.
• David's tapped-out Medical Savings Account:After visiting the doctor for his annual medical checkup, David realises he has to urgently address a health issue while it's still preventable. This involves some unexpected medical expenses and rehab that isn't covered by his medical aid. Thankfully, Discovery Bank's Revolving Credit Facility can provide immediate financial support so he can start the treatment he needs right away.

2. The Single Credit Facility: Streamlined banking, simplified credit

Discover the ease of managing your credit with the Discovery Bank Single Credit Facility. This unique offering provides a single credit agreement shared across your overdraft and credit card accounts. Key features include:

• Unified credit agreement: Get one credit agreement, one borrowing rate, and one overall credit limit, giving you simplicity and control.
• Flexible allocation: Allocate your credit limit between accounts as needed. Shift available credit between accounts effortlessly.
• Dynamic borrowing rate: Your credit terms will dynamically respond to your financial behaviours, providing a personalised and rewarding banking experience. Manage your money well with Vitality Money to reduce your rate by up to 7%.
• Digital control: Easily manage and control your credit facility through the Discovery Bank app.
• Access to credit options: Access to both an overdraft facility and credit cards with a single credit agreement, while enjoying the benefits of a credit card such as 55 days' interest-free credit on select transactions, free travel insurance, amazing travel discounts and other rewards.

Your Single Credit Facility gives you the peace of mind that your credit needs are met, while taking the admin out of paying for your accounts. For example:

• Reena's month-end relief: From her puppy's emergency trip to the vet to an unexpected plumbing disaster and then a family member in need of a loan, it's been an unusually expensive month for Reena. She's had to spend a few thousands more that she normally would in a month, but thanks to her overdraft facility, she doesn't stress that her usual debit orders won't be covered. This facility gives her the breathing space she needs, and time to build her emergency savings up again without running short the following month.
• Dumi's off-season dream cruise: Dumi has fantasised about visiting the Caribbean for many years, and he's just stumbled upon a fantastic last-minute travel deal for a cruise there. He knows he has to secure a ticket fast, so he uses his Discovery Bank credit card to seize the opportunity. This card comes with great travel benefits (like travel insurance with Vitality Travel) built into it, so Dumi can tick off a bucket-list wish right away, without breaking the bank!

Seize your financial future with Discovery Bank

At Discovery Bank, we're reshaping the future of banking by making credit more accessible and more rewarding. Apply for credit seamlessly, manage it digitally, and enjoy the benefits of a bank that adapts to your lifestyle.

• Terms and conditions apply. Subject to credit approval
• This article is meant only as information and should not be taken as financial advice. For tailored advice, please contact your financial adviser.