Very short term credit facility designed to meet the Bank customers' urgent day-to-day cash requirements for their business transactions. The facility is renewable based on borrower's credit history with the Bank.
• Loan term is up to a maximum of 12 months
• Commitment fee of 2% is charged
• Repayable through good account deposits
• Interest is linked to the Bank’s prime lending rate and charged on declining balance
• Minimum amount offered is Ushs100,000
- Current account with the bank.
- Application fee of UShs. 15,000.
- Completed Overdraft facility application form.
- Collateral for securing the loan.
• Financial card required
- Faster processing speed.
- Available funds for emergency cash needs.
- Multiple disbursements allowed.
- Offers greater financial flexibility.