Bank Overdraft

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.

Main Features:

• Loan term is up to a maximum 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 UShs. 100,000/=

Basic Requirements:

• Current account with the bank.
• Application fee of UShs. 5,000/=.
• Completed Overdraft facility application form.
• Collateral for securing the loan.

Benefits:

• Faster processing speed.
• Available funds for emergency cash needs.
• Multiple disbursements allowed.
• Fosters good will between the Bank and its credit worthy borrowers.
• Offers greater financial flexibility.