Bank Overdraft
Product Features
- Minimum amount offered is UShs. 100,000, maximum is UShs. 20 billion.
- Facility period is up to a maximum of 12 months.
- Repayable through good account deposits.
- Interest is linked to the bank’s prime lending rate and charged on declining balance.
Benefits
- Faster processing speed.
- Offers greater financial flexibility to the customer.
Requirements
- Current account with the bank.
- Completed Overdraft facility application form.
- Good account turnover.
- Payment of loan processing fees.
- National ID.
- Collateral for securing the loan.