A facility granted to current account holders, which enables them to overdraw these accounts up to an agreed limit.
What does it offer me
- Short term facility (maximum period is 1 year),
- Normally for working capital,
- Should fluctuate widely within the approved/agreed limit,
- Interest is calculated on utilisation on a daily basis and is debited to the account monthly,
- Renewable on expiry,
- Repayable on demand,
- Usually secured with suitable collateral
Who can apply
Current business account holders.
How to apply
Contact your nearest branch for more details.