Overdraft Facility

Overdraft Facility

AccessBank Overdraft Facility is a fluctuating loan linked to business current account of Client. Our overdraft allows you to access extra funds through your transaction account up to an approved overdraft limit, avoiding overdrawn and dishonor fees. Interest is only charged on the amount overdrawn.

What does it offer you?

  • Money when you need it
  • You pay interest only on the amount you access or use
  • Interest accrues daily on the outstanding amount and is payable at the end of the month
  • Facility is available for use for 12 months and is renewable subject to good performance.

What do you need to apply?

  • Business registration documents
  • Good account turnover with AccessBank
  • Six months’ statements from another bank in case you are banking with another bank
  • Accepted collateral includes, but is not limited to, landed property, vehicle, cash, stock, etc