This is a special facility catered for the personal needs of executives and allows them to overdraw their accounts up to agreed limits.
- The overdraft limit is 100% of net income and to a maximum of K5, 000, 000.00.
- Maximum repayment period of 12 months.
- The facility will be repaid through salary but other sources of income need to be declared by client.
- Interest rate will be charged at base rate applicable plus 3%
- Funds are available immediately and one can use as much of their agreed overdraft limit as needed.
- Interest is only paid on the portion of the OD that is used