Overdraft facilities

This is a credit available on your current account, by which we authorise you to have a negative balance on your current account up to an agreed floor. This provides a solution to your ongoing need for short-term working capital.

  • You can freely withdraw money from your current account, up to the limit of your overdraft facility.
  • Having a credit facility on your current account gives you additional security. It enables you to meet to your temporary need for working capital very easily.
  • It provides you with a rolling credit facility. You can withdraw money at any time, as you need it.
  • This type of credit facility is particularly recommended for companies that need varying amounts of short-term working capital.

Discounting facility

Discounting enables you to obtain funds immediately in exchange for documents lodged with the bank. Once the discount is in effect, the funds are available immediately in your account.

The documents can be bills of exchange, invoices, promissory notes, etc.

When the document matures, the bank will require payment.

Fixed advance

A fixed advance is a form of simple short-term credit by which the bank provides the borrower with an advance of a fixed amount for a fixed period of time and at an interest rate agreed in advance. Collection is in accordance with a repayment plan negotiated with the bank.

This advance can be in the form of an investment loan.

(*) All loans are subject to approval by the Loans Committee