Choose between a secured or an unsecured overdraft facility
  • Finance the day-to-day cashflow requirements of your normal business activity
  • Any amount in excess of SCR250,000 requires adequate security cover and is available up to one year after which it can be renewed
  • Advise your dedicated relationship manager  of your intention to renew the facility at least 2 months in advance of the expiry of the facility
  • Make use of the funds in your fixed deposit accounts for day-to-day cash management
  • Up to 90% of the balance in your fixed deposit as the overdraft limit on your current account of the same currency as the fixed deposit
  • Made available in connection with activity on your current account and is repayable on demand
  • A pre-agreed interest rate is applied and interest is paid only on the amount utilised
  • As per our latest tariff guide an arrangement fee of 1% of the facility amount is charged upfront

Let us contact you

  • Documents required

     
    • Your business registration documents, such as business name registration certificate (in case of sole traders or partnerships), or company registration certificate and other company formation documents such as memorandum and articles of association (in case of companies)
    • Business licence certificate if applicable to your business type
    • Documentary proof of business address
    • A valid identification document such as passport or national identity card for the proprietor, partners, shareholders and/or directors
    • Documentary proof of address such as a utility bill (not more than 3 months old) for proprietor, partners, shareholders and/or directors
    • Audited financials (last 3 years)
    • Cash flow (month to month and yearly)
    • CIS (Credit Information System) form
    • Project memorandum or business plan
    • Proof of equity
    • Absa reserves the right to accept or decline any application based on internal policy
    • We may request additional documentation as deemed necessary
    • Please consult your business banking relationship manager for more information

    *Terms and conditions apply.
    *Facility is subject to credit approval.

Need more help?

Call us on:
(+248) 438 3939

Email us:
customerservices.sc@absa.africa