Overdraft
This facility is designed for current account holder who would be permitted to draw in excess of his/her credit balance with a view to paying back within a short duration.
Benefits
- It affords customers access to fund in times of temporary illiquidity.
- It can be a revolving/ structured or temporary overdraft with a tenor of 30 days.
- Repayment arrangement is one-off or by gradual reduction.
- No collateral is required for salary accounts domiciled with the CCMFB.
Qualifying Criteria
- Individuals or corporate bodies in account relationship for 3 – 6 months.
- Domiciliation of salary executed by the employer in favour of CCMFB.
- Demonstrate ability to repay through regular cash flow (Business accounts).
- Provision of two third party guarantors or collateral acceptable to the bank.
How to Apply
- Written application should be submitted for revolving/structured facility.
- Customer should complete application form.