Corporate Banking

Overdraft

    Overdraft is a short-term advance of funds made available to the borrower cia current account maintained with the bank. Overdraft is also called a revolving credit as long as the outstanding balance (principal plus interest) is still within the approved overdraft limit. The borrower is required to pay interest on a monthly basis. Calculation of interest will be based on a daily basis. The overdraft limit is subject to annual renewal.