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Overdraft

  • Is a Financing provided to corporate and SME customers to meet cash
  • flow needs. This facility primarily bridges the gap between customers
  • and suppliers.

Features

  • Minimum loan amount of TZS 100 million
  • Repayment period of 12 months
  • Requirements
  • Turnover of not less than 5 times of requested amount
  • Collateral – legal mortgage (preferably), cash cover, corporate guarantee (for very structured companies)
  • Open an account at BANK OF AFRICA - TANZANIA

Benefits

  • Ensures that the customer will have cash available at all times
  • Interest is only charged on amount overdrawn

 

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