Temporary Overdrafts

This is a loan extended to salary earners and business owners to enable them to purchase homes, make house renovations, carry out equity.

Benefits

Bridges short-term working capital needs

Bridges short-term working capital needs.

Scale up business

Scale up business i.e., expansion and modernization of business.

Quick turnaround time in terms of loan processing

Quick turnaround time in terms of loan processing.

Offers greater financial flexibility to the customer

Offers greater financial flexibility to the customer.

No security required

No security required.

Unsecured amount of up to 50M

Unsecured amount of up to 50M.

Turnaround time within 3 days

Turnaround time within 3 days.

You can borrow up to 60% of your average monthly turnover

You can borrow up to 60% of your average monthly turnover.

Access to a dedicated Relationship Manager

Access to a dedicated Relationship Manager.

What we need from you: *

Photos of the business.
An elaborate location map of the customer’s residence.
Elaborate call report witnessed by the Branch Manager.
Include KYC standard requirements.
Passport-sized photo for directors.
Valid identification card.
Valid trading license.
Board resolution to borrow (for limited companies).
Company registration documents (where applicable).
LC letters from the area of operation and residence of the borrower.
Any other information requested by the bank depending on the nature of the request.

Features, Rates & Fees:

It targets traders and schools.
Maximum tenor - 90 days.
Prime +8= 29%.
Negotiation fee of 3%..
Loan application fees of 50,000 paid upfront on the customer's account.
Discounting factor - 60% of average monthly turnover on account.
Discounting factor - 60% of the average termly balance for schools/educational institutions banked at KCB.
Minimum amount offered is UGX 5,000,000.
Repayable through good account deposits.
Interest is linked to the bank’s prime lending rate and charged on a declining balance.