Charges on Personal Overdrafts | Negotiation Fee – 1% of amount Minimum Fee – $100.00 Excess Rate – 18% or minimum $50.00 |
Charges on Commercial Overdrafts Negotiation | Negotiation Fee – 1.5% of amount Minimum Fee – $250.00 Excess Rate – 18% or minimum $250.00 |
Hive off overdraft to loan | Arrangement Fee – 1% of amount or minimum $250.00 |
NSF Cheque Paid Fee | $50.00 per item |
Monthly charge on loan installment arrears (late fees) | $75.00 |
Monthly commitment fee | 1% of amount to keep offer open up to 6 months – minimum $100.00 |
Processing Bank Guarantee (collected upon customer’s acceptance of the offer) | Minimum $250.00 |
In order to forestall customers from deliberately delaying the commencement of loan repayments by holding back on the drawdown, facility letters must clearly state: | The drawdown period allowed The date when repayments are to commence |
Statement of Interest Paid | If loan is current – $25.00 p.a. If loan is in arrears – $50.00 p.a. Statement (printout) of account – $5.00 per sheet |
Credit Reports to other businesses, banks etc. | $50.00 |
Banker’s Reports / Audit Reports | $50.00 |
Collection Fee (Non-Accrual Loans) | 1% of loan amount at the time given non-accrual status maximum $500.00 |
Loan Refinancing Fee | $250.00 |
Overdrafts 1st Loans
Benefits
Helps cover unexpected cash shortfalls by providing automatic protection against declined transactions
Prevents Non-Sufficient Funds (NSF) charges from occurring
Helps manage your cash flow more flexibly
Easy to arrange
Requirements
One (1) Piece of Identification e.g. valid Passport, National ID Card or valid Driver’s License
Proof of Address i.e. a Utility Bill, a Credit Card Statement, an existing Bank Account Statement from another financial institution, or an additional piece of Identification bearing the residential address. (These must not be in excess of 3 months old)
Job Letter or Reference Letter (not in excess of 3 months old)
Down payment