An overdraft is a fluctuating short term facility that is customized to meet your short-term financial needs for working capital purposes. It is linked to your business current/transactional account and you can use as much as you need, up to your limit.

What does it offer to my business?

Convenience: once approved the facility is available and can be used whenever required - for the agreed period subject to review.

The approved limit is loaded on your Business current account.

The facility remains available even if you don’t use it.

Is affordable and one of the least expensive forms of short-term finance.

Repayment terms, if need be, are negotiable with a relationship manager.

Interest is charged based on use.

Evaluation principles are based on cash-flow assessment.

Collateral is based on conditions of grant.

Period is 12 months (annual review).

Qualifying Criteria

Existing customers who have existing business accounts with Bank BIC Namibia and prospective new customers.

What do I need to apply?

Visit your nearest Bank BIC Namibia branch with the following documentation:

  • Cash-flow projections.
  • Latest signed Annual Financial statements and year to date management accounts.
  • Bank statements (new customer).
  • Personal Assets and Liabilities statements (members or directors).


Commemorative N$30 BankNotes

15 of May 2020

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02 of April 2020

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27 of March 2020

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