Business Overdraft

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Overdraft

A convenient and flexible answer for your fluctuating day-to-day cash flow.

ICB EasyOverdraft facility allows you to withdraw funds quickly and conveniently in excess of the funds that are available in your current account up to the approved credit limit whenever required. It is available to customers, subject to a pledge of collateral acceptable to the bank.

Features & Benefits

  • Fast approval


  • Cost-effective short-term borrowing facility of maximum 1 year


  • Wider range of accepted collateral


  • Overdraft facility is available in TZS and USD currency


  • Margin of advance between 50% up to 70% depending on the collateral pledged and 90% when secured by cash collateral (Fixed Deposit)


  • No Fixed Repayment Schedule


  • Flexibility to utilize funds as and when required


  • Affordable and attractive interest rates


  • Interest is calculated on a daily basis based on the balance outstanding at the end of each business day

Fees & Charges

  • Please refer to ICB Tariff Guide for fees and charges related to this product

Eligibility

  • Individuals aged 18 years and above

  • Non-Individuals – (Clubs, Societies or Associations)

  • Sole Proprietorship and Partnership

  • Limited company registered in Tanzania

To know more, click on the form to fill your contact details and our customer service executive will contact you or drop by at our nearest ICB branch.