Revolving Overdraft

Bookmark and Share

Target Market
Doc Required

Our Revolving Overdraft is a short term financing option available to employees of pre-enlisted companies who operate only a Salary Current Account with Wema Bank.

  • Formally employed staff of companies/employers pre-approved by Wema Bank
  • Available to existing salary current account holders
  • New customers will have access to overdrafts as soon as the first salary payment is made to the Wema Bank salary account
  • Maximum overdraft limit of N250,000
  • Overdraft to be cleaned up monthly, and will be available for a 12 month tenor
  • Overdraft may be renewed at expiry, subject to request from customer
  • Zero processing cost
  • Apply for overdrafts from the comfort of your office
  • Low turnaround time for overdraft disbursement (48 hours)
  • Zero account maintenance charge
  • Competitive interest rate
  • Access to electronic banking products & services
  • Duly completed loan application form & executed offer section
  • Letter   of   introduction   signed   by   an   authorized signatory of employer
  • Irrevocable letter of salary domiciliation (duly executed by employer's authorized signatory)
  • Proof  of  income  (3  months'  pay  slip  or  3  months account statement)
  • Proof of identity (Staff ID is acceptable but National ID, International  Passport  or  Driver's  License  may  be required where necessary)
Text Sizer
Screen reader
October 28, 2016
VOLUME TRADED 2,113,520 Up