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Revolving Overdraft (ROD) 2018-02-12T13:16:45+00:00

Revolving Overdraft (ROD)

  • Revolving-Overdraft

Short-term Financing

Save yourself the stress of getting a loan. Get an overdraft with your salary current account.

  • 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 convenience 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) The signatories must be independently verified by a representative of Wema Bank
  • Proof of income (3 months’ pay slip or 3 months account statement)
  • Proof of address (Physical visitation and report by RM) supported with a copy of recent utility bill.
  • Proof of identity (Staff ID is acceptable but National ID, International Passport or Driver’s License may be required where necessary)

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