Take care of urgent needs with an overdraft of up to 250,000 naira available from the first payment made into your Wema salary account. Overdrafts take just two days to process and are renewable.
Features
- 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
Benefits to Customers
- 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
Documentation
- 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)