An overdraft facility is a formal arrangement with a bank which allows an account holder to draw on funds in excess of the amount on deposit. Overdraft facility financing is most commonly used by businesses as a way of making their working capital more flexible, although it can also be available to individuals. Banks which offer this service typically have a number of expectations from customers who use it, and it is important to be aware of these expectations before entering an overdraft facility agreement.


General Requirements


Application for Overdraft facility should be accompanied by the following documents;

  • A written application specifying the amount requested, purpose, justification, repayment period , method of payment and source of repayment and account number with Azania Bank
  • Tender document indicating its value and it’s expire date.
  • Photocopy of title deed (Certificate of Right of Occupancy) with lease hold remaining not less than two years or other collateral accepted by the Bank
  • Account operation with Azania Bank Limited not less than six month and/or one year bank statement from other banks
  • Reliable sources of income to service the facility
  • Maximum repayment period of 12 months
  • Photocopy of business licenses
  • Business plan
  • Cash flow projections for the next 12 months
  • 2 Passport size photos
  • Photocopy of Identity Card

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