Overdrafts

Grants MFB overdrafts involve amounts
that are not so substantial in nature wherein repayments can be made within a short and specific period.

Applicants are advised to choose products under these categories if the following criteria are met

Scenario/Condition	Acceptable response
Amount needed	Not substantial
Income source	Multiple
Income fluctuation	Yes
Ability to absorb significant deduction at once	Yes
Possibility of transfer or retirement	Likely
Average net salary left after loan deduction	50%

PAYDAY OVERDRAFT

Applicant can draw down up to 50% of his salary on a 30 day cycle

Eligibility

Documentation required

Overdraft form
Application form stating amount, duration and purpose
Valid means of identification and recent passport
Six months salary statement of account
One guarantor with work ID and payslip (if on IPPIS) and post dated cheque (if not on IPPIS)

Applicant can draw up 80% of his salary on a 30 day cycle with revolving window

Eligibility

Documentation required

Overdraft form (click here)
Application form stating amount, duration and purpose
Valid means of identification and recent passport
Six months salary statement of account
One guarantor with work ID and payslip (if on IPPIS) and post dated cheque (if not on IPPIS)

Applicant can draw up to 50-80% of his salary and make bullet payment at a stated time targeting a particular income.

Eligibility

Documentation required

Overdraft form
Application form stating amount, duration and purpose
Valid means of identification and recent passport
Six months salary statement of account
One guarantor with work ID and payslip (if on IPPIS) and post dated cheque (if not on IPPIS)