You are not logged on. Log on to Internet Banking Internet Banking Icon: Not logged on

Overdrafts

Overview

A pre-arranged Overdraft provides an established line of credit on a customer’s operating account for a short period, with interest charged at a variable rate.

Small businesses will benefit from protection against anticipated cash shortfalls, when they may be required to make payments before sufficient revenues are available.

Need more information?

Small Businesses

  • Call us on 299-5555

Larger Businesses

  • Call us on 299-5333

Key features and benefits

  • Availability of financing for short-term needs (1 year and then renewable)
  • Payments can be flexible
  • Credit line of $5,000 and over available
  • Flexible terms
  • Variable Bank of Bermuda Commercial base rate charged daily to chequing account

What you should know before you apply

  • A spread reflective of the risk, size and term of the loan is added to Bank of Bermuda's Commercial base rate.
  • A service fee of a maximum of 2% of the face value of the loan is charged.

You may also be interested in...