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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.

Business Internet Banking users

Save time, apply for your small business loan online!

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.

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