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What is a Pre-Approved Personal Overdraft?

Unlike the regular overdraft, the pre-approved overdraft only requires a single application and draw down can be done as and when required. The facility is available to Private Banking clients only and may be obtained on current accounts in either Kwacha (ZMW) or United States Dollar (USD). The facility can be secured using your existing fixed deposit funds held with the Bank or unsecured as long as your regular earnings or monthly salary are remitted to your current account held with the Bank.


  • No expiry limits
  • Single application as this is pre-approved
  • Secured facilities are exempt from insurance fees
  • Maximum allowable loan amount of K1,000,000 or USD equivalent

How to get it and what to expect

The following are the necessary requirements to apply.

  • Copy of NRC
  • 40% debt service ratio
  • Duly completed application form
  • Passport size photo and copy of NRC/valid driver’s license or passport
  • Collateral in the form of:

- 50% of net monthly income for unsecured facilities.

 - 90% of the Fixed Deposit held with the Bank or 80% if held in different currency

  • Letter of undertaking from your employer, stating the benefits due to you to date
  • Remittance of regular earnings or monthly salary to your current account held with the Bank
  • Copy of valid executed employment contract for salaried applicants employed on contract

Features of Pre-approved Personal Overdraft Facility

  • Arrangement fees between 1.5% to 3.5% collected upfront
  •  Insurance fees as per arrangement with credit life insurer. Secured facilities are exempt from insurance fees
  • Variable interest rates subject to the Bank’s prevailing marginal rate and BOZ policy rate. Interest will only be applicable on the utilised amount

Ts and Cs Apply

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