Overdraft Facility
Introduction
This is a secured overdraft facility ("overdraft") granted to individuals for flexible access to standby credit:
It is a revolving credit facility that is repayable on demand. You are offering your pledged security that is acceptable by the Bank for the overdraft.
Interest is charged on the utilised amount of the overdraft
Acceptable Collaterals
You can use either fresh/existing collaterals with BOCM to secure for the overdraft
Fixed Deposit (FD)
Eligibility
Individual age 21 and above
Documents Required
For employed individual:
Photocopy of NRIC
FD with BOCM and/or Title/Sales & Purchase Agreement of the Property
Latest 3 months' salary slip
Latest 6 - 12 months' commission statements (for commission earner)
Latest 3 - 12 months' bank statements showing income crediting
Latest EPF Statement
For self-employed individual:
Photocopy of NRIC
FD with BOCM and/or Title/Sales & Purchase Agreement of the Property
Business registration and other valid business certification by relevant authority
Latest 6 – 12 months' business bank statements
- Latest financial account/management account or Profit & Loss statement
Product Disclosure Sheet
Product Disclosure Sheets for Overdraft Facility Secured by Fixed Deposits
Application Procedures
Please contact our Sales Team at 03-2387 8228 / 03-2387 8815 or visit any of our Branches for more information.