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
 

Application Procedures

Please contact our Sales Team at 03-2387 8228 / 03-2387 8815 or visit any of our Branches for more information.

Get in Touch or Apply Now!