Business Overdraft

Every SME needs a flexible financial safety net

Overview

A safety net for your SME when it's needed

Enjoy quick and easy access to collateral-free overdraft facilities.

Whether you're experiencing late payments from customers or need to replace equipment in an emergency, our business banking overdraft provides you with access to a continuous extra funding facility, whenever you need it.

Draw directly from your business account up to the approved overdraft limit - an ideal solution for businesses looking for a short-term option to boost cash flow.

Top features

Competitive interest rates

Most competitive rates

Quick facility approval

Fast approval process

Continuous line of credit

Continuous line of credit on your bank account

Multiple usage

Convenient multi-channel access

Features and benefits

  • Extra business funding when you need it: an extra cash flow reserve whenever unexpected expenses crop up or when delays in customer payments occur.

  • Continuous line of credit on your business bank account: credit line is available throughout the agreed overdraft term.

  • Cost effective, flexible borrowing: Payback occurs whenever funds are available. Interest is only charged when your business bank account is in debit

  • Fast approval process with minimal additional support documentation requirements.

  • Convenient multi-channel access (ATM, cheque, online banking, call centre and branch).

  • Flexible facility tenure (subject to annual credit review).

  • Fair pricing: Business overdraft arrangement fees and interest rates amongst the lowest in the UAE

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Fees and charges

Overdraft
List of charges Requirements / Charges
Annual Interest Rate As per prevailing rates and policies

Eligibility criteria

Overdrafts Criteria
Business Sectors Open to all registered business entities operating in the trading, manufacturing, professional or service sectors.
Age Limit Applicants should be between 25-65 years during the finance tenure.
Business overdrafts

Required documents

  • National ID or valid passport with UAE residence visa and Emirates ID of all signing authorities and shareholders, if applicable
  • Valid legal and constitutive documents (i.e. Trade License, Certificate of Commercial Registration, Free Zone Certificate of Incorporation, Memorandum of Association, Partnership Agreement) as applicable
  • Power of Attorney or Board Resolution, if applicable
  • Proof of Address
  • Details of Ultimate Beneficial Owners
  • Bank Reference Letter and Company Profile, if applicable
  • Audited financial statements

Relevant links

Our solution

Ensure that fund imports for your business needs are undertaken securely and with the highest standards.

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From simplicity to sophistication, we provide products that suit your exports business.

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Guarantees

With the right partner, make payment obligations for your business with confidence and ease.

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Trade Services and Advisory Solutions

Achieve your goals with readily available working capital for your business needs.

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Disclaimer

All fees and charges mentioned are subject to change from time to time at the sole discretion of Commercial Bank of Dubai without prior notification. Charges for services not indicated in this List of Fees and Charges are available on request. Additional expenses, e.g. postage, cable, courier, fax, legal fees, etc. will be charged for, where incurred.

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