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Business Overdraft is an unsecured revolving line of credit that offers you up to S$300,000. With no collateral required, enjoy greater flexibility in accessing your funds to drive your business further.
No collateral needed
You do not need to pledge any collateral with us. Only personal guarantee(s) required.
Efficient way to access cash for business growth
We strive to provide you with fast lending decisions, subject to satisfactory documentation (and subject to approval).
We have simplified the documents you need to produce with your facility application so that you can focus on building your business.
Fees & Charges
Business Overdraft Board Rate= 9.00%p.a
1.99% of approved limit (Minimum S$500)
1.50% of approved limit (Minimum S$500)
N.A. for as long as limit is in place
Eligibility & Documents
Sole Proprietors / Partnerships / Private Limited Companies
50% or more shareholdings is effectively held by Singaporeans / Singapore PRs
Minimum 3 years of business operations
Turnover between S$750,000 and S$21 million
Photocopies of Sole Proprietors’ / Partners’ / Principals’ / Directors’ Identity Cards / Passports
Company’s Goods and Services Tax statements for last 4 Quarters
Company’s operating bank current account statements for the past 6 months
Completed Business Overdraft Loan Application Form
Copy of Sole Proprietors’ / Partners’ Income Tax Notice of Assessment
Board of directors’ resolution
Memorandum & Articles of Association
Professional Certificate (if applicable)
Documents related to establishment of entity, identity and address proof documents
Terms and Conditions
The repayment period for each loan is subject to the Bank’s sole discretion.
The loan amount approved is subject to the Bank’s sole discretion.
All applications are still subject to, and conditional upon the Bank’s approval in the Bank’s sole discretion.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.