The Commercial International Bank (CIB) provides an overdraft service, which is defined as a feature provided by banks and financial institutions added to the credit line, and thus is an extension of it and is granted when the account reaches zero, allowing the customer to continue withdrawing when the money runs out of his account.
The overdraft service offers customers many advantages, the most important of which are:
1 – Enjoying a credit limit of the facility with a value of up to 150,000 pounds according to the value of the salary
2- A competitive interest rate calculated on the outstanding outstanding balance only.
3- There are no fees in case of early cancellation or payment.
4- Obtaining an advance credit limit of up to 90% of your monthly salary from the debit current account.
5- The possibility of payment through more than 198 branches and more than 1,000 cash deposit machines.
Conditions for obtaining an overdraft credit facility from CIB Bank
1- Minimum age: 21 years Maximum age: 65 years at the time of renewal.
2- Insurance: life insurance that allows covering the remaining value of the loan repayment in the event of death (for the maximum credit limit of 150,000 Egyptian pounds).
Documents Required for Obtaining an Overdraft Credit Facility from CIB
1- Application form.
2- A valid national ID card.
3- A letter of salary items from the employer with a recent date (in the case of the first deal with the bank).
How to apply for an overdraft credit facility from CIB Bank
1- Submit the application online via the website or through one of the bank’s branches.
2- Bring the necessary documents to obtain the credit facility for overdraft.
3- A customer service representative will contact you if your request is approved.
