The facility will be applicable to customers who normally trade on credit terms.
Invoices to be discounted must be from reputable institutions to curb abuse of the facility. The bank has recourse to the client in case of non-payment.
- 18% p.a (on pro rata basis)
- 1% per quarter or part thereof minimum Tshs . 10,000
- Immediate access to the proceeds of sales & simple operational procedures
- Cheaper additional working capital with simplified security requirements
- The product has a maximum tenor of 90 days depending on the customer’s trade cycle
- Flexible security requirement depending on the integrity of the drawee and the tenor
- The facility is self-liquidating
- Maximum discount amount 80% of invoice value
- Competitive commission rates charged
- Equity Bank account holders