i. Salary Advance
This facility allows customers to receive their salary ahead of payday in order to meet their personal obligations ahead of their salary payment. This facility is offered to employees of pre-approved organizations.
Features & Benefits

• Employees can access up to 75% of their one (1) month salary net of tax and all other deductions but limited to 150% of the employee’s terminal benefits and/or entitlements.
• The maximum tenor is 90 days (3 months) with a 30 day clean upcycle.
• An offer letter is made available within 2 working days from the time of request
• Competitive interest rates.
• Up to three (3) months repayment period.
• The interest calculation is made on reducing balance.

Terms & Conditions

• Request Letter or Application Letter/Form.
• Proof of terminal benefits or entitlement such as Provident Fund, Tier 2 or Tier 3 Pensions.
• Payslips for the last 3 months.
• Last 3 months bank statements if salary has been channeled through OmniBSIC Bank for less than three (3) months.
• Letter of undertaking and domiciliation endorsed by employer to channel salary and all benefits through OmniBSIC Bank.
• Salary must pass through the OmniBSIC Bank at least once before loan processing.
• Default charge of 10% per annum on overdue balance of principal and interest.
• Insurance charge of 1% of the principal amount.

ii. Personal Loans
We offer personal loans to customers to cater for their personal needs, extra financing requirements and unforeseen circumstances.
Features & Benefits

• An offer letter available within 2 working days.
• Competitive interest rates.
• Up to thirty-six (36) months repayment period.

Terms & Conditions

• Completed application form.
• Payslips for the last 3 months.
• Six months immediate past bank statement(salary account)(i.e. if the salary is channeled through OmniBSIC Bank for less than six (6) months.
• Letter of undertaking endorsed by employer to channel salary and all terminal benefits to OmniBSIC Bank.
• Collateral when applicable must be in line with the Bank’s Collateral Standards. Refer to Collateral Standards for details.

iii. Scheme Loans - We also offer loan solutions facilitated in agreement with the employer for employees. Employees can expect to enjoy the following benefits:
Features & Benefits

• Competitive Interest rate
• Offer letter within 2 working days.
• Up to thirty-six(36) months repayment period
• Terms and conditions negotiated by the employer.

Terms & Conditions

• Signed Scheme loan agreement with employer
• Completed application form endorsement by employers designated authorized signatories.
• Payslips for the last 3 months.
• Source deduction by employer
• Letter of undertaking endorsed by employer to assign terminal benefits to OmniBSIC Bank.

Controller Loans - We offer loans to all Government workers who receive their salaries through the Controller and Accountant General’s Department.(CAGD)

Terms & Conditions

• Credit life insurance of 4%
• Processing Fee of 5%
• Flexible interest rate.

Bancassurance
Insurance products are made available to customers through a variety of bancassurance products including:

• Wealth Master
• Child education
• Home Call
• Ultimate Protection

1. Wealth Master
It is an endowment plan to enable our customers to build wealth to achieve their short to medium-term goals in life. 
Features & Benefits

• Ready cash benefits when the plan matures.
• An opportunity to place funds in an annuity if one is not in need of funds at maturity.
• The minimum policy term is 4 years and the maximum is 10 years.
• Wealth Master policyholder is entitled to 50% of promised sum assured if the policyholder suffers a total and permanent disability and the remaining 50% is paid at maturity.
• Promised full sum assured is paid to beneficiaries when Wealth Master policyholder is no more.
• A (certificate) document is given to the Wealth Master policyholder after verification and payment of the first premium. This certificate can be used as collateral for a loan facility.
• Prompt payment of all legitimate claims (within 48 hours upon receipt of all relevant documentation).
• In case of accidental death e.g. motor accident, the claim is paid immediately irrespective of how long one has signed on to the policy once the first premium has been paid and policy is current.

Terms & Conditions

• Suitable for OmniBSIC customers between the ages of 18 and 64 years.
• The customer must be a regular income earner.
• Customers must be in good health at the time of application.
• The account holder selects how much to contribute monthly. However, the minimum contribution is GHS 50.00.
• The policyholder needs to make a monthly contribution regularly up to the end of the chosen term to make a claim.
• The policyholder will get a reduced benefit proportionate to the promised amount if they are unable to pay all the contributions at the end of the chose term.
• After 24 months the policyholder can surrender for the surrender value. However, there are significant surrender charges if you want to stop the contribution along the way.
• The plan may be reinstated at any time within twelve (12) calendar months from the date contribution ceased upon payment of arrears plus interest.
• The plan will lapse when the account holder fails to pay his/her contribution on or before its due date unless the policy is in its grace period.

2. Child Education
It is an endowment plan which provides policyholders a guarantee for the education of their wards to the highest level possible whether they are there alive or not or when they suffer life’s contingencies such as disability and dreaded diseases. 

Features & Benefits

• Ready cash benefit when the plan matures.
• An opportunity to place funds in an annuity if one is not in need of funds at maturity.
• A future promised amount is paid out to beneficiaries if the account holder is no more.
• Waiver of contribution till maturity if the account holder suffers total and permanent disability.
• Waiver of contribution till maturity if the account holder suffers a dreaded disease after the waiting period.
• Waiver of contribution for 12 months if the account holder is retrenched from work.
• Prompt payment of all legitimate claims (within 48 hours upon receipt of all relevant documentation).

Terms & Conditions

• Customers must be between the ages of 18 and 50 years.
• The policyholder must be a regular income earner.
• Customers must be in good health at the time of application.
• The main person on whose life the plan depends is the (account holder) applicant or policyholder who must not be more than 50 years at inception.
• The chosen premium cannot be changed.
• The account holder selects how much to contribute monthly. However, the minimum contribution is GHS 50.00.
• The minimum policy term is 10 years and the maximum is 25 years.
• The plan will lapse when the account holder fails to pay his/her contribution on or before its due date unless the policy is in its Grace Period.
• Reduced benefit proportionate to the promised amount, if they are unable to pay all the contributions at the end of the chose term.

3. Home Call
Our funeral assurance plan allows customers to sign on to and benefit from assured cash which enables them to organize befitting burial and funeral ceremonies for their lost and loved ones.

Features & Benefits

• Provides the account holder great peace of mind
• The Home Call Plan cash benefits should be adequate to cover the following expenses:
• Mortuary Fee;
• Casket/Coffin;
• Hearse Service;
• Pallbearer services among others;
• Costs for Post Burial Expenses on claims;

• Ready cash benefit to cover the burial and funeral expenses covered.

Payment Requirements
Legitimate claims will be paid promptly on receipt of the following through any OmniBSIC selling branch but not by way of limitation:

• A valid Medical Certificate of Cause of Death or;
• Medical history of the deceased or;
• A police report (in case of accidental death) and
• Evidence of coverage (Policy document) and valid National Photo ID of the claimant.
• There is profit sharing. Every three years you get 25% of the third year’s annual contribution if no one passes on.

Terms & Conditions 

• Must be a customer of OmniBSIC Bank.
• The applicant must be between the ages of 18 and 64 years.
• Customers must be in good health at the time of application.
• The Policyholder must be a regular income earner.
• The applicant’s spouse must not be more than 64 years to qualify.
• The applicant’s parents and parents-in-law and one extended family member not more than 74 years each qualify under the policy.
• Applicant’s children not above 23 years qualify under the policy

4. Ultimate Protection plan

This policy ensures the dreams and aspirations of every family or business partners are not affected upon the demise or disability of the breadwinner or business partner.
With the best interest of our clients at heart, the Ultimate Protection Plan is crafted to offer businesses, breadwinners and their defendants the vital protection from the unexpected and eventual events of disablement and death.

Features and benefits

• Provides absolute peace of mind.
• Attractive sum assured (benefits).
• Attractive non-medical limit of GHC200, 000.00
• Return of all premiums at the end of policy term.
• Adequate financial security for dependents or business partners.
• Medical cost for insurance is born by StarLife; subject to the StarLife’s medical limit.
• Return of premium if death occurred naturally within the waiting period.
• Policy is assignable.
• Business continuity in the event of unexpected life contingencies such as Death, Total / Permanent Disability and Critical Illness.

Terms & Conditions

• Minimum age at entry is 19 years and Maximum age is 57 years. (Please note that this is age next birthday).
• This policy has a minimum term of 8 years and a maximum of 20 years. The age of the assured at the end of the term shall not exceed 65 years.
• The owner, as of the date of issue of this policy, is the Life Assured whose name appears on the schedule.

Please refer to the tariff guide for other charges, fees and commission payable with respect to all products and services.

GENERAL PRODUCTS AND SERVICES

Savings Account

This account allows customers to deposit money, keep it safe, and withdraw funds, all while earning interest.
Features & Benefits

• Accrued daily interest, credited monthly.
• Access to e-banking bouquet (SMS Alert, Mobile Banking, Internet Banking, E-Alert, E-Statement)
• Electronic Cards are optional (ATM Cards, other electronic cards).
• Dedicated Relationship Management
• On-site cash collection.

Terms & Conditions

• Submit fully completed Savings Account Opening Form.
• An initial deposit of GHS 50.00 is required.
• Minimum operating balance of GHS 50.00.
• A minimum amount of GHS 5,000.00per on-site collection within 5km from collecting branch.
• E-Banking Bundle Fee applies.
• A valid national ID (Passport, Voter's ID, Driver's license, National ID) of each signatory to account.
• Two passport size pictures of each signatory to the account.
• Digital Address to business premises and residence.
• Utility bill to confirm the place of business/place of residence.
• Valid business registration documents.
• Refer to rates board for interest rates receivable.
• Refer to tariff guide for charges, fees and commission payable.

Current Account

Our current account is a standard transactional demand deposit account that allows customers to withdraw cash without notice and make deposits through a variety of financial instruments. It is available to all individuals and corporate organizations.

Features & Benefits

• The account holder receives a personalized cheque within 48 hours upon opening the account.
• Free monthly statements are sent to holders in addition to interim statements made on-demand.
• Lodgements/Deposits into the account via cash, cheques or transfers.
• Withdrawals can be made by ATM or at the counter via cheques.

Foreign Exchange Account

Our Forex Account is a current account opened for individuals and companies with foreign currency funds. These accounts can be operated with funds mobilized from both within and outside the country, i.e. on-shore funds and off-shore funds in any of the following convertible currencies: GBP, USD, EUR, CFA, FFR. Lodgements into these accounts are restricted to sources outside Ghana and include the following instruments: Travelers Cheques; foreign drafts; inward Remittances; foreign Cheques.

Features & Benefits

• Lodgements into these accounts are restricted to funds sourced within Ghana
• Transfers out of these accounts require documentation.
• Customers who lodge cash into these accounts may withdraw any time with or without notice.
• Withdrawals by customers who lodge cheques or transfer funds attract a charge.
• Transfers from these accounts are unrestricted and are not covered by any documentation 

Domestic Transaction Banking & Cash Management 

Through Automated Clearing House (ACH), we offer customers a platform for effecting local currency transfer from one bank to the other on client request. 
Features & Benefits

• Direct Credit and Direct Debit EFT transfers
• Convenience for users to make bulk payments for (services and goods)
• The option to choose express or normal EFT window

Terms & Conditions

• Must have a Current and Savings Account.
• Must complete the necessary KYC, EKYC, EDD, etc. as may be required.
• Commission applies per tariff guide.

Features & Benefits

• Inward and outward clearing of cheques.
• Transmitting of the scanned MICR details of cheque electronically for processing.
• Convenience to users of cheques in making payments for services and goods.
• The option to choose either express or normal clearing window.
• The option to stop payment for various reasons.
• Resolution timeframe of 30 mins for process errors.

Cash Collection

We also provide cash collection services to customers intended to provide a safe and convenient way to deposit into their bank accounts from their business locations.

Services available include:

• Church collections
• Funeral collections
• Collections for training seminars
• Daily sale collections

Terms & Conditions:

• Must have a Current and Savings Account.
• Must complete the necessary KYC, EKYC, EDD, etc. as may be required.

Apply and sign a cash collection agreement.

Ghana Interbank Payment & Settlement System (GHIPSS)

We also use this platform to receive local currency transfers banks in the country based on customer requests. 

Features & Benefits

• Real-time payment platform monitored by the Bank of Ghana.
• A convenient way of receiving funds from/or into any account.

Terms & Conditions

• Must have a Current Account and Savings Account.
• Must complete the necessary KYC, EKYC, EDD, etc. as may be required.

Cash Backed Loans

A quick loan secured with cash. Customers can expect to enjoy the following benefits:

Features & Benefits

• The cash security must be held with OmniBSIC Bank.
• The amount granted must not exceed 90% of the hypothecated funds. Principal + Interest (for 30 days) + Fees should be less or equal to 90% of cash held.
• Request up to GHS 1 million shall be approved within 48 hours.
• The facility is available to current and potential customers of the Bank who have cash and/or investments in fixed deposits and seek to borrow against those funds/investments.
• Tenure of up to 60 months.

Cheque Discounting 

We offer credit facilities that give customers immediate value to confirmed commercial bank instruments including bank cheques, bank drafts, bankers’ payment and other confirmed instruments in this class.
Features & Benefits

• It is targeted at customers and potential customers presenting confirmed instruments from the Bank enlisted counterparties.
• Tenure of the facility is linked to the maturity of the confirmed instrument but not exceeding 45 days.
• Request up to GHS 1million shall be approved within 48 hours.
• Tenure of the facility is the same as the value date of cheque/instrument but not exceeding 45 days.

Terms & Conditions

• Cheques or bank instruments must be from an acceptable and approved counterparty.
• OmniBSIC should be able to confirm the authenticity of the cheque or bank instrument.
• The customer must execute an enforceable letter of indemnity for each cheque or instrument being discounted.
• Cheques presented for discounting shall not be returned cheques being represented.
• Refer to tariff guide for other charges, fees and commission payable.

Receivable Finance

It is the purchase of debt of existing/prospective customers by the Bank by acceptable and approved counterparties offered as a working capital release for up to 150 days. 
Features & Benefits

• Requests up to GHS 1million shall be approved within 48 hours by Management.
• Tenure of the facility is up to 90 days; exceptional cases may have up to 150 days.
• The invoice/certificate shall be discountable only if it is outstanding and has been fully accepted as good for payment within six (6) months from date of issue by a listed or acceptable counterparty.
• The facility is available to suppliers of goods and services to pre-approved counterparties like top multinationals and corporates such as MTN, Vodafone, Tullow, Total, GOIL, Shell Vivo, Unilever and Nestle.
• Maximum Tenure of the facility is 90 days. Extension granted shall be within 150 days from the certificate or invoice date.

Terms & Conditions

• Certificate or invoice must be from an acceptable and approved counterparty.
• The Bank should be able to confirm the authenticity of the invoice or certificate.
• Invoice or certificate must be confirmed by business managers.
• Certificate or invoice must be payable within 6 months from the date of issue.
• There shall be an enforceable letter of undertaking or tripartite domiciliation agreement among the customer, Bank and counterparty.
• Certificates or invoices from MMDAs/Public institutions must be backed by security of minimum 120% Open Market Value.
• Cumulative arrears days of customers in the last 6 months must be less than 30 days.
• Processing Fee of up to 2.5%

Term Loans

We offer structured working capital support for Small, Medium and Corporate Businesses who may require it.
Features & Benefits

• Minimum of GHS 100,000.00.
• Flexible repayment structure with tenure of up to 24 months for term loans for working capital.
• Flexible repayment structure with tenure of up to 60 months for term loans for fixed asset acquisition.
• Offer letter within 10-20 working days after receipt of all relevant documents. 
• Competitive interest rates.
• Flexible credit structuring for monthly, quarterly, semi-annual repayment based on Risk Asset Acceptance Criteria (RAAC).

Terms & Conditions

• Processing Fee of up to 3.5%
• Default charge of 10% per annum on overdue balance of principal and interest.
• Early repayment penalty of 0.25% of the balance outstanding.
• Interest rate of GRR + up to 15%
• Refer to the tariff guide for all other applicable charges.
• Open a current account.
• Completed credit application forms.
• Board resolution to borrow if Limited Liability Company.
• Bank statements (minimum 6 months).
• Investment plan showing what and how the money will be used (we can support you to create one).
• Financial statements for at least one year (audited statements for corporate clients).
• Cash Flow statements (One year historical and minimum one year projected).
• Proposed security/ collateral.
• Valid business registration documents.

Overdrafts

This facility offered to our clients allows them to overdraw their business account within the approved limit for working capital needs. 
Features & Benefits

• Tenure of up to 12 months.
• Offer letter within 10-20 working days (depending on the amount)after receipt of all relevant documents.
• Competitive interest rates.

Terms & Conditions

• Line is renewable based on satisfactory performance and at the discretion of the Bank.
• Processing Fee of up to 3.5%
• Default charge of 10% per annum on overdue balance of principal and interest.
• Early repayment penalty of 0.25% of the balance outstanding.
• Interest rate of GRR + up to 15%
• Refer to the tariff guide for all other applicable charges.
• Open a current account.
• Completed credit application forms.
• Board resolution to borrow if Limited Liability Company.
• Bank statements (minimum 6 months).
• Investment plan showing what and how the money will be used (we can support you to create one).
• Financial statements for at least one year (audited statements for corporate clients).
• Cash Flow statements (One year historical and minimum one year projected).
• Proposed security/ collateral.
• Valid business registration documents.

Credit Line

With this structured credit facility, our clients can draw down and repay credit according to a pre-approved business operating cycle.
Features & Benefits

• Minimum of GHS 100,000.00.
• Tenure of up to 12 months.
• Offer letter within 10-20 working days (depending on the amount) after receipt of all relevant documents.
• Competitive interest rates.

Terms & Conditions

• Facility drawdown is subject to pre-approved conditions.
• The line is renewable based on satisfactory performance and at the discretion of the Bank.
• Processing Fee of up to 3.5%
• Default charge of 10% per annum on overdue balance of principal and interest.
• Early repayment penalty of 0.25% of the balance outstanding.
• Interest rate of GRR + up to 15%
• Refer to the tariff guide for all other applicable charges.
• Open a current account.
• Completed credit application forms.
• Board resolution to borrow if Limited Liability Company.
• Bank statements (minimum 6 months).
• Investment plan showing what and how the money will be used (we can support you to create one).
• Financial statements for at least one year (audited statements for corporate clients).
• Cash Flow statements (One year historical and minimum one year projected).
• Proposed security/collateral.
• Valid business registration documents.

Bank Guarantee

We also issue bank guarantees on behalf of our clients' customer(s) to beneficiaries (Third-party, Contract Employer) providing assurance that the liabilities of the Bank’s customer(s) to the beneficiary (Third-party, Contract Employer) will be met.
Features & Benefits

• Tenure based on underlying contract or agreement or offer. 

Terms & Conditions

• Customer must qualify per the Bank’s Risk Asset Acceptance Criteria.
• Processing Fee of up to 3.5%.
• Quarterly commission of up to 3%.
• Prevailing Bank interest rate for term loan or overdraft will apply once the BG crystallizes and paid by the Bank.
• Refer to the tariff guide for other applicable charges.
• Acceptable collateral based on the Bank’s collateral standards must be provided.

Bid Security

We also offer clients’ bid securities intended to give assurance that a selected bidder will sign a contract or otherwise forfeit their bid security. This type of guarantee is intended to deter bidders for a contract from withdrawing their bids before the end of the bid validity period due to forfeiture of the bid security amount. 
Features & Benefits

• Tenure based on underlying contract or agreement or offer. 

Terms & Conditions

• The customer must qualify per the Bank’s Risk Asset Acceptance Criteria.
• Processing Fee of up to 3% or a flat fee of GHS 200.00 whichever is higher.
• Prevailing Bank interest rate for term loan or overdraft will apply once the BG crystallizes and is paid by the Bank.
• Acceptable collateral based on the Bank’s collateral standards must be provided.

Advance Payment Guarantee (APG)

This type of guarantee that provides formal assurance for our clients that the advance payments made to contractors or suppliers will be returned to the Contract Employer/Buyer if the Contractor/Supplier does not fulfill its obligations under the APG.
Features & Benefits

• Tenure based on underlying contract or agreement or offer.

Terms & Conditions

• The customer must qualify per the Bank’s Risk Asset Acceptance Criteria.
• Processing Fee of up to 3% or a flat fee of GHS 200.00 whichever is higher.
• Prevailing Bank interest rate for term loan or overdraft will apply once the BG crystallizes and is paid by the Bank.
• Refer to the tariff guide for other applicable charges.
• Acceptable collateral based on the Bank’s collateral standards must be provided.

Retention Guarantee

We issue Retention Guarantees on behalf of contract employers/ buyers guaranteeing that Contractors/Suppliers will resolve contract defects noticed within the liability period even after the release of retention amount in advance at the request of the Contractor/Supplier.
Features & Benefits

• Tenure based on underlying contract or agreement or offer. 

Terms & Conditions

• Customer must qualify per the Bank’s Risk Asset Acceptance Criteria.
• Processing Fee of up to 3% or a flat fee of GHS 200.00 whichever is higher.
• Prevailing Bank interest rate for term loan or overdraft will apply once the BG crystallizes and is paid by the Bank.
• Refer to the tariff guide for other applicable charges.
• Acceptable collateral based on the Bank’s collateral standards must be provided.

Comfort Letter

Our customers' non-committal letter from the Bank indicating its ability to support customers. 
Features & Benefits

• Helps the applicant to meet contract requirements.
• It may be indicative that the applicant is in good standing with the Bank.

Terms & Conditions

• The applicant must hold a Current Account or Savings Account with the Bank.
• The instrument is non-committal.
• The decision to lend is based on the Bank’s Risk Asset Acceptance Criteria at the time a request is made for a credit facility.
• Refer to tariff guide for other charges, fees and commission payable.