GENERAL PRODUCTS AND SERVICES
Savings Account
This account allows customers to deposit money, keep it safe, and withdraw funds, all while earning interest.

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.
• Initial deposit of GHS50.00 is required.
• Minimum operating balance of GHS50.00.
• Minimum amount of GHS 5,000.00 per 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 tariffs 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.
• Lodgments/Deposits into the account via cash, cheques or transfers.
• Withdrawals can be made by ATM or at the counter via cheques.

Foreign Exchange Account (FEA)

• Our Foreign Exchange Account (FEA) also known as the Forex Account is a current account opened for Individuals and Companies which is funded with foreign currencies generated locally.
• The account can be operated in the three major foreign currencies; United States Dollar (USD $), Great Britain Pound (GBP £) and Euro (EUR €)
• The account is fed with locally generated foreign currencies which can be deposited over the counter or through transfers from local banks or with foreign currency denominated cheques.
• Balances on these accounts do not attract any interest.
• Foreign transfer from these accounts require relevant supporting documentation
• Withdrawals can be made in the same foreign currency the account was opened (subject to availability) or in Ghana Cedis.

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

• have a Current and Savings Account.
• complete the necessary KYC, EKYC, EDD, etc. as may be required.
• Commission apply per tariffs 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 30mins for process errors.

Cash Collection
We also provide cash collections services to customers intended to provide a safe and convenient way to make a 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 in receiving local currency transfers banks in the country based on customer requests. 

Features & Benefits

• Real time payment platform monitored by the Bank of Ghana.
• 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 follow 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 facility is linked to maturity of confirmed instrument but not exceeding 45 days.
• Request up to GHS 1million shall be approved within 48 hours.
• The tenure of facility is same as value date of cheque/instrument but not exceeding 45 days.

Terms & Conditions

• Cheques or bank instruments must be from acceptable and approved counterparty.
• OmniBSIC should be able to confirm authenticity of cheque or bank instrument.
• 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 tariffs 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/certificates shall be discountable only if it is outstanding and has been fully accepted as good for payment within a period of six (6) months from date of issue by a listed or acceptable counterparty.
• 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 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 invoice or certificate.
• Invoice or certificate must be confirmed by business managers.
• Certificate or invoice must be payable within 6 months from 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 tariffs 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 tariffs 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 drawdown 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.
• 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 tariffs 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 is paid by the Bank.
• Refer to the tariffs guide for other applicable charges.
• An 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

• Customer must qualify per the Bank’s Risk Asset Acceptance Criteria.
• Processing Fee of up to 3% or a flat fee of GHS200.00 whichever is higher.
• Prevailing Bank interest rate for term loan or overdraft will apply once the BG crystallizes and is paid by the Bank.
• An 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

• Customer must qualify per the Bank’s Risk Asset Acceptance Criteria.
• Processing Fee of up to 3% or a flat fee of GHS200.00 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 tariffs guide for other applicable charges.
• An 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 GHS200.00 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 tariffs guide for other applicable charges.
• An 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 customer

Features & Benefits

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

Terms & Conditions

• Applicant must hold a Current Account or Savings Account with the Bank.
• 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 tariffs guide for other charges, fees and commission payable.