Pearl Overdraft

The Pearl Overdraft is a short term credit facility that provides emergency funding for Pearl customers. It comes under the following categories:

  • Secured Overdraft: The secured overdraft is cash backed with security in form of FDs/TBs/Bonds.
  • Unsecured Overdraft (Salaried): The unsecured overdraft is one that caters to our Pearl Salaried Customers.
  • Unsecured Overdraft(Self-employed): This is an unsecured overdraft for Pearl Self-employed Customers.

To be eligible one must:

  • hold a pearl account
  • have a salary account with salary received for at least 1 month for salaried.
  • have a pearl account with business proceeds through the account for the self-employed.
  • be confirmed with at least 6 months in present employment
  • Have a minimum net salary of UGX 4,000,000

Our Pearl Overdraft comes with the following, respective product features:

To access the Pearl Overdraft, one needs the following basic requirements:

Secured Overdraft:

  • Pearl current account holder
  • Certificate of FD/TB/Bond
  • 1 passport photo
  • Copy of valid identification
  • CRB card
  • Customer consent to place lien on FD/TB

Unsecured Overdraft:

  • Employer’s letter of undertaking
  • 1 passport size photograph
  • A copy of a valid identity card from the work place
  • A copy of employment contract (where applicable)
  • Six months bank statement(where applicable)
  • Two pay slips (where applicable)
  • Credit reference Bureau (CRB) registration card

Secured Over Draft:

  • Maximum amount of 90% of FD or 80% of TB/Bonds
  • Maximum repayment period within tenure of FD/TB/Bond
  • Available in both UGX and USD

Unsecured (salaried) Over Draft:

  • Payment should not exceed 70% of income after loan instalment amount
  • Maximum repayment period of 3 months (Renewable upon request)
  • Available in both UGX and USD
  • Personal loan insurance protection against death/permanent disability.
  • Maximum Over Draft of 20M

Unsecured Over Draft for the self-employed:

  • Maximum PTI of 50% of ascertainable income.
  • Maximum overdraft amount of Ugx 20M.
  • Maximum repayment period of 3 months.
  • Personal loan insurance protection against death/permanent disability.
  • Available in both UGX and USD

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