Business Current Account
Our business current account is categorised into 4 segments, and the main distinguishing feature is the entity’s annual turnover.
The 4 segments are:
| SME Current Account Examples; Small and medium companies including start ups or less than P10million |
Annual Turnover P0- P10 million |
| Business Banking Current Account Examples: PTY LTDs and partnerships with a turnover between P10 and P100,000 |
Annual Turnover P10- P100 Million |
| Corporate Banking Examples; Large parastatals, large private companies, Government entities with a turnover of P100million or more |
Annual Turnover P100 million and above |
| Non-Profit Current Account. Examples; NGOs, churches, societies and social clubs |
Annual Turnover P0 and greater |
Requirements:
• Company Documentation & Profile
• Directors Identity Cards/Passports
• Proof of Shareholding
• Proof of Income
• 5-Year Cashflow Forecast
• Proof of Address(any legal document bearing the address such as BURS statement, Title Deed, Utility Bill).
Lending Facilities
Section A: Product Features
The proposed product features are as follows:
| Product Feature | Description |
|---|---|
| Amount | Minimum – BWP 50,000.00 Maximum – 7.5% of BBS Bank un-impaired capital |
| Term | 6 Months – 120 Months |
| Target Market | SME, Business and Corporate companies |
| Security on offer | The decision to have a term loan secured or unsecured is dependent on the financial strength of the entity being assessed however when the following security classes will be considered as security, • Government guarantee • Movable property (Plant and Machinery) • Immovable property and Cession |
| Interest Rates | Negotiable |
| Repayment | Negotiable |
| Fees | 1.10 % of loan amount + VAT |
Section B: Channels
The service will be made available on the distribution channels:
1. All Branches
2. Business Banking Unit
Purchase Order Financing
Section A: Product Features
The proposed product features are as follows:
| Product Features | Description |
|---|---|
| Target Market | • Businesses (excluding start-ups) • Corporates • Mining Companies • Government Entities – central and local government • Parastatals |
| Loan Tenor | Minimum term 30 Days Maximum term 120 Days A grace period of 2 months will be accorded to in case of delays on payment/supplier issues. |
| Loan to Value of the Purchase Order | 85% |
| Interest Rate |
Prime + (10% - 20%) • Based on the risk profile of the issuing company/entity issuing the tender. |
| Loan Administration Fee | 1.50%+VAT recovered from the loan. |
| Security on Offer | • Deed of Cession by the issuer of Order • Unlimited Suretyship |
Section B : Channels
The service will be made available on the following distribution channels:
1. All Branches
2. Business Banking Unit
Business Call Account
Section A: Product Features
The proposed product features are as follows:
| Product Overview | Key Features & Terms |
|---|---|
| Target Market | • SME • Business • Corporate Companies |
| Minimum Balance | Minimum balance = P1,000.00 |
| Maximum Balance | Unlimited deposit balance - there is no ceiling to the amount that can be invested |
| Interest Rate | Account balances are structured in tiers. Each tier offers a corresponding interest rate to account balance. 0.10% - 1,000 - 9,000 0.25% - 9,001 - 25,000 0.50% - 25,001-100,000 0.75% -100,001 - 500,000 1.10% - 500,001 - 1 Mio Above 1 Mio - Negotiable |
| Transfers | Funds can be accessed on demand, through a written instruction to the Branch or relationship manager. By linking a Call Account to the BBS Nomad Banking, funds can be transferred via Cell phone Banking or Internet Banking. Automatic sweep from call to current and vice versa. |
Section B: Channels
The service will be made available on digital channels and the following distribution channels:
1. Digital Banking Channels
2. All Branches
3. Business Banking Unit
