The Savings Account (LCY) is a high-interest savings account designed for individuals looking to save for future needs while enjoying competitive interest rates and convenient banking features.

Features & Benefits

Daily Interest Accrual.
E-Banking Access
Optional Electronic Cards

Terms & Conditions

An initial deposit of GH¢50.00 is required
A minimum operating balance of GH¢20.00
An E-Banking Bundle Fee
Two passport-sized pictures
Digital address of residence
A copy of a Utility bill

Our Current Account is a versatile non-interest bearing account designed specifically for individuals seeking a reliable banking solution. This account facilitates daily transactions with ease and convenience, allowing customers to manage their finances effectively.

Features & Benefits

Access to E-Banking Bouquet (SMS Alerts, Mobile Banking, E-Alerts & E-Statements, ATM & Electronic Cards ).
Access to Cheque Book
Email and Phone Indemnity (Optional):

Requirements

An initial deposit of GHS 50.00 is required to activate your account.
No minimum operating balance required
A valid national ID (Passport, Ghana Card) for the signatory of the account.
Two passport-sized photos of the account signatory.
A digital address for your residence.
A utility bill to confirm your place of residence.

Our Cash Backed Loan facility is a quick financing solution secured by cash deposits or fixed investments. This facility allows customers to leverage their cash held in OmniBSIC Bank as collateral, providing them with immediate access to funds while maintaining the security of their investments.

Features & Benefits

Easy Access to Funds
Borrowers can secure a loan amounting to up to 90% of their cash deposits. This high loan-to-value ratio allows customers to maximize their borrowing potential without losing access to their savings.
The loan is available for a tenure of up to 60 months, offering flexible repayment options tailored to the borrower’s financial situation.
The proposed lending rate is set at least 5% above the interest rate being paid on the deposits held by the bank, ensuring that the costs remain reasonable while providing fair returns on the deposits.
A simplified loan process requiring a cash deposit or fixed deposit held with us.

Requirements

Cash (CASA Deposit or Fixed Deposit) must be held with OmniBSIC Bank to qualify for the loan.
The total amount granted, including Principal, 30 days of Interest, and Fees, must not exceed 90% of the cash held.
The proposed lending rate will be at least 5% above the effective cost of funds (interest rate) being paid on the cash deposit held by the bank.
A processing fee of up to 2.5% will be charged, deducted from the loan amount upon approval.
Customers should refer to the tariffs guide for additional charges, fees, and commissions applicable to the Cash Backed Loan.

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

Deposits 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.

Through Automated Clearing House (ACH), we offer customers a platform for effecting local currency transfer from one bank to the other on client request such as:

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.

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.

Features & Benefits

Variety of Collection Services
Provides secure transit for cash deposits, minimizing the risk associated with transporting cash.
A minimum cash collection amount of GHS 5,000.00 ensures efficiency in service delivery.
Service is available for clients located within a minimum distance of 5 km from the bank, facilitating ease of access.

Requirements

Customers must have an active Current or Savings Account to utilize the Cash Collection service.
Completion of necessary KYC, EKYC, EDD, and related documentation 1s required by the bank.
Customers must apply and A signed a cash collection agreement to initiate the service.
Agreed service charges will apply after the collection is completed.

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.

Our Receivable Finance is a working capital solution designed to provide immediate cash flow by purchasing debt owed to a business by approved counterparties. This facility helps businesses unlock cash from their outstanding invoices, allowing them to meet operational needs efficiently.

Features & Benefits

Quick access to funds requests up to GHS 1 million, with approvals typically granted within 48 hours ensuring rapid access to working capital.
This facility is available for a standard tenure of up to 90 days, with exceptional cases eligible for an extension of up to 150 days, accommodating various business cash flow cycles.
Invoices or certificates are discountable only if they are outstanding and have been fully accepted as valid for payment by an approved counterparty within six months from the date of issuance.
This product is structured to minimize risk by requiring adequate tangible security, assessed at a minimum of 120% of the Open Market Value, in line with the bank's collateral standards.

Requirements

Acceptable Counterparties.
Invoice Verification:
The invoice or certificate must receive confirmation from business managers before it can be discounted.
Invoices or certificates must be payable within six months from the date of issue to qualify for the facility.
A tripartite domiciliation agreement or an enforceable letter of undertaking must be in place among the customer, the bank, and the counterparty.
Arrears Management

Term Loans are structured credit facilities designed to provide fixed asset and working capital support for small, medium, and corporate businesses. This financing option helps businesses acquire essential assets or manage cash flow needs effectively.

Features & Benefits

Access loans starting from GHS 50,000.00, catering to various business financing needs.
Flexible Repayment Structures
Timely Offer Letters.
Competitive Interest Rates
Flexible credit structuring
Requirements

Processing Fee of up to 3.5%
A default charge of 10% per annum applies to any overdue balance of principal and interest.
The interest rate is set at GRR + up to 15%, ensuring a competitive borrowing cost.
Borrowers must maintain an open current account
Completed credit application forms.
Minimum 6 months of bank statements.
Investment Plan
Financial Documentation:
BProposed Security/Collateral:

Our overdrafts are structured credit facilities that allow businesses to overdraw their current accounts within an approved limit to meet short-term working capital needs. This flexible financing facility enables businesses to access additional funds on demand, providing a financial safety net to manage cash flow fluctuations effectively.

Features & Benefits

Up to 12 months Overdraft facilities providing businesses with a substantial time frame to manage their cash flow.
Competitive interest rates.

Requirements

Renewal Policy
PProcessing Fee
A processing fee of up to 3.5% may apply to the overdraft facility.
A default charge of 10% per annum applies to any overdue balance of principal and interest, encouraging timely repayments.
An early repayment penalty of 0.25% of the outstanding balance will be charged if the overdraft is repaid before the agreed-upon terms.
An interest rate is set at GRR + up to 15%, ensuring a competitive cost of borrowing.
A borrower must maintain an open current account with the Bank.
Completed credit application forms are required for processing.
A board resolution authorizing the overdraft must be provided.
A minimum of 6 months of bank statements must be submitted to assess cash flow and financial stability.
An investment plan showing the intended use of the overdraft funds must be provided. The bank can assist in the creation of this plan if needed.
Financial statements for at least one year are required, with audited statements needed for corporate clients.
A cash flow statement reflecting one year of historical data and a minimum of one year projected must be submitted.
Adequate security or collateral must be proposed to secure the overdraft facility.
Valid business registration documents must be provided as part of the application process.
Customers should consult the tariffs guide for additional charges, fees, and commissions applicable to the overdraft facility.

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.

Ghana Interbank Settlement System (GIS) is a vital electronic payment platform utilized by banks to facilitate local currency transfers between financial institutions based on client requests or bank-induced instructions. This system enables real-time processing of transactions, ensuring that funds are transferred and settled promptly across the banking network.

Features & Benefits

Real-Time Payment Processing
Convenient Fund Transfers.

Requirements

Customers must maintain an active Current or Savings Account to access GIS services.
Must complete the necessary KYC, EKYC, EDD, etc. as may be required.Completion of necessary KYC, EKYC, EDD, and related documentation as required by the bank.

Our Bank Guarantee is a financial instrument issued on behalf of the customer(s), serving as a promise to a beneficiary (such as a third party or contract employer).

Features & Benefits

The tenure of the Bank Guarantee is determined based on the underlying contract, agreement, or offer, providing flexibility to align with specific project timelines or contractual obligations.
Customers must qualify under the Bank’s Risk Asset Acceptance Criteria to be eligible for a Bank Guarantee.
A processing fee of up to 3.5% of the guaranteed amount will be charged upon issuance of the BG.
A quarterly commission of up to 3% may be applicable for the duration of the guarantee.
Interest Rate is applicable if the amount is paid by the bank.
Customers should refer to the tariffs guide for any additional charges, fees, and commissions that may apply to the Bank Guarantee.
Acceptable collateral, in accordance with the Bank’s collateral standards, must be provided to secure the Bank Guarantee.

Our mobile banking app offers a full range of banking services tailored to your lifestyle. With a sleek, user-friendly interface, it enables you to manage your accounts, make payments, transfer funds, track your spending, and much more – all from your smartphone.

Features & Benefits

Instant Payments:
Bill Payments
Enhanced Security
Personal Financial Management

Our Advance Payment Guarantee (APG) serves as a risk mitigation tool, fostering trust in contractual relationships. It further assures the Contract Employer or Buyer that any advance payments made to a contractor or supplier will be returned in full if the contractor or supplier fails to fulfil their contractual obligations under the terms of the APG.

Features & Benefits

The tenure of the Advance Payment Guarantee is determined based on the underlying contract, agreement, or offer, allowing for alignment with project timelines and obligations

Requirements

Customers must meet the Bank’s Risk Asset Acceptance Criteria to be eligible for the Advance Payment Guarantee.
A processing fee applies, which is either up to 3% of the guarantee amount or a flat fee of GHS 500.00, whichever is higher.
Should the Advance Payment Guarantee crystallize (i.e., the bank has to pay out the guarantee), the prevailing bank interest rate for term loans or overdrafts will apply to the amount paid by the bank.
Customers should refer to the tariffs guide for additional charges, fees, and commissions that may apply to the Advance Payment Guarantee.
Acceptable collateral must be provided based on the Bank’s collateral standards to secure the Advance Payment Guarantee.
All other applicable charges, fees, and commissions related to the Advance Payment Guarantee can be found in the tariffs guide.

This is a financial instrument issued by OmniBSIC Bank to the Contract Employer or Buyer on behalf of its customers, typically contractors or suppliers. This guarantee ensures that the contractor or supplier will rectify any contract defects identified during the liability period, even after the retention amount has been released in advance at the request of the contractor or supplier. It serves as a safeguard for the contract employer against potential defects or non-compliance in project execution.

Features & Benefits

The Retention Guarantee lasts as long as the underlying contract, agreement, or offer requires. This allows flexibility to match the length of the contractual obligations.

Requirements

Customers must qualify according to the Bank’s Risk Asset Acceptance Criteria to be eligible for the Retention Guarantee.
A processing fee of up to 3% of the guarantee amount or a flat fee of GHS 500.00, whichever is higher, is applicable.
If the Retention Guarantee is triggered, the bank will pay out the guarantee. The interest rate on term loans or overdrafts will apply to the amount the bank pays.
Customers should refer to the tariffs guide for other applicable charges, fees, and commissions associated with the Retention Guarantee.
Acceptable collateral must be provided in accordance with the Bank’s collateral standards to secure the Retention Guarantee.
Customers are advised to refer to the tariffs guide for all other charges, fees, and commissions that may apply.