Sierra Leone

Import & Export Finance

  • Sierra Leone
  • SME Banking
  • Import & Export Finance

The Bank is directly involved by assisting the customer with the much-needed finance for the importation and exportation of goods after ensuring that all documents pertaining to this process are vetted and considered complete. These documents serve as proof of the transactions and can be used as collateral to secure the loan. The Bank offers a variety of import/export financing namely; Letters of Credit, and Swift Transfer Services.

Security:

  • Tangible Collateral security (Landed Property)
  • Consignment of the Goods to the Bank
  • Warehouse Collateral Agreement
  • Letters Of Credit

    Features and Requirements:

    • Request/Application Letter
    • Agreement with Supplier
    • Satisfactorily maintained Current Account (min 6 months)
    • Products to be financed
    • Warehousing condition
    • Security/Collateral
    • Minimum contribution (30%)
    • Type of L/Cs (Confirmed/Unconfirmed)
    • Details of Beneficiary Bank.
  • Fixed Deposit Account

    The Fixed Deposit Account is meant for Individuals as well as Corporate Entities who have idle funds that can be invested in order to yield higher returns. Do you wish to earn highest interests on your savings? Do you want to save towards future projects? Do you want to know in advance how much your money could earn in 3 months – 1 year?

    If Yes, NOW is the time to open a Fixed Deposit Account and enjoy Flexibility, Security and High Returns.

    What you'll need:

    • Application letter stating intention, tenure and amount to invest
    • Must be an account holder of the bank
    • National ID/Passport/Driver’s License/Voter’s ID

    Features and Benefits:

    • Premature disinvestment attracts 10% penalty on the accrued interest
    • Possibility of Roll Over of principal amount and interest upon maturity
    • Choose the tenure that best suits your needs; 90 days, 180 days or 365 days
    • On Maturity, 15% withholding Tax on Accrued Interest is levied and paid to NRA.
    • Certificate of Fixed Deposit to use as Collateral against Credit Facilities
    • Minimum investment amount is Le50M
  • Treasury Bills

    These are government bonds that the Bank buys on behalf of the customers:

    What you'll need:

    • Must be an account holder of the bank
    • The Bank issued out Forms to the customer stating intention, tenure and amount to invest for the purchase of the Treasury Bills
    • National ID/Passport/Driver’s License/Voter’s ID

    Features and Benefits:

    • The Bank bids on behalf of the customer
    • Customer’s account should be funded before purchase is made
    • Possibility of Roll Over of principal amount and interest upon maturity
    • Choose the tenure that best suits your needs; 90 days, 180 days or 365 days
    • On Maturity, 15% withholding Tax on Accrued Interest is levied and paid to NRA
    • Minimum investment amount is Le50M
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