personal borrowing


An overdraft is a short-term credit fluctuating facility for individuals that is ideal for emergencies and unforeseen expenses.

What does it give me?

An overdraft provides you with cash for unforeseen expenses.

An overdraft will provide you with immediate access to extra cash for emergencies.

You can use as much of your agreed overdraft limit as and when you need it.

The total agreed limit will always be available to you and is renewable annually.

You only pay interest on the utilized amount of your overdraft in any given month.

There is no monthly repayment required. Your salary must be deposit into your account on a monthly basis.

The bank fees will be provided upon application.

Qualifying criteria

Have a Bank BIC Namibia current account that is older than six months.

Be a Namibian citizen.

Age 21 or over.

Have a clean credit history and risk profile.

Earn a minimum gross monthly salary of at least N$20,000-00.

What do I need to apply?

Visit your nearest Bank BIC Namibia branch with the following documentation:

  • Proof of Income.
  • A valid identity document.
  • Proof of domicile, which may be in a form of a utility bill.

Rates and fees will be provided upon application

Personal Loans

Existing customers can save on monthly repayments to multiple credit providers with only one monthly instalment. Must be permanently or self-employed and have your salary paid directly to your bank account.

What does it offer me?

Flexible repayment terms up to 60 months.

Competitive interest rate.

What do I need to apply?

Latest payslip.

Statement of assets and liabilities.

Account with Bank BIC Namibia with monthly salary income paid to the bank account.

Settlement quote should you wish to consolidate your debt.

Ordinary Home Loans

Bank BIC Namibia Home Loan is offered for the purpose of acquiring, improving or constructing fixed property for residential purposes, against the security of a mortgage bond over the relevant property in favour of the bank.

General Conditions:

Maximum loan repayment period is 20 years, with an option to repay over a shorter period of time.

100% home loans can be considered for first time home owners for Namibian citizens depending on the valuation or the purchase price of the property whichever is the lowest.

Non-Namibian residents to provide a deposit of 50%.

The monthly home loan instalment benchmark is not to exceed 30% of gross salary/joint income.

What do I need to apply?

Your Namibian ID/valid passport.

A detailed income and expenditure statement is to be completed with each home loan application supported by the latest payslip(s), which is to be scrutinised by the relevant credit manager(s) against the applicant’s bank account statements.

Proof of your residential address (i.e. your most recent municipal account, not older than 3 months).

Marriage certificate and Anti-Nuptial Contract (ANC) (if applicable) (if married)/Divorce order together with settlement agreement (if divorced)/Death certificate (if widowed).

Deed of Sale for purchase of the property.

Personal Vehicle and Asset Finance

Vehicle and Asset Finance facility provides short term funding to purchase moveable assets for your personal use. These include motor vehicles, motor cycles, laptops, etc. Competitive and flexible repayment options are offered.

What does it offer me?

Vehicles may be financed up to a maximum of 54 months.

Competitive interest rates apply.

New or used assets may be financed.

A minimum deposit of 10% on all vehicles is required.

Other assets will be financed in accordance with the Amended Credit Agreements Act 75 of 1980. For full details contact your nearest Bank BIC branch.

Qualifying criteria

Any customer who has a bank account with Bank BIC Namibia or any other local bank for longer than six months may apply.

Age 18 or older.

Permanently employed.

How do I apply?

The following documentation is required on application:

  • Proof of income (payslip).
  • Your last consecutive 6 months’ bank statements.
  • Identity document as well as valid driver’s license.
  • Marriage certificate if married supported by ANC if applicable.
  • A quotation from an approved supplier.
  • Personal Balance Sheet to be completed.

Bank Guarantees

A Bank Guarantee is a written undertaking in which the bank agrees to make stipulated payments on your behalf should you fail to fulfil or carry out specified terms of a contract. Guarantees may also be issued for of the purchase of fixed property and against cash cover. Any demands for payment under a guarantee are to be made in writing.

What does it offer me?

Enables you to bid for contracts that call for guarantees and to buy fixed property where a guarantee is usually a prerequisite.

You may avoid paying in advance or lodging cash cover to secure a purchase or contract if cash cover is lodged with the bank under a pledge, you will be paid interest on the investment.

Guarantees may continue for a specified period. Wherever possible a definite or determined expiry date or a clause, specifying a period of notice or withdrawal, is included in the guarantee.

The party in whose favour the guarantee is issued is entitled to specify the wording of the document and must be acceptable to the bank. At your request, we will draft the wording of the document.

Qualifying criteria

Individuals with a registered business registered in Namibia.

Individuals who plan to start a business.

Registered business who was awarded contracts with a reputable Institution.

What do I need to apply?

Copy of purchase contract if applicable.

Copy of performance contract if applicable.

Copy of tender if applicable.

Request to issue Guarantee by Bank.

Financial statement or management accounts.

Cash flow forecast for the term of the facility.

Profit and loss projection for the term of the facility.

Rates and fees: The charges imposed by the bank are risk related and include an establishment fee, a postage fee and risk-related charge payable half yearly in until the guarantee is cancelled.