Local Bills & Cheque Discounting

These are ideal for clients who provide credit terms to their buyers / creditors, and who in turn issue them with post-dated cheques or local bills and promissory notes that indicate the term of credit, the amount to be paid and the date of payment.

The customer may require immediate funds to boost their cash flow. The customer may present these cheques, bills or promissory notes to Imperial Bank for discounting.

Once approved, the Bank recovers interest on the discounted bills and charges upfront based on the face value of the bills at affordable rates. The term of the credit is indicated on the bill, and the balance of funds or the net value is credited to the customer’s account with us.

Benefits

• Enables our customer to comfortably provide credit terms to their clients.
• Offers an avenues for finance on restricted cash flows that may result in our customer credit terms to their client