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Cheque Discounting

A comprehensive facility which takes care of your short term liquidity requirement by discounting Post Dated Cheques (PDCs).

Our Cheque Discounting facility offers immediate liquidity access, by discounting the cheques and credits it into your account at the same time.

Cheque discounting product is a revolving funded facility which reduces the company's cash conversion cycle, and improves liquidity among the year.

  • Offered to UAE registered businesses and UAE Nationals
  • Competitive Revolving facility which reduces the company's cash conversion cycle, and improves liquidity.
  • High Facility limits
  • Flexible tenors ranging between 30 days to 120 days for discounting
  • Low Interest rates
  • Low Cheque Discounting Commission per cheque
  • Low Processing Fees

Fees and Charges

 

List of chargesRequirements / Charges
Annual interest rateAs per prevailing rates and policies


Disclaimer

All fees and charges mentioned are subject to change from time to time at the sole discretion of Commercial Bank of Dubai without prior notification. Charges for services not indicated in this List of Fees and Charges are available on request. Additional expenses, e.g. postage, cable, courier, fax, legal fees, etc. will be charged for, where incurred.

Eligibility Criteria

  • Open to all registered business entities operating in the trading, manufacturing, professional or service sectors.
  • Business operating for at least two years, with annual sales turnover of AED 2,000,000 or over.
  • Company’s Length of Business 2 Years or over.
  • Applicants should be between 25-65 years during the finance tenure.

Required Documents

  • National ID or valid passport with UAE residence visa and Emirates ID of all signing authorities and shareholders, if applicable
  • Valid legal and constitutive documents (i.e. Trade License, Certificate of Commercial Registration, Free Zone Certificate of Incorporation, Memorandum of Association, Partnership Agreement) as applicable
  • Power of Attorney or Board Resolution, if applicable
  • Proof of Address
  • Details of Ultimate Beneficial Owners
  • Bank Reference Letter and Company Profile, if applicable

Call us

Within UAE

04 211 2818

Outside UAE

+971 4 211 2818

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