Surety Bond
Through the surety bond service, BBS Bank may extend finance to an individual for developments on a property whose title is held by a third party provided the person whose names appear on the title deed signs a surety bond.
A Surety Bond is a bond issued by an entity (first party) on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that the obligations are not met by the second party, the third party…
Salary Payments
For an organization to get this service employees must have an account with BBS Bank and the employer must agree to meet a monthly salary charge fee.
This service offers convenience in the sense that all salary payments and or other monthly obligations such as payment of insurance premiums are processed by BBS Bank.
It should be noted that this service is currently not available for permanent and pensionable Government employees.
Requirements
Personal Accounts
Letter of introduction from employer ID/Passports for non citizens.
Utility bill that bears the customer’s residential address or a copy of the lease agreement or a sketch map.
Latest payslip (where there is no payslip, the letter of introduction should state the gross, net and annual amount earned or to be earned by the customer).
minimum opening deposit.
Additional requirements when opening for minors
Birth certificates
Additional documents for non-citizens
Valid…
