Questions fréquentes

Advance on pledged invetory

What is the repayment period for an Advance on pledged inventories?

Repayment is limited to a maximum of 3 months

Will the Bank agree to give me an Advance on pledged inventories if my stock is stored in a remote location?


Are there restrictions on the kind of inventories pledged?

Yes. e.g.: Perishable produce

Can I extend repayment of an Advance on Pledged Inventory

YES but on a case-by-case basis.

How are repayments made for an Advance on Seasonal Inventories?

The repayment schedule is defined with the customer based on their sales forecast or even orders. It can be replaced by documentary credits or assignment of foreign receivables from exports.

Authorized overdraft

Do I have to repay the overdraft with a single payment?

An Authorized Overdraft is repaid with a single payment when the expected funds arrive.

What is the minimum amount I can receive under an authorized overdraft?

The amount is determined according to your needs but still on a case-by-case basis.

What are the conditions on getting an Authorized Overdraft?

To have had a BNI current account for at least 6 months.

Is the time period for an Authorized Overdraft negotiable?

If there is any repayment issue, contact as soon as possible your account manager who will advise you on what steps to take

When should I opt for an Authorized Overdraft instead of a Cashflow Facility?

An Authorized Overdraft lets you put your account in debt for a short period, pending the arrival of specific funds, e.g. an Invoice

Backed leasing

Who can be a sub-tenant in a backed lease?

Any natural or legal person with a BNI account.

What is Employer-backed leasing?

This leasing enables a wage-earner to rent equipment under a lease with the option of becoming the owner at the end of the agreement.

Qu’est-ce qu’un Leasing adossé Fournisseur?

Le leasing permet de vendre au comptant son matériel et de le reprendre dans le cadre d’une opération de leasing en vue de le sous-louer à son client (sous locataire) avec possibilité de devenir propriétaire.

What is backed leasing?

Backed leasing is an agreement whereby BNI leases an asset to a loan taker, who in turn leases it to another person (sub-tenant).

Do the lease and the sublease contracts always have to be for the same length of time?

The lease is not necessarily the same length as the subletting agreement.


What packages are available?

The rate for professionals and business is the PRO PACKAGE.

What should I do if my phone number changes?

If you change your phone number, you should notify your account manager as soon as possible

What is ELIOSMS?

ELIOSMS gives you information about your account via text messages on your mobile phone.

Can ELIOSMS cover multiple accounts at the same time?

An ELIOSMS contract is valid for one account and one phone number.

Campaign loan

How is the amount of a campaign loan determined?

The amount of the loan is based on forecasts from the company which will draw up a cashflow plan, taking stock of income and expenditure month by month, to determine the negative cashflow balance. How it is used depends on the campaign plan.

Will I be asked for guarantees ?

The guarantees to be provided are defined on a case-by-case basis

In which case should I opt for a Campaign loan?

A campaign loan is used for seasonal business activity e.g.: the letchi season

How do I repay a campaign loan?

Repayment depends on your repayment schedule.

How is the amount of a campaign loan determined?

The amount of the loan is based on forecasts from the company which will draw up a cashflow plan, taking stock of income and expenditure month by month, to determine the negative cashflow balance. How it is used depends on the campaign plan.

Cash advance on offset rights

Is there a limit on the amount of the Advance?

The maximum amount is set on a case-by-case basis

Who can certify offset rights?

A certificate attesting offset rights can be provided by project managers of a public or private contract.

What is an Advance on offset rights?

An Advance on offset rights is a short-term loan granted on producing a certificate of rights established to compensate for delay in the actual settlement of a public or private contract.

Can I repay in installments?


When do I have to repay an Advance on offset rights?

Repayment must be made as soon as the invoice is paid by the project manager, in a single payment and at the latest within 6 months from release of the Advance.

Cash flow facility

Am I free to choose the amount I want under a cashflow facility?

The amount of a Cashflow Facility is determined on a case-by-case basis, after a preliminary study carried out by the Bank.

What do I need to do to get a Cashflow Facility?

To apply for a Cashflow Facility, you can contact your account manager with the application and required supporting documents

What are the criteria to qualify for a Cashflow Facility?

Customers can get a Cashflow Facility if they have had a current account for over 6 months, with regular transactions on the account

Can I get a Cashflow Facility if I am still paying off a loan?

YES but on a case-by-case basis

Classic leasing

Is there a limit on the amount?

Minimum amount: 10,000,000 MGA excl. tax;

Maximum amount: Depending on the customer’s ability to repay

What types of equipment can I lease?

The BNI lease concerns movable assets.

What is the term of a lease?

A leasing agreement can last from 12 to 60 months.

What is Leasing

Conventional leasing is a lease on an asset with an opportunity to become the owner at the end of the agreement by taking up the purchase option

How are rents collected?


Commercial discount loan

Is there a limit on the amount of the discounted draft?

There is no set limit, each customer is studied on a case-by-case basis.

Commercial discount loan What are the conditions to qualify for a loan on commercial bills?

To have had a BNI current account for at least 6 months.

Can I cancel a draft that has already been discounted before it expires?


Will the Bank agree to discount a draft close to its maturity date?

Yes. Bank charges are calculated for a minimum of 10 days on local bills and for 20 days on off-site bills.

Will the bank agree to discount my bills even if my client does not have an account there?

Yes, but the bank reserves the right to ask the customer for business information.


Can a company apply for several CORPORATE cards?

YES according to the customer’s needs

What types of corporate cards are available?


Who can benefit from the different types of insurance included in the CORPORATE card?

Only the card holder is covered by the insurance.

Can the CORPORATE Card be used by different people in the Company?

Yes, however, it is advisable that the card be used by the holder, i.e. the person in whose name the card was taken out.


Are there any precautions taken regarding current account confidentiality, given the multiple corporate card users in the company?

Yes: unable to check the balance, edit a mini-statement, order a chequebook and make transfers


What are the fees to pay on a Corporate Savings Account ?

None. No charge will be made for debits and/or credits to a Corporate Savings Account.

What are the terms & conditions for opening a corporate savings account ?

To open a Corporate Savings Account, you must have a BNI-MADAGASCAR current account. The deposit and minimum balance is 50,000,000 MGA.

Are my savings frozen ?

No. You may withdraw your Savings at any time with the interest thereon.

Are there any fees charged to my current account as part of my Corporate Savings Account ?

No. No charge will be levied when debiting a company’s current account to credit a company’s savings account.

When is the interest paid ?

The interest is paid into the account at the end of each calendar quarter

Current account

Can I use my current account for personal transactions?

The interest of a professional bank account is to separate managing your business from your personal accounts.

Why should I open a current account for my business?

A professional bank account keeps your business management separate from your personal accounts.

Can I open a BNI current account if I have a personal account in another bank?


Where do I apply to open a current account?

To open your current account, you can go to the reception desk of the nearest BNI branch. You will be directed to your account manager who will help you with the paperwork.

When can I open a current account for my business?

When you have a receipt for your application to the Trade Register


Can I pay my supplier by bank transfer via ELIONET?


What is ELIONET?

ELIONET is an online remote management tool giving you 24/7 access to your current accounts

Can I access ELIONET and make transactions from abroad ?


How do I transfer money to BNI accounts ?

Customers can enter BNI beneficiaries directly in their ELIONET profile.

How can I transfer money to another bank?

A transfer to another bank requires the BNI to enter the beneficiaries beforehand. To do this, you have to give a list of beneficiaries to your account manager.


What are the numbers to call?

Telma : 22 611 86 / Orange : 032 07 611 86 / Airtel : 033 12 302 93

What services are available via ELIOPHONE?

Check account balances (Standby value), Check the month’s latest transactions on the account (last 5 transactions), Order a chequebook, Transfer money between MGA accounts (same root sign, same holder).


ELIOPHONE is a call system giving you 24/7 access to your BNI MADAGASCAR accounts via a landline or mobile phone.

Is there a charge for ELIOPHONE calls?

The customer pays the cost of the call

Can I order a transaction via ELIOPHONE?

Subscribers can transfer money between accounts (from an account to a sub-account)


Who should I contact if it breaks down?

You will be given the contact details when you subscribe.

Who can make a card payment on BNI MADAGASCAR EPTs?

Any holder of a local and international VISA card and MASTERCARD.

What is an EPT?

An EPT is an electronic payment terminal for receiving payments by VISA or MASTERCARD bank cards.

Do BNI MADAGASCAR EPTs take payments in foreign currencies?

Only in Euros. A specific setting is required for any customer wanting to take Euro transactions

How do I get an EPT?

To buy an EPT, you can see your account manager who will advise you and assist you with the formalities. EPTs are also available as a rental option.

Foreign Currency PRO

Which foreign currencies are accepted by BNI MADAGASCAR?

US Dollar, Canadian Dollar, British Pound, Swiss Franc, Euro.

What are the conditions for opening a foreign currency account?

Any business with a BNI current account may apply for a foreign currency account.

Can I withdraw cash from my foreign currency account on a trip abroad?

The means of payment accepted on a foreign currency account are cash payments, transfers and travellers’ cheques.

Does my foreign currency account have to be in the same branch as my current account?


How are the bank charges on my foreign currency paid?

The bank charges on your foreign currency account are paid in Ariary from the current account to which it is connected.


What is the contract irrevocability period?

Half the term of the contract

What are the guarantees and undertakings required for a lease-back?

Compulsory all risk insurance of the equipment (May be included in the rent); Obligation on the part of the loan taker to upkeep and maintain the equipment

What is a lease-back?

Lease-Back is an operation that enables a business possessing an asset to transfer it to the BNI and then rent it back under a leasing agreement

Is it possible to make a prepayment?

Yes, with a 3% commission on the outstanding principal

Can used equipment be leased back?


Long-term rental

What services are included in the rent?

Services included in the rent are: All-risk insurance, Geo-location, Maintenance, Upkeep and repairs, Supply of a replacement vehicle if it is immobilized for repairs, Assistance.

What types of vehicles can I purchase a Long-Term Rental for?

Various types of vehicles are available from the catalogue of the LOXEA dealer, who is the Bank’s long-term rental partner.

How long is the rental period?

Rental can range from 24 to 60 months.

What are the conditions for long-term rental?

For Long-Term Rental, you need to have been a BNI Corporate Client for at least 1 year.

Can I buy the vehicle at the end of the lease?

No, the vehicle must be returned to the LOXEA dealer or the Bank.


If I want to change my PRO PACK into a BUSINESS PACK, will there be a charge?

Changing the PACK does not involve any charges

What are the advantages of opening a PACK?

A PACK gives you several low-priced banking products and services, with a single monthly bill.

Can I cancel my PACK and keep my current account?

Yes, terminating the PACK does not require you to close your BNI account.

Can I ask for services that do not interest me to be dropped from the PACK?

No. The PACK contents cannot be changed. You can choose between the PRO PACK and the BUSINESS PACK according to your needs.

I already have a BNI current account, what should I do to subscribe to a PACK?

To subscribe to a PACK, contact your account manager who will have you sign the relevant contract.

Redeemable overdraft

What do I need to do to get a redeemable overdraft?

For a Redeemable Overdraft you can contact your Account Manager who will advise you and assist you with the paperwork.

What is the difference between an authorized overdraft and a redeemable overdraft?

A redeemable overdraft can be repaid over several months.

Will I be asked for guarantees?

The guarantees to be provided are defined on a case-by-case basis.

When should I opt for a redeemable overdraft instead of an authorized overdraft?

You can choose between an authorized overdraft and a redeemable overdraft depending on whether you want to repay in one go, or several times over several months.

How is the amount of a redeemable overdraft determined?

The amount is determined according to your ability to repay, after your application has been studied


Is there a limit to the amount invested in a savings bond ?

The amount of the investment must be at least 2,000,000 MGA. There is no upper limit.

Who can subscribe to a savings bond ?

Any BNI account holder.

How long is the investment ?

The investment is for 1 to 12 months.

Can I use the savings bond as security ?

Yes, a savings bond can be pledged

What is a savings bond ?

A savings bond is a bond payable at maturity.

Can I subscribe to a savings bond for a period of 2 years ?

The limit for subscribing to a savings bond is 12 months (renewable)

Can you collect the interest on a SB when you subscribe ?

If the term is less than or equal to 2 years, interest may be collected when you subscribe.

How is the rate set ?

The interest rate varies depending on the amount and period of the bond.


How long is the investment ?

The investment period is 1 to 12 months.

What is a Term Deposit ?

A term deposit is an investment account in which the holder cannot use the amount subscribed before expiry of a period determined at the deposit date.

I only have a savings account, can I take out a term deposit ?

No, a term deposit requires a current account.

Can I receive an advance on a Term Deposit?

The Bank agrees to make an advance payment before the investment matures, with a penalty in the form of a reduced interest rate.

Can I use my term deposit as collateral ?

Yes, a Term Deposit is collateralized.

In an emergency, am I allowed to withdraw the money I invested in a TD before the due date ?

You can get an advance on the investment.

How is a Term Deposit repaid?

It is repaid at maturity by an automatic transfer to the subscriber’s current account. Repayment consists of the capital and the interest, net of income tax.


What are the taxes to pay on TRADENET?

Payment for the GASYNET service and Payment of customs duties and taxes.

Who can use TRADENET?

Customers who import and/or export – Freight forwarders.

What do I need to do to subscribe to TRADENET services?

To subscribe to Tradenet services, you can contact your account manager and sign the authorization form


TRADENET is a GASY NET interface between Customs, Freight forwarders, Ports, Airports, MICTSL Container Transport Company, Shipping Companies, Primary Banks, the Madagascar Central Bank, the Treasury. The goal of this new automatic payment system on TRADENET is to facilitate procedures and processing of credit transfer orders issued by customers in connection with paying duties, taxes and commissions on import or export transactions.

Is there a charge for accessing TRADENET?

The service is free, but there is a charge for transactions.