Credit Line in Bank Account means a credit limit in the corporate account for additional working capital issued with up to 1 year's maturity.
Credit Line in Bank Account may be used by enterprises which execute settlements via the Bank accounts.
The amount of the Credit Line in Bank Account is unlimited and depends on the inflows to the Bank account and the customer's financial abilities to repay it, as well as on the market value of credit security.
Credit Line in Bank Account is issued with the fixed interest rate only.
The interest of the issued credit shall be calculated on the drawn and outstanding credit balance and subject to monthly payment.
The Borrower of the Credit Line in Bank Account is entitled to draw and repay credits from time to time in accordance with the procedure for repayment of the credit limit. Upon maturity of the credit limit the borrower shall repay to the Bank all the credits drawn. The credit shall be repaid in the same currency as it was issued.
Credit securities:
- Pledge on property:
- Money deposits placed with the Bank in the same currency as the credit;
- RoL Government securities (in the same currency as the credit) which are recorded by the Investment Banking Department in the Bank's procedure;
- Immovable property with land plots, agricultural land;
- Movable property (equipment, farming machinery, vehicles);
- Additional acceptable security:
- Indemnity by a private person or enterprise, institution or organisation;
- Guarantee by the Bank, institution or organisation;
- Proceeds in the customer bank account.
