Overdraft

Overdraft means a method of short-term credit providing for meeting the short-term need for working capital. I.e. a possibility of making the expenses transactions and payments even though there are insufficient funds in the Bank account.

Overdraft Limit is issued with maturity not longer than 12 months. The maximum period for using the Overdraft (a period from the occurrence of the negative balance in the customer's account to the full coverage thereof) shall be 30 calendar days;

Upon using Overdraft the company does not get limited to the withdrawal and repayment schedule.

The interest shall be paid only for the actually drawn amount of the Overdraft.

It is not required to submit to the Bank a report on the drawn credit.

After having covered the debt the company shall be entitled to start using Overdraft already on the next working day.