Overdraft

Overdraft protection provided by Kontrakt Bank is a convenient and simple tool for your business.

Kontrakt Bank offers overdraft protection in situations where clients need funds for ongoing operations in excess of the balance on the current account.

The basic overdraft protection terms at Kontrakt Bank are the following:

• Up to 30% of monthly average turnover without collateral.
• Up to 100% of monthly average turnover against collateral (various options for collateral can be considered).
• No need to reset monthly.
• Fee for consideration of the project – 1% of the established credit limit (lump sum is charged).
• Fee for debiting the account – 0.005% of the amount.
• Loan term – 12 months, overdraft limit is reviewed on a monthly basis.
• Overdraft credit is granted subject to clearance of guarantee of the owner or top manager.

Within three days after the client has filed brief documentation, we provide the client with a preliminary proposal with the terms of overdraft protection.

Take the opportunity to get money quickly for business development!

Overdraft protection can be obtained starting with the first month after the bank account opening. The maximum possible overdraft limit is set on the basis of information on the flow of funds in the client’s accounts in other banks and is adjusted in proportion to the speed with which the client’s money is transferred from the other bank to Kontract Bank during the first month.

Optimize Your own expenses!

In case of debt repayment on the same day, no interest is charged.

Pay on actual basis!

Interest accrues only on the outstanding balance for the actual period of use of funds rather than on the entire overdraft limit.

Work in a convenient way!

Clients of our bank are able to use an overdraft facility on a permanent basis without periodic resetting of the limit.