Overdraft is a credit product offered to corporate customers for short-term financing of working capital (payments).
Overdraft enables the customer to perform transactions in the amount exceeding the current account balance. These transactions are enabled through overdraft limit. PASHA Bank provided by PASHA Bank.
Overdraft is very convenient credit product for prompt satisfaction of urgent short-term needs of customer, as it enables the customers to use additional funds in order to timely perform obligations to business partners.
Advantages of overdraft
- Possibility to use more funds than available in the current account;
- Possibility to use of overdraft limit regularly in whole or partially throughout the duration of the contract after signing the documents only once;
- The Interest rate is applied only on used amount of overdraft limit.
Main terms of overdraft
|Overdraft limit||Based on agreement with the customer accortding to the turnover on his current accounts.|
|Currency||On the related account currency|
|Term||Up to appropriate date of every month based on agreement with customer|
|Promotion period||Up to 5 working days|
|Interest rate||Based on agreement|
|Commission for opening an overdraft||Based on agreement|
|Payment method||Write-off from the customer's current account without acceptance as soon as funds are available.|