Overdraft

Overdraft

Overdraft – a short-term loan attached to the client's current account to make payments withdrawing an amount larger than the actual available balance, within the limits set by the Bank.

To be chosen: 

• to cover temporary cash shortfalls (60 days) – a timing gap between anticipated expenses and receipts;
 to get additional short-term finance to meet the working capital needs and support on-going operations.

Advantages:

Overdraft limit40% of the average monthly net receipts
Minimum feesJust one-time fee paid at the time an overdraft is open
% fixed rate% rate specified in the agreement is not changed during the term of the agreement
Repaid automaticallyAutomatically – from receipts transferred by your counterparties to your current account
Interest is fairThe interest is charged only for the days you use the overdraft and on the amount actually drawn (on the negative balance in the current account, at the end of a day)

Lending terms:

Overdraft limit- maximum of UAH 7.5 million for loans without collateral (only pledge of property rights to funds in the Client's current account)
- maximum of UAH 20 million for loans (with collateral in the form of collateral for real estate/ transport/ equipment).
Ratefixed
Fee0.9% of the maximum limit (not less than UAH 2000), one-time payment
SuretyFrom the holder of a 60% interest in the company
Limit revisionMonthly, based on the net receipts in the current account with Alfa-Bank.
Fully repaidEvery 60 days
Term of agreementUp to 12 months

Please contact a customer service manager of Alfa-Bank to get information about requirements and documents needed to apply for an overdraft

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