Flash-overdraft
Current payments, even in case of insufficient funds on the account
Need an overdraft?
Why flash-overdraft in ConcordBank is just for you
- Possible overdraft limit - from 50 000 UAH up to 250 000 UAH.
- No collateral requirement.
- No transaction processing costs (notarial expenses, insurance, etc.).
Requirements to the Client
- Individual entrepreneur, business activity for at least 6 months.
- Absence of current overdue debts on other loans, including those with other banks.
- No bankruptcy proceedings have been initiated against the Client and there is no tax debt.
- Availability of a current account with the Bank or willingness to open a current account with the Bank.
Basic parameters of Flash-Overdraft
| Possible overdraft limit | from UAH 50 000,00 up to UAH 250 000,00 |
| Validity of the overdraft agreement | from 3 to 12 months |
| Zeroing term | up to 90 days |
| Deadline for the transfer of turns to JSC “JSCB “CONCORD” | 2 months (during this period the bank does not revise the overdraft limit) |
| Collateral |
none |
Client general expenses
| Interest rate (per annum) | 28% |
| Overdraft origination fee | none |
| Fee for the provision of each overdraft amount | none |
| Monthly fee | none |
Questions and answers
What is overdraft?
Overdraft this is one of the types of short-term loan within the limit established by the bank, which allows making settlements when the client does not have enough funds in the current account. When a bank lends to a client's current account, an overdraft is provided to pay for settlement documents in the event of a shortage or absence of funds in the client's current account. The Bank deducts funds from the client's account in full, that is, it automatically provides the client with a loan in excess of the balance of funds. Unlike a regular loan, all funds received to the client's account are directed to debt repayment.
What payments can be made using overdraft?
You can use overdraft for any purpose related to the current business activities.
Is it necessary to make separate payments to pay off overdraft?
No, the overdraft is automatically repaid upon receipt of money in the account.
