Overdraft

What will enable to swiftly settle the problem of cash shortage?

Overdraft is provided for covering temporary lack of operating assets of the client by paying for payment documents from his/her current account over factual balance of funds on the account within the frameworks of set limit.

Overdraft can be provided to:

legal entities;
sole proprietors working on the basis of certificate without forming a legal entity.

Terms of provision:

overdraft limit is established for the period up to 12 months;
overdraft tranche period – 29 calendar days;
overdraft limit – up to 40% of net average-monthly credit turnovers;
loan currency - tenge.

Debt repayment on overdraft:

Repayment of Overdraft and Interest is made by the Borrower independently by crediting the proceeds to transit account or by Bank’s acceptance-free writing-off of cash from the Borrower’s accounts with the Bank.

Advantages

Opportunity for the client to use overdraft by providing payment instructions to the bank without signing any additional documents.
When establishing overdraft limit, there is a possibility of revenue accounting, which enables working with trade organizations.

Borrower requirements

cash and settlement servicing period of the borrower in the bank should be not less than 3 months;
stable financial position, ability to repay debt solely by means of current cash proceeds on the borrower’s account from his/her main activity;
absence of overdue loan debt within the last year, prevention of the events of delay within the last 30 calendar days on the obligations before the Bank or other banks and companies executing bank operations;
lack of overdue tax liabilities;
stable financial standing of the borrower (satisfactory indexes of liquidity and profitability of current balance, stable and regular nature of turnovers on settlement accounts);

Collateral

Collateral for obligations on overdraft shall be turnovers on the borrower’s current account.