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OTP Bank reduces the interest rate on the "Welcoming" overdraft

From September 15, OTP Bank reduces the interest rate for current and new clients on the Welcoming overdraft product from 15.9% to 14.9% per annum. Also OTP Bank revised the conditions for determining the amount of the limit overdraft and simplified the conditions of its opening for new customers.

According to Tetiana Matiiko, Head of Directorate of Corporate Product Development, “the bank listens to the needs and wishes of customers, so a decision was made to reduce the rate and improve the conditions for calculating the amount of the limit. Instead, the quick and easy overdraft procedure, the absence of collateral, surety and commission for registration remained unchanged. "

Welcoming overdraft – a product for new and existing SME clients with annual sales from UAH 1.5 mio to UAH 100 mio. Under this product, customers can receive short-term financing of up to UAH 2.5 mio, for which the client-legal entity has the opportunity to pay more than the balance on the current account.

Among the main advantages of the overdraft Welcoming are the decision to grant a loan within three days, the absence of a commission for setting the overdraft limit, the ability to obtain a loan with new customers to transfer income from another bank, flexibility in reviewing and increasing limits, no collateral and surety.

"We consider the Welcoming overdraft not as a classic working capital financing, but as an additional service for our customers within the settlement and cash service, which will always solve the issue of timeliness of settlements in case of insufficient funds," said T. Matiiko.

Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.

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