Overdraft – a short-term loan, which enables a borrower to make payments in excess of the balance on current account of the borrower up to the established limit. It is no need to provide the Bank with a request for drawdown of funds. The main difference of overdraft from other loans is that the repayment of overdraft is made out of incoming proceeds to the borrower`s account.
Basic conditions of financing:
Minimum amount: UAH 2 000 000.
Tenor of financing: up to 1 year, but max tenor of permanent outstanding – 30 days.
Currency of financing: UAH.
Interest rate: fixed.
Organization fee: defined individually.
Pricing depends on borrower’s financial standing, deal structure, collateral quality under the deal, financing period, current situation on monetary and financial markets.
Possible collateral (or its combination):
- pledge of fixed assets (property complexes, real estate, equipment, vehicles, agricultural machinery);
- pledge of goods in turnover;
- pledge of property rights under deposits placed in OTP Bank;
- credit repayment guarantee of other bank acceptable for OTP Bank;
- financial surety (corporate guarantee) issued by a company acceptable for OTP Bank;
- financial surety of the borrower`s owners.
New! Welcome Overdraft – it’s an interesting product for new and existing SME customers (national companies with an annual turnover from UAH 1.5 million to UAH 50 million). Welcome overdraft – is a quick and easy way to access short-term financing in OTP Bank and to have possibility to overdraw the current account up to the amount of established limit.