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Overdraft

Our Bank offers an overdraft facility that may be used to finance current needs resulting from business operations. This type of credit enables enterprises to maintain liquidity and to conveniently settle accounts with their business partners, in particular in the case of a time gap between dates of expenditure and fo income receipt.

Who can apply for an overdraft limit

• Enterprises with registered offices in Poland that are not required to apply the accounting principles defined in the Accounting Act,
• Enterprises with registered offices in Poland that are required to apply the accounting principles defined in the Accounting Act,
• Self-employed professionals

Features of the overdraft facility

• Minimum overdraft limit: PLZ 100,000 or equivalent in another currency,
• Maximum overdraft limit: not defined, the overdraft limit granted by the Bank is conditional on:
  • average monthly volume of operations in the bank account,
  • average monthly income from sales.
• Currency: PLN, EUR, USD and CHF,
• Credit repayment period: up to 1 year,
• Interest: fixed or floating, based on market rates - WIBOR/LIBOR/EURIBOR 1M, 3M
• Interest repayment: on a monthly basis,
• Principal amount repayment: in whole at the end of the credit repayment period,
• Early repayment: acceptable at any time.

Collateral

The Bank applies the following types of collateral for overdraft facilities:

• a declaration of submission to the enforced debt collection procedure as defined in the Banking Act,
• blank promissory notes,
• irrevocable authorisation for the Bank to use deposits in the current account held at the Bank,
• other collateral types acceptable to the Bank.

Special crediting conditions for professionals

Individuals who have practised one of the following professions for at least 3 years:

• legal adviser,
• attorney at law,
• notary public,
• self-employed medicine doctors with the specialisation, conducting private practice,
• self-employed dentist - are offered an overdraft limit determined on the basis of the value of property owned by them,
• Architects, conducting their own design offices,
• Tax advisors, with their own accounting office.

The maximum overdraft limit, calculated upon consideration of the value of property, may reach PLZ 100,000. The credit may be granted for 3 years (CHF for 1 year only) with the limitlowered monthly with a fixed amount. This credit facility is made available on condition that the Bank is given collateral being first mortgage on property or a lien on liquid assets.