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OverDraft
Overdraft for Corporate clients
The product overdraft is intendet for corporate clients (existing clients of the Bank), which have requests for financing short term working capital, liquidity requests etc.
| Target group /users |
Minimum active 2 years Clients of the Bank for at least 1 year Companies that are profitable for the last 2 years Minimum annual turnover on the SRB accounts for the last year in amount EUR 60.000 Companies that are A or B classified according the credit registry in Central Bank Clients that don't have more than 1 blockade during the last 6 months for longer than 10 days |
| Description of the product | The product overdraft for corporate is intendet for companies (existing clients of the Bank) which have requests for financial funds for financing short term working capital, liquidity requests etc. The overdraft limit is connected with the corporate customer account and provides:
For the existing clients of the Bank, the overdraft will be pre-approved in amount of the average monthly turnover within the Bank and performed at least 3 debit transactions on a monthly basis in the last 12 months, regardless of the credit lending criteria. With approving of the overdraft, an Amex Gold credit cards is-approved with limit MKD 90.000 without annual membership fee for the first year for the owner/s of the company. |
| Penalty Interest rate |
Is calculated and paid for the amount that exceeds the overdraft limit and for the matured and unpaid amount. *For the loans in MKD, as reference rate is used the national reference interest rate (NRKS) published on NBRM web site under the name "interest ratest for mkd depozits with FX clause". The alignment of the interest rates will be performed on 6 months, on 1st January and on 1st July every year based on the national reference rate valid on 28.06 and 25.12 respectively. |
| Fees / Expenses |
- Draft expenses - Notary expenses (solemnization of the contract) for amounts over MKD 600.000 - Expenses for evaluation of the property |
| Financial criteria |
- Profit for the last 2 years - The total credit exposure (short term and long term) in all banks not to exceed 60% from the total sales revenues - EBITDA to cover the financial costs - Positive equity - Annual decrease of the sales not to exceeds 30% |
| Required documents | According the Credit lending manual for corporate clients - Financial statement for the last 2 years with analytical cards (120, 121, 162, 220, 221, 262) and analytical statement for the latest data in the current year |
| Collateral |
- Draft - solemnization of the contract for limit MKD 120.000 - MKD 1.200.000 - Mortgage - for amount over MKD 1.200.001 |
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