Overdraft
Overdraft enables your company to overdraw the current account up to the agreed credit limit. Interest is calculated on the outstanding credit, limit fee is calculated on the unused part of the credit limit.
Intraday overdraft enables your company to use the agreed credit limit within a banking day. The used credit amount must be repaid by the end of the same day. Intraday overdraft can be used for example when incoming payments are expected to arrive later on during the day, but outgoing payments should be made earlier.
Standard terms and conditions
Overdraft limit: starting from EUR 1,000,000 (the maximum limit will depend primarily on the monthly turnover of the company)
Overdraft term: 1 year
Security: a mortgage or commercial pledge; a guarantee issued by KredEx or the Estonian Rural Development Foundation may serve as additional security
Documents necessary for an overdraft application
- an audited annual report for the previous financial year
- a balance sheet and income statement as of the end of the last quarter
- in the case of a real estate collateral, a valuation report of the real estate