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Overdraft on current account

The Overdraft is intended for:

  • corporate entities which do business in the Slovak Republic
  • this loan in foreign currency is above all intended for clients who have sufficient collection in foreign currency in an account held in Komerční banka, a.s., pobočka zahraničnej banky.

Characteristics of the Overdraft:

  • a short-term loan
  • for financing
    • short-term receivables up to their due date in this country and abroad
    • stock
  • the loan is provided in the client’s current (overdraft) account
  • this is a special type of current account for which agreement is made on the possibility of:
    • drawing funds into the red
    • for a certain period of time and up to a certain limit
    • subject to an agreed interest rate and subject to agreed conditions
  • the agreed limit of the debit balance cannot be exceeded
  • the interest rate
    • on the credit balance is announced by the bank
    • on the debit balance is floating and agreed on in the loan contract
  • the client pays interest on the debit balance on a monthly basis
  • the loan can be provided in EUR or selected foreign currencies

Advantages of the Overdraft:

  • enables you to react flexibly to short-term cash flow fluctuations in the company
  • the overdraft can always be drawn on according to your current requirements and then repaid
  • every payment received in the current (overdraft) account decreases the debit balance, and thus renews the possibility of again drawing on the overdraft up to the level of the agreed limit
  • with an overdraft account, you can perform payment transactions and use of the bank services to the same extent as with other current accounts, e.g.:
    • cashless deposits and withdrawals
    • reservation and blocking of funds in the account
    • use of payment cards
    • electronic data transfer or submission of standing orders and automatic transfers

The Overdraft allows you to:

  • repeatedly draw on funds up to the agreed debit level
  • respond flexibly to cash flow fluctuations
  • perform payment transactions like with a current account

How to establish/arrange an Overdraft:

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