United Bulgarian Bank

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Overdraft

What is overdraft?

Flexible form of BGN loan that gives UBB debit card or current account holders the right to exceed their card/current account balance up to a certain preliminarily negotiated limit.

Choose between three modifications of the service:

Overdraft, secured by pledge of future receivables - for customers who receive their salaries in accordance with a pay-roll contract between their employer and UBB.
Overdraft, secured by pledge of future receivables – for customers who receive their salaries in accordance with their individual pay-roll contract with UBB.
Overdraft, secured by cash funds, blocked on account with UBB

What are the advantages of the service?

Speed – Simplified and accelerated procedure;
Comfort - Fast and easy draw/payment of sums larger than the available in your account. You buy, when you need to, without waiting to save the necessary sum;
Mobility – You have access to the funds form everywhere at any time via АТМ or POS;
Advantage – You can use the loan in parts. You manage you financial resources easily and effectively. You can use the BGN funds against a pledge of foreign exchange;
Flexibility – You borrow a sum in the amount and for the period in accordance with your needs;

What is the amount of the overdraft?

The amount of the Overdraft depends on the amount of the customer’s salary. For the product with cash deposit collateral the amount depends on the deposit amount.

What is the collateral?

Pledge of future receivables: All proceeds on the Overdraft account.
Pledge of receivable: Cash deposit

How is an Overdraft drawn down and repaid?

Drawdown – currently on card or current account, up to the approved limit.
Repayment – currently by all card/current account proceeds.
Pay off – by ceasing the Overdraft Contract

What are the Overdraft term and interest?
The interest is accrued on the used and unpaid part of the Overdraft, calculated on an annual basis at the end of each month.Additional information on the interest rates for the overdrafts is available in every UBB office.

Overdraft for employees of companies, which have a pay-roll contract with UBB	1-year Overdraft with the possibility of renewal without requirement for full repayment at the end of the year.
Overdraft for customers, who have an individual pay-roll contract with UBB	1-year Overdraft.
Overdraft secured by cash deposit	1-year Overdraft with the possibility of renewal without requirement for full repayment at the end of the year.

Who can use overdraft?

Employees of companies with payroll contract with UBB;
UBB clients, who receive their monthly payroll on a card or current account on the basis of individual payroll contract with UBB;
UBB clients with deposits in BGN, EUR, USD, GBP or CHF

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