Overdraft
Product description
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.
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.
Choice 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
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
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
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.
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Overdraft for employees of companies, which have a pay-roll contract with UBB
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1-year Overdraft with the possibility of renewal without requirement for full repayment at the end of the year.
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Overdraft for customers, who have an individual pay-roll contract with UBB
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1-year Overdraft.
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Overdraft secured by cash deposit
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1-year Overdraft with the possibility of renewal without requirement for full repayment at the end of the year.
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Filled in application form, ID card, income verification document
