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The overdraft facility

The overdraft facility

  • Current account provided with a credit line with permitted debit for an agreed market interest rate most frequently based on prices of 1-month credits on the interbanking market (1-month PRIBOR, LIBOR etc.). This rate is usually updated on monthly basis.
  • Combines the advantages of a current account and a short-term credit
  • The funds are available without restriction as in the current account
  • The interest is similar to that of short-term credits
  • No burden of the negotiation agenda, no cash flow management, no planning of a time structure of short-term credits and liquidity
  • Targets clients with irregular frequency and volume of payment traffic



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