Best way to reconcile income and expenses crediting/debiting your transaction account. The amount of the overdraft depends on the creditworthiness of the legal entity. The term of the overdraft can range from 1 to 12 months. You do not have to utilise the entire authorised overdraft, but only the amount you need. Interest is paid only on the utilised amount of the authorised overdraft, and not on the total authorised amount. Repayment of such overdraft is made from current operations, and no later than at the agreed maturity date.
Short-term loan facilities:
The two essential determinants are the loan cap and the term. Such loans can be utilised repeatedly, subject to availability of funds in the Bank. The regular interest is accrued monthly on the debt amount, and once the loan falls due.
Loans for working capital purposes
The purpose of these short-term loans is investment into the working capital. The repayment period is up to 1 year, whilst the instalment frequency is negotiable (monthly, quarterly, semi-annually...). Loan amount depends on the borrower's creditworthiness.
Foreign currency loans
Foreign currency loans are advanced to domestic corporate customers for the purpose of international payments or for deposits to their FCY accounts. Such loans can be obtained in EUR, USD and CHF. The repayment period is up to 1 year, whilst the instalment frequency is negotiable (monthly, quarterly, semi-annually...).
Interest on such loans can be paid in FCY.
Loans against deposit
The main characteristic of this loan type is the speed at which the borrower can have access to the required funds. The basic precondition is a full coverage of the loan with a deposit. Loan repayment period is up to 1 year.