Bank Accounts, Overdrafts

ProCredit Bank is a development-oriented full-service bank.
In our loan operations, we focus on lending to small and medium-sized enterprises and enterpreneurs, as we are convinced that these businesses are the most active sector in the Serbian economy and have huge potential for development.

In addition to our standard credit products, ProCredit Bank now offers its business clients a new and even more flexible financing option: overdraft facilities. A company that has been granted an overdraft is authorized to overdraw its account up to a pre-arranged limit.
Overdrafts can be used as a short-term source of working capital, and as a means of reconciling incoming and outgoing payments to and from your bank account. This is a way of overcoming short-term liquidity problems, and enables firms to always meet their payment obligations on time, and so override the gap between inflow and outflow of money.
To qualify for an overdraft, customers must:

• have a current account with ProCredit Bank
• have been running a business for at least twelve months
• have monthly turnover of at least one million dinars

Overdrafts are approved for periods of up to 12 months.
The overdraft limit depends on the client’s creditworthiness, as well as on the average account turnover. Interest accrues daily (i.e. interest is due for each day on which the account is overdrawn), and is debited from the account at monthly intervals.