Bank Accounts, Overdrafts

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 authorised 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 enables firms to meet their payment obligations on time.

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 a monthly turnover of at least RSD 1 million.

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.