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Parameters and terms
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OVERDRAFT CREDIT
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Product description
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Untargeted credit intended to cover daily needs
The overdraft is granted on the current accounts of customers, whose salaries are transferred in the Bank.
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Currency
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BGN
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Overdraft amount
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Minimum amount (limit) 200 BGN
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Maximum amount (limit):
The two-fold average monthly net salary, but not more than 10 000 BGN.
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Guarantee
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1. Pledge on future receivables from employment relations or similar relations, received on a current account provided with a debit card, together with a future account receivables pledge.
2. Pledge on financial receivables in BGN and foreign currency on deposit and/or savings accounts held by the borrower or third persons in the Bank.
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Maximum repayment period
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12 months following the date of signing the agreement
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Annual interest rate
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The credit’s annual interest rate is based on the 6-month EURIBOR plus a fixed surcharge /interest rate on the deposit with the highest interest rate which guarantees the credit plus a fixed surcharge.
The agreed interest rate is calculated on the date of actual use of overdraft amounts.
Updated information about the credit’s annual interest rates could be found in the Bulletin on the interest accrued by Municipal Bank AD on transactions with individuals
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Repayment
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Upon each payment of amounts to the account servicing the credit with a revolving option up to the agreed credit limit.
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Fees and commissions
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The credit applicant pays fees and commission under the current TARIFF of Municipal Bank AD for interest rates, fees and commissions applicable to individuals
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- for analysis of the creditworthiness and collateral, guaranteed by pledge on future receivables /one-off payment before the credit is utilized/;
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Necessary documents:
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Credit application (Bank form)
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Identity document/s
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Declaration on the economic affiliation of the natural person with other persons (Bank form)
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Bank form regarding the income
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