Overdraft by VS Bank PJSC
An overdraft is the simplest form of lending involving a plain and easy-to-understand procedure of receiving loan proceeds, and does not require any extra expenses on your part (e.g. the notary’s fee.) Normally, an overdraft is an unsecured loan; in other words, the bank does not require that you pledge any property as collateral.
The disbursement of an overdraft loan is made within a pre-agreed amount. Furthermore, the loan application is your payment order to write-off the money – no supplementary instruments!
The outstanding overdraft is covered by each amount credited to the Client’s account, thus automatically reducing the outstanding amount. This enables you to materially reduce the interest-payment-related costs if compared to other forms of lending.
This loan is made to businesses holding a current account at VS Bank PJSC, and having been periodically receiving money to this account over a period of at least one (1) year, or longer
Monthly commission for payment processing – from 0.15% to 0.4% of the contractual amount (the bigger the contractual amount – the smaller the amount of the commission.)
The loan is collateralized exclusively with civil financial guarantees given by the founders, who have a decisive influence upon the company’s business activities.