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Business

Overdraft

Overdraft

A short-term loan for working capital financing

  • Evens cash flow
  • Flexible option for using extra cash

You can use an overdraft to even out your company’s cash flow, cover unexpected expenses or in the event of seasonal turnover. Overdraft guarantees uninterrupted circulation of money in a highly flexible manner, as the company can use the credit limit constantly and to the extent needed for its economic activities.

Terms and conditions
Maximum credit limit Depends on the client’s risk limit, usually up to 50% of the applicant’s average turnover in the bank for the last three months
Minimum credit limit 3000 euros
Term Up to one year
Collateral Immovable and movable property, deposit, surety and securities as additional guarantee. It is possible to apply for a guarantee to the extent of up to 80% of the loan amount from Fund KredEx and up to 80% in rural areas from the Rural Development Foundation (RDF)*
Agreement fee
companies 1% of credit limit, min 200 euros
sole traders 1% of credit limit, min 200 euros
Limit fee** A fixed percentage of the credit limit based on a year
Commitment fee** A fixed percentage of the unused part of the limit based on a year

*An agreement fee and guarantee fee are added if a guarantee by KredEx or RDF is used.

** The limit fee and commitment fee are not applied at the same time.

Required documents

  • Loan application
  • Annual report for the financial year ended and the most recent interim report for the current financial year. The most recent financial information should not be older than 120 days.
  • A business plan or description of how the loan will be used with financial projections included.
  • A valuation report if a property is offered as collateral, which must be prepared in a property agency accepted by the bank.
  • Additional documents for analysing the loan if necessary.

In order to apply for a loan

Private person  
1. Home loan, mortgage loan  
- agreement conclusion 1% of the loan amount, min. EUR 250
- agreement amendment (1) up to 1% of the remaining loan, min. EUR 250
- changing the payment date once in a year free of charge
- changing the payment date as of the second change of payment date in one year EUR 20
- change of the current account(s) related to the loan EUR 20
- extending the loan disbursement period EUR 50
- grace period for the principle amount of the loan EUR 50
2. Consumer loan  
- agreement conclusion 1,5% of the loan, min. EUR 35
- agreement amendment (1) EUR 35
- changing the payment date once in a year free of charge
- changing the payment date as of the second change of payment date in one year EUR 20
- change of the current account(s) related to the loan EUR 20
- grace period for the principle amount of the loan EUR 20
3. Overdraft  
- agreement conclusion 1,5% of the credit limit, min. EUR 20
- agreement amendment (1) EUR 15
- increasing the loan amount 1,5% additional credit limit, min EUR 20
- changing the payment date once in a year free of charge
- changing the payment date as of the second change of payment date in one year EUR 20
4. Student loan  
- agreement conclusion free of charge
- agreement amendment (1) free of charge
- amending the student loan repayment schedule free of charge
5.Endowment loan  
- agreement amendment (1) up to 1% of the remaining loan, min. EUR 250
- changing the payment date once in a year free of charge
- changing the payment date as of the second change of payment date in one year EUR 20
- change of the current account(s) related to the loan EUR 20
6. Limit loan  
- agreement amendment (1) up to 1% of the loan limit, min. EUR 35
- changing the payment date once in a year free of charge
- changing the payment date as of the second change of payment date in one year EUR 20
7. Other loan-related services  
-contractual penalty for the violation of the notification obligation stipulated in the agreement, incl. for not submitting the insurance policy of collateral EUR 32
- contractual penalty for the violation of any other non-monetary obligation stipulated in the loan agreement up to 5% of the loan amount outstanding at the moment of violation
- re-registration of a pledge established on a building into a mortgage free of charge
- reminder of debt free of charge
- debt claim letter EUR 5
- certificate on paid interests (2) EUR 4
Legal entity  
1. Investment loan  
- agreement conclusion 1% of the loan amount, min. EUR 200
- agreement amendment 1% of the remaining loan /limit, min EUR 200
2. Working capital loan  
- agreement conclusion 1% of the loan amount, min. EUR 200
- agreement amendment 1% of the remaining loan /limit, min EUR 200
3. Overdraft  
- agreement conclusion 1% of the loan amount, min. EUR 200
- agreement amendment 1% of the remaining loan /limit, min EUR 200
- increasing the loan amount/limit 1% additional loan amount/limit, min EUR 200
4. Start-up loan  
- agreement conclusion 1,5% of the loan amount
- agreement amendment 1% of the remaining loan /limit, min EUR 200
5. Apartment building renovation loan  
- agreement conclusion 1% of the loan amount, min. EUR 200
- agreement amendment 1% of the remaining loan /limit, min EUR 200
6. Other loan-related services  
- contractual penalty for the violation of any other non-monetary obligation stipulated in the loan agreement up to 5% of the loan amount outstanding at the moment of violation
-re-registration of a pledge established on a building into a mortgage free of charge
- reminder of debt free of charge
- debt claim letter EUR 5

(1) All amendments to the loan, which have not been indicated under separate clauses in the price list (incl. amendment of collateral in a notarised or other form).
(2) Commission fee applies to certificates issued at a bank office. A certificate issued automatically in the Internet Bank is free for the client (for enclosing electronically to income tax return).

 

Base rates

Valid as 15.10.2019
1-month EURIBOR® -0,4580
3-month EURIBOR® -0,4180
6-month EURIBOR® -0,3580
12-month EURIBOR® -0,3030
EONIA® -0,4640
€STR -0,5510
Bank's base interest 0,0000
EURIBOR® historical data
EONIA® historical data
€STR historical data
Base rate information

Euribor (benchmark) and Eonia (benchmark) are published by the European Money Markets Institute (EMMI).
The base interest rate of the bank is set and published by AS SEB Pank.
The set base interest rate may decrease or increase over time. These changes affect the contractual interest rate. For example, if the new base interest rate has increased compared to the previous base interest rate which was in force on the day the agreement was concluded, the interest payments will also increase.

 

Contact

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