Overdraft

Overdraft facility, which helps to balance money flows and to satisfy liquidity needs.

Overdraft is an efficient way of short term financing, which gives the right to use amounts exceeding the balance in customer’s current account up to the agreed overdraft limit. Overdraft facility is cost efficient — interest is paid on everyday debit balance of the account.

Overdraft is an attractive way of short term financing:

• overdraft may be assigned without mortgage;
• you are not limited by a schedule of repayments and money withdrawals;
• interest is paid on daily balance.

Granting Overdraft

Overdraft can be granted to a Lithuanian Citizen who get incomes in Lithuania. Credit recipients – persons age of not less than 18 years.

Amount

Maximum loan amount EUR 12 000 (equivalent in Litas), but not exceeding 2 net salaries of the applicant (and spouse/co-applicant).

Period and repayment

• Overdraft may be assigned for a period of up to one year. The facility may be prolonged for further periods according to mutual agreement.
• You only have to repay the outstanding sum of overdraft until the end of the overdraft period – you can have debit balance on your current account during the whole overdraft period.

Currencies

Overdraft can be assigned is LTL.

Interest

• The total interest for overdraft consists of a reference rate VILIBOR and a margin percentage.
• Interest is calculated on daily outstanding amount and is debited automatically on last day of every calendar month.

Consult with Nordea Specialist