Overdraft on a current account is for:
All clients with current account and regular income received in the bank as follows:
- Employees working on a permanent contract with a length of service above 3 months
- Pensioners receiving their pension on a current account in the bank
- Other clients – landlords, free professionals, savers who receive regular and verifiable earnings from rents, fees, and interest on current accounts in Societe Generale Expressbank
Overdraft on a current account:
Covers your expenses for the period until the receipt of your monthly salary or pension on your current account every time when you have to make an urgent expense and you do not have enough money on your account.
Up to 100% of the monthly income (salary, pension, rent, etc) transferred to current account in the bank.
1 year, with the possibility of an automatic re-negotiation at the end of the one-year term.
- Interest accumulationThe interest accrues only over the part of the overdraft that was in use.
The maturity date for interest payment for the real granted amount of the overdraft is the last day of the month.
The client pays an additional tax for management in compliance with the schedule of fees & commissions.
- Acquiring and clearing off the overdraft on the current account
The acquisition of the overdraft is allowed when the amount of ordered payments from the account exceeds the available funds in it.
Every time when you use your overdraft, your current account comes out on a debit balance, i.e. “in the red”. With every use of amounts from the overdraft, your current account debit grows, while with every income receipt from your salary, pension or others, the debit balance is automatically diminished.