Overdraft on a current account

Information on overdraft for a current account, to better manage your monthly budget
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.
  • Amount
Up to 100% of the monthly income (salary, pension, rent, etc) transferred to current account in the bank.
  • Term
1 year, with the possibility of an automatic re-negotiation at the end of the one-year term.
  • Interest accumulation
The 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.
  • Taxes
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.
 
Overdraft on a current account allows you to:
  • Manage smoother your household budget in type of short-term credit
  • Solve the problem with the payment of monthly bills for the household at the end of the month and the date of receipt of your salary or pension.
 
Main benefits are:
  • You have one salary or pension in reserve which you can use in case of emergency many times throughout the year;
  • You receive the overdraft directly on the debit side of the account, which allows you to follow the amounts used with maximum transparency
  • You automatically pay off your liabilities with every receipt of money on your account
  • You and your family are protected against debt by insurance Spokoystvie, designed by Sogelife Bulgaria. In case of an accident, the due amount on your overdraft is paid by the insurer directly to the bank.

You can increase the amount of your overdraft with every change of income and needs.
 
Further information can be obtained either from your Account officer or from the toll-free line 0800 18 888, from 8.00 to 20.00 daily, from 9.30 to 14.00 on Saturday.
 


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