NotiPass_80%K-Trade Connect will be closed on December 11, 2019 at 10:00 p.m. and resuming services on December 12, 2019 at 02:00 a.m. $More Details.%/en/announcement/Pages/SystemMaintenanceK-Trade-Connect.aspx
/en/business/loan/working-capital/pages/overdraft.aspx
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Overdraft
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Working capital to enhance business liquidity.
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Never miss payments to suppliers.
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Only pay interest for overdraft withdrawals.
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How to Apply
| Qualifications |
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Status | Income- Profits in at least 2 out of the last 3 years are positive
| Age of business- Have been in business for at least 2 years
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Remark:
Other qualifications as per the bank's conditions
| Required Documents |
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Private individuals- Copy of the borrower's national ID card
- Copy of the house registration of the borrower and spouse
- Copy of the name change certificate of the borrower and spouse (if any)
- Copy of a marriage or divorce certificate (if any)
- Copy of personal income tax payment certificate
- A bank statement from a financial institution showing the past 6 months' history of transactions
- A photocopy of documents evidencing ownership rights to property
- A sales-purchase contract or deposit contract (if any)
| Business corporations- A certified copy of the partnership registration (issued within the past 3 months)
- Certified copies of the company's Memorandum of Association and Articles of Association (issued within the past 3 months)
- A copy of the juristic person’s tax identification card
- A copy of the personal income tax payment certificate
- A copy of the company's meeting minutes related to an agreed resolution to request a loan/open an account with KBank
- The latest financial statement submitted to the Revenue Department
- A bank statement from a financial institution showing the past 6 months' history of transactions
- A photocopy of documents evidencing ownership rights to property
- A sales-purchase contract or deposit contract (if any)
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Frequently Asked Questions
What is “an overdraft”?
Commercial Overdraft (O/D) is a financial service for general businesses. Clients may use the fund as the working capital to run their operations and enhance the liquidity of the businesses. This is done by using a cheque in withdrawing the fund within the limit agreed upon by the bank. The clients could withdraw all the amount within the authorized overdraft limit or withdraw partially from their current account. They could make payment for the fund for the total amount owed or partially. The payment can be done by depositing money into the current account with an overdraft; the bank shall charge the interest from the remaining amount overdrawn in the current account as appeared at the end of the day.
When is the payment due?
If a bank account goes below zero and in the red, the bank shall charge an interest from the amount overdrawn at the end of the day of everyday. The payment must be made on the last business day of each month. In the case of the clients not paying the interest, the interest shall be combined with the principal for payment in the next month.
Which type of account is eligible? Would a saving account be eligible?
Only current accounts are eligible.
Can the interest be paid in installments?
Yes, clients are able to make the payment in whole or in part. The payment can be done by depositing money into a current account with an overdraft. The bank shall charge an interest from the remaining amount overdrawn at the end of each day.
What is the maximum authorized loan limit? What criteria do the bank consider?
This depends on the qualifications of a borrower and a guarantee.
Is it necessary to have a guarantee?
This depends on the qualifications of a borrower and a guarantee.
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Supports all spending by check payment.
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