Overdraft
About overdraft loan
The product is intended for customers who receive a monthly salary through the account of Adriatic Bank. The use of funds is with no purpose. The maximum amount of overdraft on transaction account is 3 monthly salaries. The contract is concluded for a period of 12 months with the possibility of automatic renewal. Loan repayment will be automatically made from the User’s transaction account at the time of inflow of the user’s either regular or extraordinary income.
Conditions for loan approval
Age: minimum 18 years
Labour Contract for an indefinite period of time or Labour Contract for a definite period of time where the overdraft maturity is in accordance with the expiration of the Labour Contract.
That client is receiving salary or pension through Adriatic Bank
That a client is a citizen of Montenegro or non-resident with permanent employment in Montenegro
Necessary documentation
Duly fulfilled and signed Loan application form
Verified and signed income confirmation
Two administrative ban orders verified by the client’s employer (if verified and executed by the employer)
Signed consent for inquiry into Credit register
Evidence of paid fee for application in the Credit register
Bill of exchange that may be bought at the Bank's teller and bill of exchange authorization
A copy of passport or ID card with phone numbers and address (original document to be presented)
Other documentation upon the request
Credit calculator
Loan amount
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Monthly repayment amount
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Fee
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Detailed data
| Overdraft Loan | |
|---|---|
| Annual nominal interest rate | 20,00% |
| Annual Effective Interest Rate | 20.00% |
| Fee for inquiry in the Credit Registry of the Central Bank of Montenegro | 3.00 € |
| Annual penalty interest | Nominal rate increased by 50% |
| Maturity period | 12 months |