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Overdraft facility

Additional funds to cover any unexpected expenses – an overdraft facility allows the account to go into the negative within a specified limit.

If necessary, transfers, debit card payments or cash withdrawals may be effected within the amount of the overdraft facility.

Further information

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  • the agreement is concluded for up to 2 years, the interest rate is 18% per annum
  • the minimum limit is 300 euros. The amount of the credit limit depends on the earnings and existing obligations but is not more than 3 500 euros
  • an applicant for a card has to be at least 21 years of age and a citizen of the Republic of Estonia or have a residence and work permit in Estonia
  • the net income of the person applying for a card has to be 450 euros per month or more and their payment behaviour to date has to have been appropriate
  • an application may be submitted online, in the Internet bank or at the nearest branch.

After the application has been received, a bank employee will make contact to agree a suitable method for concluding an agreement.

Interest on the credit limit drawn down has to be paid monthly. Interest is calculated daily on the amount of the overdraft facility in use.

Repayments on an overdraft facility may be made at the time and in the amount of one’s choice. Within the amount repaid, the credit limit may be drawn down again. On the expiry date of the agreement, the entire overdraft facility amount in use has to be repaid.

The provisional annual percentage rate of charge is 25.9% on the following sample terms: credit limit € 500, term 2 years, agreement fee € 15, fixed interest 18% per annum on the limit drawn down, total amount paid by the consumer € 629 and total amount of repayments of € 599.

The rate has been calculated on the assumption that the credit limit will be used immediately and in full.

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