|
|
 |
|
|
|
|
|
|
Corporate Information
|
|
|
|
|
Corporate Internet Banking
|
|
|
|
|
|
 |
|
|
|
|
|
Account Overdraft
| | |  | |
Account overdraft is one kind of short-term finance or settlement facility our bank provides your company on your account in the form of account overdraft within the credit line we offer your company. In case your company has a temporary demand for funding and your account balance is insufficient to cover the payment, your company could seek an active funding through account overdraft.
| |  Subject and Conditions of the Loan | | |
In order to apply for account overdraft facility, your company should be a legal entity with fine creditworthiness, normal business operation and regulated financial management. In addition, your company should maintain deposit account with our bank and have acquired credit line from us.
Over Draft Limit, Interest Rate and Commissions | | |
According to your application, and also in consideration of the comprehensive short-term credit line we offer your company, we will determine the overdraft limit for you. Overdraft limit composes part of your short-term credit line. It is valid for only one year and will be reviewed year by year.
The loan interest rate for six months stipulated by the People's Bank of China will also apply for account overdraft. The interest rate will be floated within the range regulated by the People's Bank of China according to the overdraft tenor.
We will charge annual commissions with a certain rate for the overdraft limit we offer your company.
Utilization and Repayment of the Overdraft Fund | | |
Your payment order in amount exceeding the balance of your overdraft account will be automatically regarded as an application for overdraft. In that case we will satisfy your fund settlement need timely.
Within the valid period of your overdraft limit, your company could use the overdraft fund continuously, provided the outstanding overdraft amount does not exceed your overdraft limit. If the overdraft fund is repaid before the business end of the same date, no interest will be charged for the overdraft amount. The outstanding overdraft amount at the end of business will be regarded as the overdraft amount of that day. The interest of the overdraft amount will be calculated everyday and settled monthly. The remaining balance of your overdraft account will accrue interest and this interest will be settled quarterly. If the overdraft account is your basic deposit account, the overdraft fund should not be withdrawn in cash or transferred to individual deposit account.
Your company could repay the overdraft fund and its interest any time within the period of validity of the overdraft limit. Upon repayment of the principle and interest, the corresponding overdraft limit could be recovered and revolved.
Application Procedure | | |
- Your company should open a basic deposit account or normal deposit account with our bank before you apply for account overdraft facility. The overdraft account should be either your basic deposit account or normal deposit account. Besides, it should be the only settlement account you maintain with this branch of our bank except for special accounts such safe deposit account.
- If your company has already acquired credit line from our bank, you need to fill in the application form for overdraft business. If your company has not acquired any credit line from our bank yet, you should apply for a credit line at first or at the same time.
- Your company should provide corresponding guarantee.
- Your company should sign the contract of account overdraft and other related guarantee contract with our bank after receiving approval from our bank.
| | | | | | | |
|
|
|
