Features overdraft

Overdraft - a short-term bank loan that is provided to a legal entity or individual entrepreneur in non-cash form with a lack of funds in his checking account. Simply put, overdraft allows you to "go to the minus" when the situation demands it - you need to pay a bill or to get money to pay wages.
As a rule, overdraft apply to the bank, which is engaged in cash-settlement service of the potential borrower. To establish the overdraft limit legal entity or entrepreneur must comply with the standard requirements - to conduct business for 6-12 months and do not have a damaged credit history.

Loans in the form of an overdraft may be provided with collateral or without it. Most likely, the bank will provide surety business owner or a third party.
overdraft limit
Overdraft limit - is the amount, within which the borrower will be able to "go into minus." Typically, the limit is determined based on the average monthly turnover on the account of the legal entity or individual entrepreneur.
Sberbank of Russia sets the overdraft limit on the level of up to 40% of the average receipts for the last three months. Similar conditions overdraft loans offer Banca Intesa, Uniastrum Bank and Baltinvestbank. Alfa-Bank, Absolut Bank and PSB set overdraft limit of up to 50% of monthly income to the account.
repayment of the overdraft
More often than not repay the overdraft occurs without further authorization, ie the bank writes off the principal amount immediately after receipt of money on account of the borrower. Interest for the use of credit may be charged on a monthly basis as well as at the end of the term of the loan agreement. The interest rate on overdrafts varies in different banks from 10% to 20% per annum.
In addition to the interest the bank may charge an additional fee, a one-time or monthly. For example, a one-time commission Banca Intesa is 0.2-1% of the overdraft limit and the minimum fee for account maintenance in the "overdraft" in Baltinvestbank equal to 0.17% per month.