NOMOS-BANK launches a new type of overdraft lending for corporate clients

The overdraft with monthly payments provides access to credit resources (up to 50 million Roubles, but not exceeding 30% of the turnover volume) at lower interest rate. The product is intended for those companies whose business implies the emergence of short-term cash gaps.

The overdraft with monthly payments is the latest addition to NOMOS-BANK overdraft products line, which also includes:

• standard overdraft;
• corporate overdraft (the credit limit is determined considering the aggregate turnover figures for all companies forming the holding, including those companies the relationship with which is not legally documented);
• overdraft with transition period — gives the opportunity to obtain credit resources before the company’s funds derived from main line of activity are transferred into its account at NOMOS-BANK.

“The specific features of overdraft make it one of the most popular types of credit products among corporate clients, — notes Vladimir Voyeykov, Senior Vice President of NOMOS-BANKа Владимир Воейков. — Our forecasts show that this trend will remain in the near future”.

Vladimir Voyeykov pointed out other advantages of overdraft lending including:

• Absence of collateral;
• Speedy access to credit resources;
• Interest charged only if overdraft is used;
• Possibility to review overdraft limit in case of higher average monthly funds deposited by client to NOMOS-BANK accounts.