Sberbank customers have the opportunity to use borrowed funds from their payroll card. This article will tell you everything about an overdraft on a Sberbank card: advantages, disadvantages, connection.
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Conditions for connecting an overdraft in Sberbank
An overdraft is a special type of loan connected to a Sberbank card. At the same time, it has a certain limit and is not displayed on the card balance. Using the credit amount, the card balance goes into negative.
The overdraft is linked to the salary card during its registration or connected later.
In addition, overdraft has other significant differences:
- There is no grace period like regular credit cards;
- repayment terms are strictly limited. If they are exceeded, the bank will calculate the amount of the commission;
- overdraft cannot be disabled independently;
- it is difficult to control the amount of overspending.
As you can see, an overdraft is an analogue of a credit card in a simpler way. With a card that has an overdraft, you can "go into the red" for a fixed amount. Interest is charged on the use of bank funds.
Is it possible to connect the service for individuals
At the moment, overdraft is available only for legal entities. While, for individuals, it can only be connected to a salary card, provided that the client's organization concludes an agreement on this service with the bank.
For individual entrepreneurs, you can conclude an agreement with a bank on the provision of an overdraft service on a card. At the same time, each client has its own limit amount and annual percentage.
At the moment, the percentage for using the overdraft is set at 12%.
More information about the conditions and procedure for connecting the service for legal entities is on the Sberbank page .
What is needed to connect the service?
To activate the service, you must do one of the following:
- open a business account and make transactions on it;
- have a salary card in Sberbank.
Depending on the amount of salary accruals or the solvency of the organization, the loan amount on the card will be offered.
Calculation of the proposed amount and terms of the overdraft
An overdraft on a Sberbank card can be agreed and executed in the following way:
- data processing and analysis of financial opportunities;
- calculation of the most suitable loan amount;
- determining the interest on the loan;
- calculation of repayment terms;
- advice on the rules of use, interest and sanctions;
- signing the contract.
The Sberbank Online personal account can only be used to apply for an overdraft, but you still have to visit a bank branch.
Each client can make his own decision on the need for an overdraft on a Sberbank card, based on the feasibility of this service.