Overdraft Loan

Overdraft loan is a short-term loan facility for purpose of supporting business’s liquidity and working capital.

Benefits

• It can be repaid immediately as soon as your cash flow returns to its normal status;
• Interests are calculated according to the number of days the money is actually used;
• Very fast working capital in your business cycle.

Interest rate

• Starting at 0.83% per month or 10% per year.

Loan to value

• Up to 70% of the estimated value of collateral;
• Up to 100% of the pledge account (Fixed deposit account).

Bank service charge and collateral evaluation fee

• Bank service charge: 1% of approved limit in upfront (one time off);
• Collateral evaluation fee: 1% approved limit in upfront (one time off).

Required documents

1. For individual customer
• Borrower’s identification documents: copied valid national ID card/or passport, family book, current residence certificate (original), employee ID card or government ID card;
• Collateral documents: copied hard title of subject collateral, copied certificate of fixed deposit (if any), sale-purchase agreement/deposit agreement of subject collateral (evidence to proof deposit of collateral) and construction permit (if any);
• Financial documents:
  • For employee or government official: monthly salary certificate/employment certificate/pay slip, bank statement, utility bill;
  • For business owner: monthly financial report for last 3 months, annual financial report for last 2 years, quotation (if any), purchase order, invoice, receipt, lease agreement (if any) and utility bill.
• Legal document: copied of business permit/business license (if any), tax registration certificate, annual tax payment receipt (if any);
• Other documents as per the Bank’s requirement (if any).

 

2. For entity/company
• Identification documents: copied valid national ID card/or passport of company owner and/or all shareholders, family book of company owner and/or all shareholders, current address certificate of company owner and/or all shareholders (original);
• Collateral documents: copied hard title of subject collateral, copied certificate of fixed deposit (if any), sale-purchase agreement/deposit agreement of subject collateral (evidence to proof deposit of collateral) and construction permit (if any);
• Legal document: copied business permit/business license, tax registration certificate, annual tax payment receipt (latest year), shareholder agreement, article of association, organizational structure and board resolution on borrowing loan;
• Financial report: monthly financial report for last 6 months, annual financial report for last 3 years (external audited report is advantageous), summary of total assets, inventory report, quotation (if any), purchase order (if any), payment order (if any), sale-purchase agreement (if any), proof of remittance transaction for goods payment (if any), bank statement for last 2 years, work inspection certificate (if any)
• Miscellaneous documents as per requirement of the Bank (if any).