Corporation Overdraft

1. Definition

Corporation Overdraft refers to the short-term financing or convenient settlement services provided to corporate clients on the basis of the agreement they have signed with the Bank of Communications for handling insufficient temporary payment by means of an overdraft payment, who should repay the overdraft principal and interest according to the agreed way.

2. Features

 (1) The maturity for a single overdraft may be up to 90 days.

 (2) The accumulated amount of overdrafts in the account is calculated based on the balance of the overdraft at the end of the day. According to the overdraft interest rate agreed upon in the agreement, interest is calculated on a daily basis and settled on a quarterly basis.

3. Applicable Customers

(1) Quality medium-sized customers in financial trade under the industrial chain;

(2) Quality customers in the automotive, wholesale, retail, logistics, power and other industries;

(3) Import and export trade enterprises and B2B merchants.

4. Our Advantages

The Bank of Communications has rick experience of credit approval and flexible business model, and supports enterprises to overdraw through the online banking channel.