Piraeus Bank offers “Unsecured overdraft” at the rate from 19% p.a.

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Piraeus Bank offers “Unsecured overdraft” at the rate from 19% p.a.

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Piraeus Bank offers “Unsecured overdraft” at the rate from 19% p.a.

22 December 2016

Piraeus Bank offers a product "Unsecured overdraft" for small and medium-sized enterprises (SMEs) with differentiated ranging from 19% per annum, and the standard rate of 21% p.a. This product allows enterprises to cover cash gaps in operating activities, and to make payments even under the lack of own funds on banking accounts.

"Unsecured Overdraft" product is available under the following conditions: an overdraft limit of 500 thousand UAH up to 3 mln. UAH, the amount of the overdraft of up to 30% of the average monthly turnover on the client's account. To use the product a company has to operate on the market than 2 years.

"Lending to small and medium-sized enterprises is one of the main directions of our bank. Recognizing SME is a driver of the economy, we as a financial institution should support its share increase in GDP. For example, in Europe the gross added value produced by small and medium-sized business amounts more than 50%, while in Ukraine it barely reaches 9% of GDP. Therefore Piraeus Bank develops convenient and flexible banking products with the operational timetable for the review, focusing on the needs of the business", - said chairman of the Piraeus Bank, Sergey Naumov.