Product Description:  Overdraft allows customers to use more than credit balance on current account in order to replenish temporary shortage of working capital.

Target customers: Corporate customers.

Conditions:

• Lawful loan use purpose.
• Effective and feasible business plan.
• Financial ability to pay debts during the commited period.

Characteristic:

Limit term: Maximum 12 months.

Loan currency: VND.

Loan limit: by agreement between Kienlongbank and customers. 

Interest rate: by Kienlongbank's regulations from time to time.

Disbursement method:

• Payment instruments (checks, payment orders...) or to withdraw cash from current account. 
• Overdraft loan account is connected to customer's current account. Kienlongbank will automatically transfer the entire withdrawn amount in excess of Credit balance on current account to the overdraft loan account at day end.

Debt collection method:

• Interest is collected monthly on 25th day.       
• Principal is collected at the end of every day when current account has credit balance.

Credit service fee: See fee schedule.

Utilities:

• Simple procedure, fast processing time.
• Customers are provided with temporary shortage capital in the most favorable way.