Raiffeisen Bank

sag_nav-3804172 Corporations sag_nav-3804172  Loan Products sag_nav-3804172  Advance in current account

Advance in current account

  • The facility is destined to finance a specific part of the client working capital requirements.
  • The facility validity is up to 364 days with renewal possibility based on the counterparts’ approval.
  • The advance in current account is similar to the overdraft with the following differences:
    • the bank is monitoring the usage of the loan.
    • the amount of the loan is put at the disposal of the client in another account than the current account.
  • Drawings up to the approved limit can be done anytime during the lifetime of the facility. The drawdown should not be notified to the bank in advance, but it should be backed up as compliant with loan purpose.
  • The totally or partially reimbursement can be done anytime during the lifetime of the facility. Once reimbursed the amounts can be drawn again.
  • The facility can be committed or uncommitted.