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Authorized overdraft for students

The Authorized overdraft is intended for:

For students of high schools, specialist colleges and universities, those over 18 years old, and owners of a G2 or Gaudeamus account.

What is an Authorized overdraft?

The Authorized overdraft means going into the red on your account so you can cover a short-term insufficiency in funds.
The Authorized overdraft can be drawn on to a limit arranged beforehand, and this applies for any common transaction, such as withdrawing money from an ATM or from a branch, paying by card at a shop or payment order.
You may repay an Authorized overdraft automatically by any incoming transaction or transfer funds to the current overdraft account. Each such transaction increases your available balance which can be used according to your needs again. The only condition is to have at least once in the process of maturity (180 days) a neutral or a positive balance of your current account. Every time your loan is the way well-balanced, it is possible to draw it again throughout 180 days.

KB offers students the following types of Authorized overdrafts:

Overdraft on konto G2

Determined for students at universities, specialist colleges and high schools
Option of being overdrawn on your G2 account for 180 days
Option of arranging immediately during setup of the account
Arrangement of overdraft and increase to a limit free of charge
Maximum overdraft limit of up to 20,000 dependent on level of study

High school students - CZK 5,000 limit
1st year university or 1st year specialist college students - CZK 10,000
2nd year students and above at university or at specialist college - CZK 20,000

A current confirmation of studying must be submitted for arrangement of overdraft

Overdraft on konto Gaudeamus

specially for university students
it is possible to apply for it after the account Gaudeamus has been opened for three months
the possibility to overdraw current account for 180 days
the limit of Authorized overdraft is set according to the student´s individual rating, made by the bank, to a maximum amount up to CZK 10,000
for an application the confirmation of study has to be provided

Authorized overdraft benefits:

a constantly-available financial reserve, which is promptly available by draft from your current account
loan without the need of security
permitted overdraft can be combined according to need with a credit card for students; the total credit limit is always a maximum of CZK 20,000 (overdraft limit + card limit)