• Authorized Overdraft for Business Current Account

    Overdraft for businesses.

For anything

Use your short-term loan resources for anything.

Flexibly

Use and repay the loan at your discretion.

Right away

Benefit from quick financing without administrative burden.

Individually

Get your credit limit based on your individual assessment.

Why KB?

No need to wait

Enjoy this form of quick funding without burdensome administration.

Repeatedly

Draw on your overdraft for up to 180 days.

Simply ask

We will assist and help you with your product customization.

How to get this product?

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At a branch

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Intended for

This product is intended for businesses.

Overdraft repayment

Your account balance must be greater than or equal to zero at least once every 180 days. You can then draw on your loan again.

Pricelist

Detailed KB pricelist and interest rates.

Detail

About Authorised Overdraft for Business Current Account

  • Short term overdraft in CZK provided for business current accounts
  • Finance your fluctuations in liquidity
  • Draw on funds up to the agreed credit limit (negative balance)
  • Credit and debit balances are subject to interest rates published in the Notification of Komerční banka, a.s.
  • Credit limit is determined by the bank on the basis of an individual assessment
  • Authorised overdraft offers repeated utilization of credit limit funds (negative balance)
  • Loan with a simple form of security

You might also like to know

  • Each incoming transaction is also a loan payment
  • Draw on your loan for up to 180 calendar days
  • Loan is fully repaid at the moment your account balance is greater than or equal to zero. You can then draw on the loan for another 180-day period.
  • General purpose loan for all clients, with the exception of association of unit owners

Important information for you

  • Form of security:
    • For businesses, the loan is secured by co-acceptance to a blank collateral draft
    • No security required for existing KB clients and overdrafts of up to CZK 500,000 or in case of sufficient funds in current accounts maintained by KB
    • Municipalities and municipality clusters can get authorised overdrafts without security
  • Your authorised overdraft credit limit:
    • Up to CZK 300,000 – for businesses
      • Based on an individual assessment of applicant’s financial situation and submitted financial statements
    • Up to CZK 500,000 – businesses, housing cooperatives, associations of unit owners, entities formed by municipalities, towns, cities or regions
      • For existing KB clients with a current account maintained by KB for no less than 6 months
      • Based on individual assessment of turnover in their KB current accounts
    • Up to CZK 30,000 for new clients – established and new businesses, housing cooperatives, associations of unit owners, entities formed by municipalities, towns, cities or regions
    • Up to CZK 100,000 for new clients – established and new businesses in selected sectors (farmers, pharmacists, attorneys, notaries, tax advisors, accounts, architects, authorised engineers and technicians, veterinarian, outpatient physicians, dentists)
    • Authorised overdraft limits for municipalities/clusters of municipalities are set up based on their tax revenue and regular grants
  • Authorised overdraft requirements:
    • Business clients applying for authorised overdraft up to the preapproved credit limit – new clients up to CZK 30,000 and new clients in selected sectors up to CZK 100,000
      • Application including Affidavit, Consent to Disclosure of Information, and Information about Ownership Relations and Shares
      • Current documents authorising business activities in question
    • Business clients applying for authorised overdraft in excess of the preapproved credit limit – new clients up to CZK 30,000 and new clients in selected sectors up to CZK 100,000
      • Application including Affidavit, Consent to Disclosure of Information, and Information about Ownership Relations and Shares
      • Current documents authorising business activities in question
      • Financial statements including a tax return and auditor’s report, if available (clients with accounting books)
      • Current statements to the extent of balance sheet and profit and loss statement (clients with tax records)
      • Income tax return including any annexes and supplementary information (clients with single-entry accounting)
    • Municipalities, towns, cities, and regions
      • Application including Affidavit, Consent to Disclosure of Information, and Information about Ownership Relations and Shares
      • Statement of budget compliance for self-governing territorial units
      • Balance sheet
      • Municipal Council resolution or extract from such Municipal Council resolution with the consent to authorised overdraft acceptance
    • Entities formed by municipalities, towns, cities, or regions
      • Application including Affidavit, Consent to Disclosure of Information, and Information about Ownership Relations and Shares
      • Deed of foundation
      • Municipal Council resolution or extract from such Municipal Council resolution with the consent to authorised overdraft acceptance
    • Clusters of municipalities
      • Application including Affidavit and Consent to Disclosure of Information
      • Agreement on the formation of a cluster of municipalities, including Articles of Association of such cluster
    • Housing cooperatives
      • Application including Affidavit and Consent to Disclosure of Information
      • Current Articles of Association and protocol from member’s meeting, during which a loan in the form of an authorised overdraft was approved for the purpose of funding operating needs
    • Association of unit owners
      • Application including Affidavit and Consent to Disclosure of Information
      • Current extract from the register of associations of unit owners, current Articles of Association and minutes of the meeting of unit owners showing the approval of a loan in the form of an authorised overdraft for the purpose of funding operating needs relating to the apartment building management as well as the approval of contributions by unit owners for any costs associated with the loan purpose