What you should know
Do you need a flexible form of borrowing that will match the needs of your company? Do you wish to make a purchase for your business that you will be able to repay within a short period? Do you need an easy payroll procedure for your employees?
In that case, the business current account could be exactly what you need to cover your liquidity needs and cope with emergencies that arise every day.
- Making an application for finance does not involve time-consuming procedures.
- The amount of the facility will depend on your needs and the turnover of your business.
- In some cases, there will be a requirement for collateral security (property mortgage, cash collateral), or personal guarantees.
- Current account interest rates fluctuate and how much is charged varies depending on the security that is provided.
- Interest is paid only for the amount that is used and is calculated on a daily basis.
- Once a current account is opened for you, you are provided with a cheque book, a debit card and access to the online 1bank service, ensuring that you have access to your accounts on a 24 hour basis.
The Bank reserves the right to reject any application at its discretion and to withdraw any plan at any time. The interest rate and the loan instalment may be modified by the Bank from time to time.
You run the risk of losing your property if you do not pay keep up regular payments of instalments on a mortgage or any other loan secured by a mortgage on your property.