Do you need a flexible form of borrowing to 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.
What you should know
- 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. Τhe maximum amount of the facility can be up to 25% of thw annual turnover of youw business
- The following securities are required:
1. Collateral security (property mortgage, cash collateral)
2. Personal guarantees.
- Current account interest rates fluctuate and how much is charged varies depending on the security that is provided.
- Interest is paid only on the amount that is used and is calculated on the daily balance
- 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.
- There are no arrangement and documentation fees
Choice of current account
|With a variable interest rate
Without property collateral
|BBR + 2.50%
With property collateral
|BBR + 1.25%
With cash collateral
|Euribor 6M +1%
- BBR (Bank Base Rate) on the 15/12/2016 = 3,9036%
- Euribor 6M =0,0%. The Bank sets a minimum percentage of 0% for Euribor 6m.
The Bank reserves the right to reject any application at its discretion and to withdraw any plan at any time. The interest rate of the current account may be modified by the Bank from time to time.
You run the risk of losing your property if you do not keep up regularl payments of instalments on a mortgage or any other loan secured by a mortgage on your property.