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Business Overdraft Protection
Product Overview
HSBC recommends Business Overdraft Protection to all of our business customers. Overdraft Protection provides protection to your current account against planned or unforeseen short term financing needs such as employee wages and other emergency funding needs.
Benefits
- Revolving credit line
- Repay only the funds drawn plus interest for the period of days that carried a balance
- Interest only payment with full balance payoff at anniversary
Product Features
- Annual review required for renewal
- Protection accessible when there is negative balance in current account
- Maximum tenor : 1 year (monthly rollover)
- Overdraft Protection is accessible through :
- Business Internet Banking systems
- Commercial Business and SME Centres - Rates depend on credit rating and collateral/security
- Variable interest rate (calculated daily) : (Overdraft basic rate + additional rate)
- Fees : Stamp tax, taxes and expenses incurred in collateralizing a security, appraisal fee, etc (if applicable)
Act now
Please contact the Commercial Customer Service Centre at 1588-7639 or visit a Commercial Banking Centre for more details.
