Skip to main content
Whistleblowing Contact Branches ATM's
Home loans

Overdraft

For your immediate expenses the right choice is on Overdraft!

Overdraft Benefits

The Overdraft Loan allows account holders to borrow money repeatedly up to a certain limit. This means clients can withdraw from their personal account more funds than the current balance in their account.

Financing up to 3 salaries
* Approval within a few minutes

* In most cases

0% administration fee
Minimal documentation
Co working conference, Business team meeting present, investor colleagues discussing new plan financial graph data on office table with laptop and digital tablet, Finance, accounting, investment.

Example

The calculation of the interest for the total amount that the customer will have to pay will be made according to the following example:

Approved loan amount: 100,000 ALL

Duration of the loan contract: 3 months

Loan amount used: 100,000 ALL (the entire approved amount)

Loan usage period: 3 months / 90 days, assuming that the client has not made any repayment

Latest published 12-month Treasury Bill interest rate: 2.75% (assuming that the Treasury Bill rate remains unchanged)

Fixed loan interest rate: 10.40%

Total loan interest: 13.15% (2.75% + 10.40%)

Standard interest = 100,000 * 13.15% * 90 / 365 = 3,242.46 ALL


Total amount the client will pay for the loan at the end of 3 months = 103,242.46 ALL

This total amount may vary depending on changes in the 12-month Treasury Bill interest rate.

The total amount that the client will pay for the requested loan (principal + interest) is calculated monthly according to the loan usage, depending on changes in the 12-month Treasury Bill/Euribor (reference index) and the credits to the current account/salary account.

Repayment of the used loan will be carried out through credits transferred to the current account/salary account. The client’s minimum obligation is the payment of the monthly interest generated from the loan usage.

* In the event that the borrower’s salary transfer to Raiffeisen Bank is discontinued, the loan obtained must be fully repaid together with the accrued interest. The borrower must return any outstanding amount within 90 days. Furthermore, the unused loan limit will be reduced with immediate effect, making the unused amount no longer available.

For more information, download the Pre-Contractual Information for the Credit Limit (Overdraft) for individuals receiving their salary at Raiffeisen Bank.

Download
Manage your existing home loan

What should you know more?

Who can benefit an Overdraft?

  • Individuals who receive their salary at Raiffeisen Bank.
  • Holders of a Term Deposit at Raiffeisen Bank.

 

What conditions must be met?

To qualify for an Overdraft Loan you must:

  • Be an Albanian resident, living and working in Albania.
  • Have your salary transferred to Raiffeisen Bank.
Terms

What documents are required to apply?

To apply you only need one valid identification document (ID card or Passport).

* The bank reserves the right to request additional documents in special cases.

Frequently Asked Questions

In this section, you will find the most frequently asked questions about the Overdraft.

The Overdraft, also known as the Credit Limit, allows the bank to grant the client the right to have a negative (debit) balance in their current account, up to a specified amount considered as the limit.

The Overdraft allows the account holder to repeatedly borrow money up to a certain limit. Thus, clients can withdraw more money from their personal account than what is currently available in their account balance. The used loan amount and interest are automatically paid with the funds transferred into the client's account, while you can reuse the repaid portion within the agreed period.

The Overdraft is obtained once your salary starts being credited to your account at Raiffeisen Bank Sh.a.

Step 1: Apply at a branch

Step 2: The bank makes a decision regarding the loan

Step 3: The contract is signed

Step 4: The loan is disbursed

The Overdraft is also offered to holders of a Term Deposit at Raiffeisen Bank, allowing clients to benefit from the interest on their deposit without breaking it.

  • In Lek and EUR, depending on the currency in which your salary is credited to your bank account at Raiffeisen Bank.
  • For clients who hold a Term Deposit at Raiffeisen Bank, it will match the currency of the deposit.

The maximum term for the Overdraft on your salary will be according to your request during the application at the branch and for as long as your salary continues to be credited to your current account at Raiffeisen Bank, but not beyond age 60 for women and age 65 for men.

After that, it will continue until you terminate your employment relationship with your employer or when it is verified that your salary is no longer passing through the Bank.

No guarantor is required for applying for an Overdraft.

If you sign the contract but decide not to use the funds, you do not pay interest. Interest will only be applied when you use the Overdraft limit.

  • The bank will calculate interest only for the period and amount of the Overdraft used.
  • Interest is calculated daily on the debit balance of the current account, starting from the first day of Overdraft usage. Interest is variable on a daily basis, according to changes in the base interest rate. If the limit is approved but not used during the month, the bank does not apply any interest for this product to the client's account.
  • In case of usage, interest will be calculated at the end of the month and charged at the beginning of the following month.
  • Interest is variable on a daily basis, according to changes in the base interest rate (e.g., the 12-month Treasury Bills).

Monthly interest calculation will be done as per the example below:

Example:

Approved loan amount = 100,000 Lek

Used loan amount = 50,000 Lek

Loan usage period = 1 day

Latest published 12-month Treasury Bills interest = 2.75% (assuming the Treasury Bill value remains unchanged)

Fixed credit interest rate = 10.40%

Total credit interest = 13.15% (2.75% + 10.40%)

Standard interest amount = 50,000*(2.75% +10.40%)*1/365 = 18.01 Lek

  • The interest on the Overdraft on salary must be paid at the beginning of each following month.
  • The interest on the Overdraft with a deposit is calculated daily and paid at the end of the deposit term, along with the settlement of the Overdraft obligation. Interests are reflected in your account one day before the deposit term ends, not monthly as in the case of the Overdraft on salary.
  • The repayment of the Overdraft on salary is done automatically when the current/salary account is credited.
  • The Overdraft can be repaid and closed at any time without a fee, as long as you credit the used amount, including the interest calculated up to that moment, into the current/salary account.

You must fully repay the amount used from the Overdraft limit on your salary before its expiration, as a delay in repayment may affect your credit history.

No, it is not automatically renewed. More information about the process can be obtained by visiting any branch of Raiffeisen Bank.

  • Yes, it is possible. Converting the Overdraft into an installment loan is considered a situation of financial insufficiency and is regarded as restructuring.
  • More information about this process can be obtained by visiting any branch of Raiffeisen Bank.

More information about the used amount of the Overdraft and the interests applied from its usage can be obtained:

  • By visiting any branch of Raiffeisen Bank, where you can receive a statement of account movements for the Overdraft;
  • Through the Raiffeisen ON platform, where you can monitor your current account and Overdraft at any time, 24/7.