You can get borrowed funds for current expenses by applying for a credit card or consumer loan. Belarusbank clients do not need to enter into new agreements and pay extra fees; they just need to connect the Belarusbank overdraft to their debit card and use borrowed funds at their own discretion.

What is overdraft and how it works

Overdraft involves short-term lending within the limit established by the bank. For private clients, the service is connected to a debit bank card, as a result, the user receives two banking products in one payment instrument - a card for receiving payments, which receives regular receipts, and a credit card.

Borrowed funds are written off when your own money on plastic runs out. When funds are first received into the account, the credit limit is first restored, which can be used again.

Interest is calculated on the amount of loan funds spent by the client. Belarusbank does not provide additional fees for connecting an overdraft. If the client does not use the overdraft established by the bank, no fees or interest will be charged.

Features of overdraft at Belarusbank

The credit institution offers cards with overdraft lending already connected, for example, the Magnit installment card, on which borrowed funds can be used without interest, and cashback is credited for purchases using your own funds. You can set a credit limit for other payment instruments if there are regular deposits into your account.

Belarusbank clients use an overdraft on a salary card and on payment instruments to receive pensions, benefits, scholarships or alimony.

If the client does not receive regular credits to the card account, but has a deposit with Belarusbank, the credit institution can activate an overdraft as part of the “Free Choice” service, in which case the credit limit will be up to 50% of the deposit with the bank.

Conditions for providing an overdraft at Belarusbank

For clients who wish to connect a credit line to a debit card, Belarusbank offers the following conditions:

Type of overdraft	The principle of calculating the maximum amount of the credit limit	Interest rate, % per annum
Quarterly repayment	Average monthly income for the last 3 months	15,4
With a maturity of 6 months	Maximum 400% of average monthly income	15,4
For clients using the Premium package with a repayment period of 10 months	Up to 600% of average monthly income	15,4
For users of the “Optimal” package with a repayment period of 2 years	Based on solvency, maximum 7000 BYN	15,4
For holders of the Prestige Plus banking service package and overdraft debt repayment period of 2 years	Based on solvency, maximum 10,000 BYN	15,0
Holders of VISA Platinum, MasterCard World Black Edition cards and members of the Persona club. Overdraft repayment period up to 10 months	Within the limits of solvency, maximum 20,000 BYN, if there is no trust management agreement and maximum 30,000 BYN, if there is a trust management agreement	15,4

For late payment, sanctions are provided, which consist of a fine of 10% per annum and a penalty for late payment of the loan.

The overdraft limit is valid for the period the card is used. Guarantors and other security for the credit limit are not required.

The “overdraft” service is not provided for the BELKART “Agrarnaya” card, for accounts opened in foreign currency, and for non-residents of the country.

What is needed to obtain an overdraft

Citizens of the Republic of Belarus who have a source of income and permanently reside in the country can apply for a credit limit for a personal debit card.

To obtain an overdraft, Belarusbank requires the following package of documents:

• Applicant's passport;
• Certificate of income for the last three months or bank account statement;
• The client’s consent to provide reports (credit history) from the National Bank of the Republic of Belarus or independently provide a credit history from the National Bank of the Republic of Belarus;
• Consent to the processing of personal data.

All certificates are valid for 30 days from the date of issue.

Documents are submitted to the Belarusbank office along with an application for the provision of services.

How to apply for an overdraft at Belarusbank

The basis for considering the possibility of connecting a credit limit to a debit card is the client’s application form.

You can submit your application in the following ways:

• At the branch of the credit institution where the debit card was opened;
• Using Belarusbank self-service devices;
• On the official website of the financial company or via the link https://belarusbank.by/ru/fizicheskim_licam/cards/uslugi/overdraft;
• Through your personal account in the system;
• In the mobile application;
• Call customer support at 147.

Based on the questionnaire submitted remotely, the bank makes a preliminary decision, announces it to the client and asks to bring a package of documents to the Belarusbank office.

Via mobile banking

In the mobile application, to apply for an overdraft, you need to complete six steps:

Primary identification occurs by the owner’s card number; if the preliminary decision is positive, a package of documents can be collected.

Using Internet banking

In the personal account on the Belarusbank website, the user can submit an application to connect the service, for this it is necessary:

If the decision is positive, the employee will contact the client and inform about the date and time for providing the original documents.

Overdraft for Velvet card

For pensioners in Belarus, the credit institution offers a range of banking products within the “Velvet” club. Along with loans at a preferential rate, deposits with increased interest and cashback, owners of BELKART-Maestro Velkhat can apply for an overdraft to their debit card.

Before you take out an overdraft from Belarusbank on a pension card, you must fill out an application to transfer your pension to a plastic account. After three months from the date of the first receipts, you can apply for a credit limit.

In the online form, you must indicate the first 9 digits of the Velvet card number; the system will automatically determine the owner, set the amount and conditions of the overdraft.

How to use overdraft

The Bank does not impose restrictions on the intended use of borrowed funds. When the credit limit becomes available, the owner of the plastic card decides for himself what purposes to spend the money on.

When requesting a balance, the total amount of available funds is reflected, so the established overdraft amount must be taken into account when planning financial expenses.

The client must repay the overdraft in full plus interest on it by a certain date specified in the agreement. The minimum period during which you can use the limit is 90 days. The bank informs borrowers via SMS about the amount and date of repayment.

The funds received as payment for the overdraft can be used again, with the exception of the amount of interest that the client pays to the bank.

For the Magnit installment card, the overdraft repayment period depends on which retail outlet the purchases were made at; in any case, if the limit is restored within one month, no interest is accrued.

Pros and cons of overdraft lending

Based on customer reviews about overdraft at Belarusbank, the following can be distinguished:

Benefits of using a credit limit on a debit card:

• Overdraft is linked to a valid card, so there are no additional fees for opening new banking products;
• Rewards are accrued only for funds used; if you do not use the limit, there will be no payment.
• The loan term is limited by the validity period of the card;
• After the limit is restored, the credit money can be spent again.
• There are no restrictions on the intended use of funds.
• Fast registration, a minimum package of documents and the absence of collateral or guarantees.

The negative aspects of connecting short-term borrowing include:

• A small credit limit, which depends on monthly receipts into the account;
• The need to repay the entire loan amount within a minimum period;
• When using credit funds, cashback is not awarded for purchases.

Conclusion

For clients wishing to use borrowed funds in small quantities, an overdraft on a debit card is best suited. Before connecting, you need to find out what a revolving credit limit is and how it works; after that, planning your personal budget will become much easier.

One of the options for obtaining a loan for a short time is an overdraft. It will be credited to the debit card account where wages, pensions, or social assistance are credited.

Using this loan option, you can pay for various services and goods when you do not have sufficient funds in your account. The owner of this card will determine when this money can be used and in what amount.

Main conditions of a loan called overdraft

The main condition of this type of lending will be that no interest will be charged when the cardholder does not use it, despite the fact that it will be issued. All interest will be accrued only for the actual time of using such a loan. The overdraft will only be repaid when different income options are received into the account.

In order to activate such a service, you will need to contact the bank branch where the agreement on creating a current account was previously concluded. Also, the client will again need to provide documents confirming his identity, as well as a certificate of his income, in a standard form.

Also, this loan option can be issued using a mobile offer, namely, at special information kiosks, or at, or by calling the service center using the number combination 147.

Such a loan can also be issued as a special product called “free choice”.

In this case, it does not exceed half of the deposit amount.

Additional overdraft agreement

A sample of this type of agreement can be very easily found on the website www.asb.by. This certificate is provided by Belarusbank. It acts in the form of a public offer. The bank operates on the terms and conditions that will be specified in additional agreements specified in the agreement itself.

This is one of the most advantageous offers that the bank provides today. Credit funds can significantly make the lives of modern customers easier. This option will sometimes even be a saving option when there is no money in the account.

Almost every person has faced the problem of not having enough money to make a purchase. In such a situation, you can ask for a loan from friends, relatives, or borrow money from the bank for a very short period.

Definition

An overdraft is a loan issued by a bank to replenish an individual’s account. Its main difference from a consumer loan is that it can be renewed multiple times during the term of the contract. In addition, the loan must be repaid at least once a month, and interest is calculated on the entire amount of the debt.

What does a potential borrower need to know?

An overdraft is a revolving line of credit. Provided that the debt is repaid on time, the funds can be used an unlimited number of times. This is very convenient for clients who value their time and cannot apply for a new loan every time.

Such a loan costs much less than “payday money”, which is provided today by microfinance organizations.

The interest rate in all banks is floating. It depends on the client's income level.

Overdraft can be not only officially issued, but also technical. In the second case, a negative account balance may occur after converting funds or withdrawing cash from an ATM with a large commission amount. In the event of a technical overdraft, the bank provides 35 days to repay the debt. Otherwise, penalties will be applied to the client.

In case of untimely receipt of income on the card for any reason, sanctions will be applied to the client in the form of an increase in commission or a decrease in the limit.

Lending institutions also charge fees for withdrawing funds from any ATM.

For some time now, it has become a practice to sell an overdraft at the same time as registration. This may come as a big surprise to many quitting employees. Indeed, in case of delay in transferring income, penalties will be applied to the client.

Peculiarities

Overdraft is issued only to existing clients of the credit institution. Funds are transferred to an open account. Most often, a salary card is used for this purpose. This account is replenished twice a month, and funds can be used an unlimited number of times. The funds limit is set by the bank based on the client’s income level. If your own funds on the card are not enough to make a purchase, then the overdraft service is automatically activated. That is, the client will be able to pay for the purchase with his salary card, but at the expense of borrowed funds.

An overdraft is the same loan on which interest is charged. That is, the client will still have to return the principal amount and accrued commission to the bank. Unlike a regular loan, the loan is repaid immediately after funds are transferred to the account, and a commission is charged on the amount of money used. If, for example, a client received a loan in the amount of 100,000 BYN, but used only 10,000 BYN, then interest will only accrue on this amount until the debt is repaid.

Today we’ll talk about how to get an overdraft at Belarusbank.

How to apply?

An application for an overdraft from Belarusbank can be submitted directly on the credit institution’s website in the section of the same name. To fill out an application for a loan through Internet banking, just go to the “Additional services” section of the “Accounts” menu. In M-banking, the corresponding menu item is located in the “Services” section. You can also submit an application by contacting one of the branches of OJSC Belarusbank.

An overdraft on a salary card is provided based on the calculated limit. The latter depends on the level of monthly income and cannot exceed 200 basic units. The completed application goes to the credit department of the bank at the place where the account (card) was opened.

Employees of the same department will inform the client about the results of the preliminary decision via SMS or in any other way chosen by him. If the application is approved, the client will be invited to the office to provide the originals of the submitted documents and sign the contract.

Belarusbank issues an overdraft if you have a passport and a certificate of income for the last two quarters.

Conditions

OJSC Belarusbank provides loans for salary cards under two programs, which differ in limits, terms and fees:

1. Maturity once per quarter. Overdraft "Belarusbank" provides for a year in the amount of twice the monthly income for the last six months. Interest rate = SR + 9 p.p. (as of 11/01/16- 29%). The validity period of the loan cannot exceed the validity period of the card accounts

2. With a repayment period of once every six months. Overdraft "Belarusbank" provides for a year in the amount of 400% of the monthly average income for the last six months. Interest rate = SR + 10 p.p. (as of 11/01/16- thirty%). The validity period of the loan cannot exceed the validity period of the card accounts This service is not provided to clients whose work experience was less than 1 year at their last place of employment.

The previously existing program with a monthly repayment period from 08/01/16 was closed.

Potential borrowers must meet the following requirements:

• be listed as individuals or individual entrepreneurs;
• have an impeccable credit history in the past;
• have a bank account through which transactions have been carried out over the last three months.

How to use Belarusbank overdraft?

By signing up for this service, the client will be able to pay bills with borrowed funds from his card. The plastic holder himself determines when, in what volume and on what to spend the overdraft. Belarusbank charges interest only on the actual amount of debt. If a client has signed up for a service but does not use it, then he will not pay a commission. Overdraft is activated automatically when the client pays an invoice whose amount exceeds the balance of his own funds. Loan repayment is also carried out automatically after income is credited to the account.

Credit vs Overdraft

At its core, an overdraft is very similar to a consumer loan, which is provided on cards. The loan amount in both cases depends on the salary level. However, the maximum loan amount is higher than for an overdraft from Belarusbank. Interest on cash withdrawals from the account is 4%. The rates for using funds are the same in both cases. However, when applying for a loan, interest is charged on the entire amount of the outstanding debt. No collateral or guarantee is required to apply for an overdraft at Belarusbank.

Customer Reviews

The main advantage is ease of use. To apply for a loan, simply submit an application online. If the client already has a salary card, then there is no need to provide a certificate of income. After preliminary confirmation of the application, the bank manager will contact the client to set a time and place for a meeting with a branch employee. Already at the office of the credit institution, the client will be given a loan agreement for signature. After this, you can use the overdraft an unlimited number of times.

Debt repayment is carried out automatically after replenishing the account. On the one hand, the client does not have to look for an ATM or terminal to pay the next installment. On the other hand, in case of overdue debt, the account will be blocked until the loan is fully repaid. In addition, the bank may apply other penalties in the form of lowering the limit and increasing the rate. The disadvantages of an overdraft also include a small credit limit and short contract terms (from 3 to 12 months).

Other options

Having examined in detail the conditions under which you can apply for card loans at Belarusbank, we will study other offers.

Market rates for servicing such loans range from 33-48%. At the same time, clients have to pay 34-42% for a consumer loan.

The lowest rate on the market is offered by BelVED Bank. The “Spare Pennies” loan has a commission of 33%. For using a similar product, clients of Fransabank and Zepter Bank pay 39%, Technobank and Priorbank - 40%, BNB-Bank, Bank Moscow - 42%. Overdraft is the most expensive for VTB Bank clients - 47%. At the same time, many financial institutions provide a grace period of 10-30 calendar days, during which interest on the loan is charged at a rate of 0.0001%.

Free withdrawal of funds from the account is provided only with MTBank, RRB-Bank, and Bank Moscow cards. A similar operation in Zepter Bank is charged at a rate of 2.5%, in Technobank - 3-5%, depending on the tariff plan.

Alfa-Bank provides a similar service only to salary card holders. The limit amount is 300% of the average monthly income. The interest rate increases with the length of the loan. When withdrawing funds from the account, a 2% commission is charged.

« Belagroprombank» also offers its clients two programs to choose from. For the first 90 days from the date of signing the agreement, overdraft is provided at 10% per annum. From 91 days the rate of 13% begins to apply. Exceptions include salary project participants and employees of agricultural enterprises. Overdraft is provided to such clients at 12.5% ​​per annum. The initial loan amount is limited to BYN 5,000, and the maximum is 200,000 BYN. The application is reviewed within two days. Funds are transferred to the card that monthly income is received: salary, profit from business activities, pension.

"Belarusbank" provides credits to cards based on income level, but at "BSP-Sberbank" the first overdraft can be obtained for a maximum amount of 10,000 BYN at 16%. The application is reviewed within two working days. You can repay the loan within a year from the date of debt formation. Not only citizens of the Republic of Belarus, but also stateless persons who have a permanent source of income can receive an overdraft.

Conclusion

Overdraft is a good way to get borrowed funds in an emergency, but you need to use this service very carefully. It's even better to activate it only when absolutely necessary. Overdraft is addictive. First, the client takes out borrowed funds “for important needs,” but after a couple of months he can no longer stop, since the limit amount is constantly increasing, and the proceeds are not enough to fully repay the debt.

Overdraft is a form of short-term lending that allows the client to pay for goods and services with funds that exceed his loan proceeds. It is issued when there are not enough funds in the client’s current account, that is, the borrower receives a loan in an amount that exceeds the balance of his funds. An overdraft differs from a regular loan in that the debt is repaid with all funds received into the client’s account. Depending on the bank’s credit policy, the client may be given a grace period during which interest will not accrue.

For using an overdraft, the client pays interest to the bank, as well as for the time spent using borrowed funds. It may also be withdrawn for the opportunity to use the service.

Overdraft for individuals

Under this agreement, the period for providing borrowed funds does not exceed 6 months. After the opportunity to use the overdraft limit, the client is not required to use it immediately. It is more profitable to borrow funds when necessary, since in this case the cost of paying interest is significantly reduced.

An overdraft can be obtained by an individual who has a bank account linked to a debit bank card. Having a credit card greatly simplifies the procedure for developing a credit limit. The interest rate on an overdraft is significantly higher than on targeted loans, since the lack of collateral increases the risk of loan non-repayment.

Terms of service

The conditions for providing an overdraft may vary from bank to bank. The main thing is that the borrower has a fairly stable financial position and makes regular payments.

To obtain an overdraft, you must write a loan application and fill out a standard personal data form. It is also necessary to have a document confirming citizenship - a passport and another document (driver's license, health insurance policy, foreign passport, etc.). You should also take a certificate from your place of employment, which confirms your income.

The borrower must be a citizen of Russia and reside in the territory served by the selected bank. Having a job and work experience may also be a prerequisite (some banks require 6 months or 1 year of work experience)

Registration deadlines

The period for drawing up an agreement to receive an overdraft is no more than 6 months. The size of the loan provided is determined by the client’s needs and his ability to repay the loan. The limit is set by the bank, determining it based on the average monthly income that has come to the client’s account over the past 3-6 months. When withdrawing funds, it decreases, and when depositing, it is restored.

Overdraft repayment

The borrower must make regular payments on time, the amount of which is stipulated in the loan agreement. Interest is calculated on the actual debt. In this case, funds can be withdrawn as needed within the established limit. Typically, overdraft repayment occurs automatically, for example, when payroll is processed.

If your salary was delayed for any reason by the employer and you are unable to deposit funds, the bank will charge penalties and may reduce the overdraft limit.

Overdraft Belarusbank is a short-term type of loan that is issued by a banking institution and is suitable for card account holders. An overdraft loan can be used by those clients who have current accounts at Belarusbank. Once you have found out what it is, you can safely apply for an overdraft at the bank for different periods.

It is beneficial for individuals to use an overdraft, since it is accompanied by a favorable percentage and a period during which the client does not have time to go completely into debt. An individual limit is set on the Belarusbank card, which cannot be exceeded, and this will help save personal funds.

Such a loan offer meets the needs of most clients - you can both receive money and use the amount wisely within limited limits.

Overdraft - what is it?

Overdraft refers to short-term credit products, which holders of card or current accounts of Belarusbank can apply for.

Access to loan is provided if you have a payment card with constant crediting of various types of payments (this can be a Belarusbank salary card). The cardholder himself decides how much and when to use a short-term loan.

Calculation example

Types of overdraft for Belarusbank clients:

• With repayment period at three months

• WITH for a month repayment – ​​a limit of 13.5% is set.

• With maturity within six months– provided at 13.5%.

Video on the topic:

Features of overdraft at Belarusbank

What is the difference between an overdraft and a full-fledged credit product? This type of loan is short-term, and the loan is issued for an n-amount of money, which the borrower spends at his own discretion.

You can apply for an overdraft within the established limit and use money only with a limit restriction, unlike a regular loan. In conditions of short-term lending, it is more convenient to use it by connecting a salary or other Belarusbank account.

How to get an overdraft for card account holders? This is done through concluding an agreement with Belarusbank.

To do this you must present:

• Valid passport.
• An extract confirming receipt of income on the card within three months or a direct certificate.

Alternative registration option – online application

Belarusbank makes full use of mobile banking, therefore clients have the opportunity connect a short-term loan to a salary card without queues.

Repayment is carried out in the usual way, therefore, no one will have any difficulties with this procedure.

Overdraft conditions at Belarusbank

If you have a Belarusbank card, you can use it with maximum capabilities.

If necessary, you can arrange an overdraft at the nearest branch or using mobile banking.

A short-term loan is provided under a single program and is distinguished by a limit limit, which is calculated individually for each plastic holder.

Terms of short-term lending	Peculiarities	Additional Notes
If the client does not use an overdraft, but has issued one, then interest is not charged	Not a penny of loan funds should be spent	-
The interest rate is calculated only on the money actually spent	% depends on the period for which the loan is taken	Interest from 12.5 to 13.5%
The repaid amount can be successfully used again	The purpose of using the funds does not matter	-
To successfully apply for an overdraft you need to have active cards in ASB Belarusbank	Basically, the role of such payment cards is played by salary or pension cards.	-
Before applying for an overdraft, you must carefully read the agreement	The agreement for the provision of credit money can be confirmed by certificates
You can also submit a request for registration using M banking or an information kiosk	An additional agreement is not drawn up without visiting the client	-

Requirements for the borrower

When applying for a short-term loan, Belarusbank issues such requirements:

• A person who has turned 18 and has a salary or social benefits.
• If registration is accompanied by “Free Choice”, then the amount cannot be higher than 50% from receipts.

• Interest is automatically calculated only for the amount used.
• The client must have stable income on the card.
• Short-term loan amount can be used again.

An overdraft is issued either at the branch or through use.

The main step in this procedure is drawing up an application. The banking application provides a special “Services” section, where you can submit an online application (upon review, the institution’s employees will contact the client to clarify details).

When contacting a branch of a credit institution, need to take with you basic documents that will help you apply for an overdraft.

Please note the list of required documents

The loan amount is provided on a credit card within a certain limit– depends on the monthly income limit and cannot be more than 200 units. Short-term loans are issued only to Belarusbank users, and the necessary funds are transferred to any open account.

How to use Belarusbank overdraft?

You can use an overdraft as your personal funds, which are withdrawn from the card or spent on purchases. The holder decides for himself What should he spend the loan amount on?. Money is provided according to a simplified scheme to an open account in domestic currency.

Schematic representation of obtaining an overdraft

Apart from the prime credit rate there are no hidden interest rates and compared to a credit card this product is more practical. Short-term loans are not always suitable for corporate clients, so ordinary cardholders use them.

How to repay a short-term loan? Repayment is carried out in accordance with the rules of the agreement. The total amount must be repaid before a specific date (you need to put on the card not only the money borrowed, but also the interest). The revolving credit line can be used again when it “breaks down”.

They request an overdraft for simple purchases and even tuition fees. The terms for the client are most suitable and depend on the financial capabilities of the personal account.

Advantages and disadvantages of overdraft

Analyzing the reviews, we can highlight several advantages and disadvantages of overdraft. Many users call this loan “a fly in the ointment and honey in one,” since there are good features of the application, but there are also disadvantages.

The loan is issued via bank transfer and is classified as a quick loan. It is convenient to use this banking offer on business trips or in other unforeseen situations when you urgently need to use a specific amount.

Pros:

• % is accrued only for actual Ʃ used.
• Funds are automatically credited to the account.
• Can use repeatedly loan amount.
• Issued cashless.
• Interest calculation and repayment happens quickly and without delays.
• Has no intended purpose.

Minuses:

1. The limit is clearly tied to salary.
2. Small loan amounts.
3. Short term repayment.