Overdraft - current account

Overdraft - current account

It's time to say "yes" to the new challenges. With the overdraft option from OTP Bank, you can obtain up to 6 net salaries (maximum 40,000 lei) directly in your current account. This way, you never run out of money and enjoy every opportunity.

Creditable amount

Maximum 40,000 lei

Duration of an overdraft

12 months, with the possibility of automatic renewal at maturity.

Monthly refund

Only the interest related to the amount used

Features and benefits of overdraft

  • The amount that can be borrowed is between 600 and 40,000 lei. Up to 6 salaries or net pensions can be obtained, if there is an agreement concluded between the Bank and your employer or pension administration office. Otherwise, you can receive up to 3 salaries or net pensions.

  • You can apply for refinancing of other credit facilities that you have (overdraft, credit card, etc.).

  • You do not need an income certificate to apply for an overdraft if your income information can be verified in the ANAF database.

  • You can benefit from overdraft funds at any time, using your current account, via debit card or OTPdirekt.

  • You reimburse monthly only the interest of the amount used.

  • You can control the transactions made through the OTPdirekt service (push / SMS alerts, Internet Banking or Call Center), but also through the account statement that you can receive monthly at your home address / correspondence *.

  • * the fee for sending the account statement to the domicile / correspondence address is 3 lei / month.

What are the costs of an overdraft?

The interest rate is variable of 11.25% per year, consisting of IRCC and the Bank's margin.

Representative example:

For an Overdraft in the amount of 5,367 lei, granted for a period of 12 months, with variable interest, consisting of the bank's fixed margin of 10% + IRCC *, loan analysis fee 0 lei and monthly current account administration fee 0 lei, considering that the loan amount is fully used and for the entire duration of the credit contract, the effective annual interest rate (APR) is 11.85%, and the total amount payable is 5971 lei.
The product is only available if you choose to receive monthly your income in your current account at OTP Bank.
* IRCC valid between 01.07.2021 - 30.09.2021 is 1.25%.

How can you access an overdraft at OTP Bank?

Our colleagues from OTP Bank branches are at your disposal for details. Let's discuss and choose together the most suitable option for your plans.

It is necessary, first of all, to consider some eligibility criteria:

  • Be over 20 years old at the time of application, but up to 70 years old at the date of the final maturity of the loan;
  • To be a Romanian citizen domiciled / resident in Romania or a foreign citizen resident in Romania;
  • To have a seniority in work, as an employee at the current job of:
    -  Minimum 1 month if there is a salary transfer agreement between your employer and the Bank (except for the probationary period);
    -  Minimum 3 months if there is no salary transfer agreement.

How can you apply for overdraft?

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Incomes accepted

For the approval of the overdraft loan from OTP Bank are accepted:

  • Income from salary;
  • Monthly balance, allowances, bonuses, food incentives and other rights with continuity;
  • Income from pensions in Romania;
  • Income from liberal professions.

Necessary documents

The following documents are required to apply for an OTP Bank overdraft:

  • Identity card (original);

  • Supporting documents for the loan to be refinanced (if applicable)

  • The following forms will be filled in at the bank:

    -  Agreement for consulting the revenues in the ANAF database * and / or Proof of income or supporting documents for the revenues collected;
    -  Credit application (original, standardized form of the bank), which includes:
      -  Declaration on payment obligations, disputes with third parties and group relations;
      -  CRC consultation agreement;
      -  Credit Bureau consultation agreement;
      -  Notification regarding the protection of personal data.

  • * in the case of clients for whom the income is not reported to ANAF, it is necessary to present additional documents (eg employees of MAI, MApN, SRI, Jandarmerie, etc.).
    OTP Bank reserves the right to request additional documents on a case-by-case basis.

OTP Bank își rezervă dreptul de a solicita documente suplimentare, de la caz la caz.

Frequent questions

For the approval of the loan, your minimum monthly net salary must be 1,386 lei or if you have a pension, it must be at least 350 lei. If you get income from several employers, it is acceptable to cumulate them as long as at least one of the incomes is the equivalent of the minimum wage in the economy.

Reimbursement of overdraft involves:

  • to ensure the monthly supply of the current account with the current interest related to the amount used from the overdraft.
  • the monthly payment rate, consisting of interest, will be automatically debited by the Bank on the due date.

The due date is the last banking day of each month.

Provide at least one monthly encashment in the current account to which the overdraft facility is attached. This condition is fulfilled by the monthly transfer by the employer / Pension Administration Office of the salary / pension rights.

You cannot apply for an overdraft with another family member.

Through the account overdraft facility from OTP Bank you can request:

  • overdraft refinancing
  • credit card refinancing
  • refinancing credit for personal needs without a mortgage

The refinanced credit facilities must be at least 3 months old.

Interruptions in work represent the period of time in which you did not have a professional activity. The following are not considered interruptions: maternity leave, medical leave, military service, study leave, leave for temporary incapacity for work.

You can access the overdraft limit at any time like this:

  • by debit card
  • via the OTPdirekt application
  • directly from the current account