It's time to say „Yes” to the new challenges. With the overdraft option from OTP Bank, you can get up to 6 net salaries (maximum 20.000 lei) directly in your current account. This way, you never run out of money and enjoy every opportunity in your life.
What are the advantages of an overdraft account?
You do not need an income certificate to apply for overdraft if your income information can be verified in the NAFA database.
You benefit from all funds in your overdraft account at any time, using your current account, debit card or OTPdirekt.
There is no need to justify the purpose of use.
You only reimburse the monthly interest for the amount used.
Enjoy advantageous interest.
No additional guarantees are required.
You can control transactions through OTPdirekt service (push alerts / SMS, Internet Banking or Call Center), but also through the monthly account statement you can receive at your home / mailing address*.
* The fee for submitting the statement of account at the home / mailing address is 3 lei / month.
How can you apply for overdraft?
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Want to know more about the overdraft account?
If you are faced with an unexpected investment or you simply need an extra reserve of money to rely on, the option of an overdraft Loan (overdraft account) is the right solution.
If you are under 65 and an income equal to the national minimum wage, OTP Bank will provide you with this additional help. You can receive up to 6 monthly net salaries if your employer has signed a payroll agreement with our bank or if you currently hold a Mortgage Loan with OTP Bank. If you do not meet one of these two conditions, then the maximum limit you can get is up to 3 net monthly salaries.
The duration of an overdraft Loan is 12 months from the date of signing, with the possibility of automatic renewal at maturity.
The repayment of an overdraft is made monthly. You will only pay interest on the used amount each month, and the principal will be repaid in one instalment, at the end of the period.
To enjoy this cash reserve for emergencies, here are the criteria you need to meet:
Have less than 65 years of age on maturity date of the loan;
Have minimum income equal to the national minimum wage, calculated in accordance with OTP Bank norms;
To be a Romanian citizen resident in Romania or a foreign citizen residing in Romania.
The length of service from the employment must be:
of at least 1 month if there is a payroll agreement between your employer and the Bank (excluding the probationary period);
for at least 3 months if there is no payroll agreement.
For approval of OTP Bank overdraft Loan salary incomes are accepted.
To apply for an OTP Bank overdraft account you must submit the following documents:
Identity document (original);
- Credit application (original, standardized bank form), which includes:
- • Statement regarding payment obligations, third-party litigation and group relationships;
- • CRB consultation agreement;
- • Credit Bureau consultation agreement.
* In the case of clients for whom the reporting of incomes to NAFA is not reported, it is necessary to submit additional documents (e.g. Ministry of Interior, Ministry of National Defence, Romanian Intelligence Service, Gendarmerie etc.).
OTP Bank reserves the right to request additional documents, on a case-by-case basis.
Frequently Asked Questions
What is the minimum income accepted?
For Loan approval, your minimum net monthly salary must be 1,500 lei. If you earn income from multiple employers, it is acceptable to cumulate them as long as at least one of the earnings is the equivalent of the national minimum wage.
Who are the persons authorized to sign the income certificate?
The authorized persons are: General Director, Financial Director, Human Resources Director, Payroll Officer, Accounting Director. It is necessary to complete on the income certificate the exact position of the person having signatory right on the certificate.
As a retiree what credit can I request?
If you are a retiree and your retirement decision is final or reviewable*, depending on your needs and plans, you can apply for personal Loan for retirees, under favourable conditions or, depending on the amount wanted, home equity Loans or Mortgage Loan. You should also take into account the characteristics of the respective Loans, presented on their pages.
* In the case of a periodic review pension, the Loan will be granted only for a period equal to the number of months remaining until the decision expires, observing the minimum duration of the product.
What insurance is required for a Mortgage Loan?
In the case of Loan for the purchase of dwellings, it is necessary to insure the real estate during the entire lending period (facultative insurance policy and mandatory PAD policy).
What are the possibilities for Loan repayment?
To pay your Loan rates, you can either go to OTP Bank branches or make transfers to your current account (where the required amount will be withdrawn at due date). If the Loan is in a currency other than the one in which the current account was opened, the foreign exchange will be automatically made at the due date.
What conditions must a property satisfy to be mortgaged?
In order to be mortgaged, the dwelling must meet the following criteria:
- to represent a property for housing: house, villa, apartment;
- to be unencumbered;
- to be included in the civil circulation;
- to be located in the locality;
- not to be damaged, incomplete or in an advanced stage of wear.
What is the cash withdrawal fee from the current account for your Mortgage Loan?
The credit funds granted will be transferred to the seller's account (opened free of charge for him) and the withdrawal fee from the current account of cash for payments coming from Mortgage Loans is set at 0%.
What happens if the utility bill is on another person's name?
The utility bill is required to be able to check the home address that appears on your Identity Card. It is not mandatory for the utility bill to be on the applicant's name. Instead it is also accepted the documents of ownership.
Can family income be taken into account?
Yes, you can apply for a Loan together with another family member. Both applicants must meet the eligibility criteria for the respective Loan.
Which Loans can be refinanced?
You can use the refinancing procedure from OTP Bank if you have a history of at least 6 months with the current Loan and it is:
- personal Loan with / without mortgage;
- mortgage Loan for the purchase of dwellings;
- credit card;
- overdraft account.
What do interruptions on the Employment Record Book represent?
Interruptions on the Employment Record Book are the time period you have not had a professional activity. The following are not considered to be interruptions: maternity leave, sick leave, military service, study leave, temporary working disability leave.
Can I get a Mortgage Loan if I am on maternity leave?
Yes, you can apply for a loan if you obtain parental allowances. According to the type of product for which you apply, the Bank can request the presence of a co-debtor.
For what period can I apply for a Loan if I have a fixed-term employment contract?
Under these circumstances, you may request a Loan for the maximum remaining period until the expiration of the employment contract, observing the minimum duration set for the respective Loan.
What are the steps to take when I want to get a Loan?
In order to obtain information about our Loans, you must visit any OTP Bank unit or contact the Call Center service at the following telephone number: 0800 88 22 88 (free of charge from any fixed or mobile network in Romania) or at +4021 308 57 10 (also from abroad) from Monday to Friday between 8:30 and 21:00.
In order to know what the maximum amount you can obtain is, ask for an informative budget calculation based on net monthly earnings. If you meet the lending conditions and decide to apply for such Loan, it is necessary to come to any OTP Bank unit with the required documents for the Loan.
The steps for contracting a Loan are:
- performing the preliminary calculation and signing the necessary documents in order to generate the customized offer;
- submitting employee records for case analysis, if applicable;
- submitting documents for the real estate / land and performing its assessment - for Mortgage Loans;
- signing the loan contract and for the Mortgage Loans and the sale and purchase contracts (made at the OTP Bank branch) and payment to the real estate / land seller.