Standby Credit facility

Convenient bridging until the next paycheck!

With a Standby Credit from Hakrinbank NV, you as a client will have the option of withdrawing money as required up to a maximum amount agreed in advance (the credit limit). You may therefore be overdrawn, and the outstanding balance will be settled on a monthly basis with salary payment. The limit of the standby facility is a maximum of 75% of the net income.

Benefits:

• The client decides when and how much they want to withdraw.
• Interest savings, because the bank only charges interest on the amount withdrawn, and during the time that the client is overdrawn.

Rates:

• Debit interest rate: 19% per annum
• Loan commission: 1% per quarter

Who are eligible?

Checking account holders who have been in permanent employment with a solid employer for at least one year, and whose salary is deposited into the checking account with the Hakrinbank for at least six months.