What is a current account Overdraft?
Current account overdraft are additional funds that you can use if your account balance reaches zero. Overdraft simply increases your available balance.
You can use the overdraft more than once - every amount deposited to your account renews the overdraft!
How does it work? It's easy:
If you have 5000 PLN of your own money on the current account and have an overdraft of 1000 PLN, you can spend 6000 PLN altogether.
You don't pay any interest if you use the overdraft for no more than any 7 days in a settlement month (APR 10.47%).
Extra money for extra expenses
Overdraft is a flexible way of financing your current needs, especially unexpected expenses:
- use Overdraft when you need it and repay when you can
- spend as you like - withdraw cash, pay by card or make transfers
- you don't need to remember about repayment - any inflow of money renews the Overdraft
- you don't pay any interest - if you use the Overdraft for no more than any 7 days/month (APR 10.47%).
Transfer Overdraft to Bank Millennium
See how easy it is. Transfer Overdraft to Bank MillenniumContact with Advisor
Set up Overdraft by phone
Apply for Overdraft at a branch
Straight away during one visit Apply for Overdraft at a branchFind the branch
- Price List - credit products link opens in new window
- Rules and regulations of providing banking services for Individuals at Bank Millennium S.A. - in Polish link opens in new window
- Income certificate - in Polish link opens in new window
- „Oferta specjalna dla limitu w koncie” special offer Regulations - in Polish link opens in new window
- „Limit w koncie osobistym za 0 zł” special offer Regulations - in Polish link opens in new window
- Declaration on resignation from the Agreement of Overdraft - in Polish link opens in new window
Any questions or doubts? Contact us
Information about the loan cost
Detailed information on the special offer and on the authorised overdraft limit, including information on set-up fee and interest rate, is provided in "Limit w koncie osobistym za 0 zł” special offer Regulations, General Rules of provision of banking services to individuals in Bank Millennium SA and in Service Price List - loan commissions, fees and interest rates, available in the Bank’s branches and on www.bankmillennium.pl. Detailed information on the personal account and cards to account can be found in the Service Price List and the General Rules Governing Provision of Banking Services to Individuals in Bank Millennium SA, available in the Bank’s branches and on www.bankmillennium.pl. Interest on overdraft used shall be collected every monthly settlement cycle for the following period: from the last day of the previous month until the last-but-one day of the current month. If the personal account overdraft was used for up to any 7 days in the monthly settlement cycle, interest shall not be accrued (this applies to personal account overdrafts up to PLN 150 000). If the overdraft was used for more than 7 days, interest shall be accrued for all the days of the overdraft and the accrued interest shall be collected on the last business day of the month. Prior to granting of the overdraft limit, the bank, each time, performs assessment of creditworthiness and credit capacity of an Applicant and, in justified cases, has the right to refuse granting of the limit. Minimum overdraft limit is PLN 500.
Representative example of overdraft limit with no set-up fee:
Annual Percentage Rate (APR) is 10.47%, total credit amount (without credit financed costs): PLN 5 756.79, total amount to be paid: PLN 6 332.47, variable interest rate 10%, total credit cost: PLN 575.68 (including: fee 0.00% (PLN 0), interest PLN 575.68, additional services PLN 0, including: insurance PLN 0, PLN 0 – fee for Konto 360° account, in case of booking minimum 1 000 PLN of external inflows on account and minimum 1 payment made with use of card issued to account/BLIK per month; otherwise, monthly account fee amounts to PLN 8, lending term: 12 months, throughout the term limit is fully utilised, monthly interest payment, repayment of principal in a single tranche at maturity. The above has been calculated as on 27.09.2017 on a representative example.