The right to an overdraft is given to current account holders who derive regular income as a salary, pension or from a Produce Purchase Agreement.

After the first salary or pension has been paid into account, the client may submit a request for overdraft. The Bank does not charge a fee for overdraft approval. Overdraft is approved to a period of 12 months in the amount of average monthly income from salary/pension plus 50% of this amount, after the Bank has checked that the current account is in order and after a report from the Credit Bureau has been obtained.

 The Bank charges annual interest rate of 31,75% of the amount of used overdraft. Pensioners are charged a reduced interest rate of 28,75% a year. Nominal interest rate on authorised overdraft is fixed and is calculated using a compound method.  

Apart from nominal interest rate, included in the effective interest rate are the fixed expenses incurred by the client at the moment of submitting a request. These are:

  • 246 RSD to obtain a report from the Credit Bureau, according to the tariff of the Association of Serbian Banks
  • 50 RSD for the promissory note form, according to the tariff of the National Bank of Serbia.

Calculation of effective interest rate as at 31/01/2013 is explained in the representative example.

If the client exceeds the authorised overdraft or does not clear the negative balance before the overdraft expiration date, the Bank will charge the agreed interest rate that applies on unauthorised overdraft.

Interest rate on unauthorised overdraft is variable and amounts to 40 p.p. per annum, increased for the annual growth rate of consumer prices. Interest rate is adjusted for the growth rate of consumer prices twice a year, on every March 1st, against the growth rate of consumer prices in the previous calendar year and on September 9th, against the growth rate of consumer prices in the period from June 30th of the previous year and June 30th of the current year. 




Regular income from salary/pension

Required documents

Overdraft application form


Amount of overdraft

up to the amount of regular monthly income increased by 50%

Repayment period

up to 12 months

Overdraft clean-up

on expiration date

Interest rate

31,75% annually, fixed

pensioners – 28,75% annually, fixed


Promissory note/Letter of authorisation

RSD 50.00

Cost of obtaining report from the Credit Bureau

RSD 246.00

Effective interest rate (annually)

32,64% annually,

29,61% annually,

Representative example:


Representative example:


Amount: 50,000.00 rsd

Amount: 50,000.00 rsd

Repayment period: 12 months

Repayment period: 12 months

Total interest: rsd 13,940.92

Total interest: rsd 12,764.49

Total amount: rsd 63,940.92

Total amount: rsd 62,764.49

Effective interest rate calculated as at 31/01/2013