Cash Transaction
| Currency | Buy | Sell |
|---|---|---|
| EUR RUB | 86.0749 | 90.7825 |
| EUR CHF | 1.0432 | 1.0903 |
| EUR USD | 1.1569 | 1.1969 |
| EUR GBP | 0.8950 | 0.9231 |
Non-cash Transaction
| Currency | Buy | Sell |
|---|---|---|
| EUR RUB | 88.9319 | 90.1175 |
| EUR CHF | 1.0727 | 1.0846 |
| EUR USD | 1.1806 | 1.1906 |
| EUR GBP | 0.9124 | 0.9195 |
19.09.2020
Overdrafts
RCB Bank Ltd offers local medium-sized businesses operating in the Republic of Cyprus a range of overdraft products in order to address short-term financing needs, with the overdraft with monthly repayment, as well as overdrafts designed to top up working capital with a predefined term of sustained debt. The maximum term for an overdraft is 12 months.
Overdraft with monthly repayment
This type of overdraft is designed to cover short-term shortfalls in cash-flow, with the client being required to repay the overdraft in full at least once a month. In other words, each and every calendar month during the overdraft period, the client is obliged to ensure that a credit balance is maintained on the overdraft account for at least one day.
The overdraft limit is set to up to 30% of the average monthly credit turnover from a client’s main business operations. This type of credit product requires the borrower to transfer operating cash flows and credit turnover to its current accounts opened with RCB Bank Ltd.
Illustration of credit product:
The overdraft applies to a client’s current account with RCB Bank Ltd. Depending on the level of the overdraft limit and the borrower’s financial strength, the Bank may decide on granting unsecured overdraft limit.
Overdraft with a predefined term of sustained debt
This type of overdraft is designed to provide finance to top up working capital, with the overdraft scheduled to be repaid in full within a predefined period of time. The term of sustained debt provided with this facility may not exceed six months. The overdraft applies to a client’s current account with RCB Bank Ltd. This type of credit product requires the borrower to transfer operating cash flows and credit turnover to its current accounts opened with RCB Bank Ltd, and must be secured with collateral.
Illustration of credit product:
The overdraft limit is set on a case-by-case basis, taking into account the client’s financial strength, the average monthly credit turnover from its main business operations, and an assessment of the proposed collateral. At the same time, the value of the collateral must cover the size of the principal, the interest and any risks the Bank may incur if it is forced to sell the collateral.