K&H overdraft facility

key information  

• term: 1 year, which may be automatically extended after a review

• credit line amount: minimum HUF 100 thousand, maximum HUF 500 thousand

• repayment: no regular monthly repayment obligation, any payments and credits to your bank account will automatically replenish your credit line

• APR: 27.5%

• collateral: regular monthly payments credited to your bank account

You may view the details pertaining to interest rates and the terms and conditions in the Announcement on the K&H Forint overdraft facility.

Representative example: According to the provisions of Government Decree No. 83/2010. (III.25.) the credit line amount (amount of the credit facility) is HUF 375 thousand, with a 1-year term; the credit line is fully drawn on the first day of the term and is repaid in a lump sum on the last day of the term; the transactional interest and the monthly account management fee of the K&H Retail Bank Account are payable at the end of every calendar month.  The credit line’s interest rate and type: 22% p.a., variable. Commitment fee: 0%. Monthly account management fee: HUF 786.
Based on the above example, an account management fee of HUF 786 and interest of HUF 6 875 - as repayment instalment - are payable each month; the HUF 375 thousand credit line amount is additionally payable in a lump sum upon expiration of the overdraft facility. The commitment fee is HUF 0. The APR is 27.5%. The sum of the fees included in the APR is HUF 9 432 and the total repayable amount is HUF 466 932. 

who is it recommended for?

• private individuals over 18 years of age who are Hungarian residents and have a permanent residence in Hungary

• have at least 3 months of active account management history

• and have regular incoming transfers of at least HUF 150 thousand per month to their bank account 

how much credit line can I apply for?

if you have a K&H retail bank account and you receive income to that account, you can apply for a credit line equalling:

• after 3 months of account management: 100% of the monthly average of your income credited to your account during the last 3 months; minimum HUF 100 thousand and maximum HUF 500 thousand, or

• after 6 months of account management: 200% of the monthly average of your income/pension credited to your account during the last 6 months; maximum HUF 500 thousand

if you have had a bank account with another bank for at least 3 months with an overdraft facility linked to that account, and you now open a K&H bank account, you can apply for a credit line equalling:

• 100% of the previous credit line or 100% of the monthly average of regular credits received during the last 3 months on the bank account managed by your previous bank, whichever is higher; minimum HUF 100 thousand and maximum HUF 500 thousand

• after 3 months following the opening of the K&H bank account (that is, after three credits made to the account), 200% of the monthly average of your salary (or pension payment) received during the last 3 months on the account managed by K&H Bank; maximum HUF 500 thousand.

you may apply for 100 % of the credit line made available at your previous bank if

• you have at least 3 months of active account management history at any other bank and you are able to certify this,

• and you wish to bring your bank account kept with another bank to K&H Bank

what documents do I need for the application?

• Identification document + address card (a valid personal identification document (ID card, passport, plastic driver’s licence) and a document certifying your address)

• Pensioner ID

• Tax card / Tax ID

• Employer’s income certification

• Tax Authority certification (income certification)

• Last month’s public utility bill and the related payment certification (if the bill is paid from a current account, then the last month’s bank account statement instead of the slip certifying payment)

• Bank account statements for the last 2 months (if the applicant is a pensioner)

• Bank account statements for the last 3 months

• Pension payment slip (for the last 2 months)