Banks that let you overdraft immediately

When there is no time to apply for a loan, you can activate an overdraft. There is even a number of banks that let you overdraft immediately. We tell you how to do it and what’s good about this service.

What is an overdraft in a bank

Overdraft is a service that allows you to debit more money from the current account than it has at the time of payment.

In general, an overdraft is similar to a regular loan or a credit line: by applying for any of these services, you borrow money from a bank. But there are differences.

Overdraft Features


To activate an overdraft in most cases, it is enough to leave an application on the bank’s website, you will not have to look for a guarantor. A response to the request is received from Sberbank within 8 days.

Mandatory payments

After connecting the overdraft, you need to pay:

  • Percentage for the actual use of the service (a grace period is possible);
  • Commission for opening an overdraft limit. Sberbank has 1% of the loan amount for the annual limit;
  • Penalties for late payment, technical overdraft, etc. (depending on the conditions of the bank).
  • Overdraft terms may vary depending on the amount you spend or the time during which you return the money to the bank. If the debt is not covered in time, the bank will increase the basic rate. If you prove yourself as a reliable client, the rate, on the contrary, will be reduced, and in a critical situation they can meet you halfway and restructure the loan.


An overdraft is a shorter-term loan than a loan. On average, they give from 30 to 60 days to repay the debt.

Amount of funds

The overdraft limit is calculated based on the company’s income. This is usually an amount of up to 50% of the average monthly turnover on the current account.

Refund of funds

When replenishing the current account, the funds automatically go to the account of the overdraft debt until it is covered. If you do not return the funds on time and do not pay interest on the overdraft at all, the bank will disable the service.

Types of overdraft

There are four types of overdraft.


When calculating the limit, the bank starts from the turnover of funds on the account.

Overdraft in advance

The service is provided to well-established clients. Such an overdraft is connected regardless of the current financial condition of the company with a focus on future receipts. Payment orders from partners or customers may be required for registration.

Technical overdraft

This is an unintended cost overruns, usually small. It may occur, for example, due to currency fluctuations. The interest on it is several times higher than on a standard overdraft. In case of technical overspending, there are clear and tight deadlines within which the client must repay the debt.

Overdraft for collection

It is provided to the bank’s customers if the current account loan turnover consists of 75% or more of the collected revenue. For registration, business partners can request a guarantee.

How to get and use an overdraft

Each bank has its own overdraft conditions, but there are several general rules.

You will be connected to the service if

  • the business has experience in the main direction (OKVED code);
  • money is received to the settlement account regularly;
  • the company has no unpaid orders and requirements for the settlement account;
  • you are ready to use the service continuously for several months. For example, in Sberbank, this period is at least 6 months.

Overdraft is useful if there is nothing to cover the cash gap — a lack of funds for current expenses.

With the help of an overdraft, you can:

  • buy equipment or raw materials;
  • pay rent or utilities;
  • to issue a salary or business trip;
  • pay taxes.

It is impossible:

  • to pay the debt to the bank;
  • withdraw cash;
  • transfer money to other accounts.