KBC Advance in Current Account

The limit for the KBC Advance in Current Account is determined on the basis of your financial plans and operational needs. As soon as we allocate that limit to your KBC Current Account, you can use the business credit.

• Interest
  You only pay interest for the period you draw down the credit and the interest charged is tax-deductible.

• Flexible
  If you need a bit more budgetary elbow room than usual, we'll temporarily adjust the limit applying to your account. What's more, you're free to decide when, how often and for how long you use the money.

• No more administration once the credit facility is in place
  No paperwork is involved in drawing down this credit and paying back what you've used. For instance, you don't have to submit any proof of investment.

• Commercial benefits for your business
  Suppliers often offer a discount if you pay them in cash. An advance in current account helps you do just that. And if you want to offer supplier credit to your customers as an incentive, that's possible too.

• Manage it all online
  Our Touch and Online for Business digital services let you easily sign for, monitor and manage your advance in current account online. Touch also lets you apply for a new credit facility over the Internet. Find out more about business loans in KBC Touch.

KBC offers several forms of revolving credit for your working capital. For business owners often faced with small cash deficits of up to 5 000 euros, the KBC Business Budget Facility is an ideal choice.

If you are looking for a solution to bridge the gap between your expenditure and income, and you regularly have cash deficits of more than 5 000 euros, we highly recommend the KBC Advance in Current Account or the KBC Business Credit via Straight Loans. These are subject to credit origination and management fees.

To find out more, compare the different solutions for your working capital.

• Interest rate
  The rate is set based on an agreed reference rate plus the agreed margin. The interest rate or reference rate can never be negative. The interest payable is charged to your account at the end of each calendar quarter.

• Additional interest
  If you, exceptionally, draw down an amount over and above the credit limit or you use the advance in current account for longer than the agreed term, you pay additional interest on the amount in question for as long it is overdrawn. The relevant reference rate, the margin and the excess interest rate are set out in the credit contract.

• Credit line fee
  The advance in current account is one of the ways possible to utilise the line of business credit. To draw on this credit line, you pay a fee every three months, which is calculated for the average amount of the line of business credit (or the largest amount drawn down, if larger).
  

• Credit origination fee
  For drawing up the credit contract, you will be charged a one-off origination fee based on the amount of credit granted.

• Management fee
  The advance in current account is a part of a single umbrella credit facility. You pay a fixed amount every three months for the management of the facility.

The amount or the percentage, as well as the method of calculating the above fees and charges, are set out in the credit contract (including the General Credit Terms & Conditions).

You can apply, sign for, monitor and manage your KBC Advance in Current Account online in KBC Mobile, KBC Touch and the KBC Business Dashboard.

Decisions on business credit facilities of up to 150 000 euros should be available within 24 hours of applying online or by appointment, provided your application is complete.

You can apply for, sign, track and manage your KBC Advance in Current Account digitally using KBC Mobile, KBC Touch and KBC Business Dashboard. You can also ask Kate, your digital assistant, to help by heading to the top-right corner of KBC Mobile. Just say: 'I want to apply for an advance in current account'.

Decisions on business credit facilities of up to 150 000 euros should be available within 24 hours of applying online or by appointment, provided your application is complete.

The KBC Advance in Current Account allows you to overdraw your KBC Current Account up to an agreed amount. You draw the credit down by making payments with that account up to the agreed limit. The income you receive on your account is then used to clear the amount overdrawn.

Under KBC Remission of Debt Insurance, KBC Insurance will pay off the negative balance on your KBC Current Account (the one to which the credit is linked) in the event of your death. That way, your family will be protected if you die during the term of the advance in current account. When you take out an advance in current account for your company, it will be covered too.
 

The insurance includes death cover for up to three persons who are no older than 60 when the credit facility starts.

The insurance covers assets up to 100 000 euros.

KBC Remission of Debt Insurance aligns with repayment of your credit facility, so that you’re never over- or under-insured.
 

As with any insurance, exclusions apply. These include:

• Death through suicide by the insured during the first year after signing up to the policy.
• Death of the insured within one year of the policy being signed due to a serious condition (listed in the general conditions) for which they were being treated when they signed up to the policy.