Nordea Bank offers a new overdraft card with grace period

09.09.2009

Nordea Bank offers a new overdraft card with grace period

OJSC Nordea Bank (formerly known as JSB ORGRESBANK) has proceeded to issue VISA and MasterCard cards with grace period of up to 56 days. Within this period the card-holder may withdraw funds on an overdraft basis free of charge.

The overdraft limit for a card is determined on a case-by-case method for 1 year, with further prolongation option. The limit is capped at 12 thousand EUR or its RUB and USD equivalent. The currency of an overdraft depends on that of the card account.

Payments are due by 25th of each calendar month, following the one when a transaction was performed. This program allows full or partial prepayment. If a card-holder repays in full, he/she is exempted from paying interest and the card limit revolves to the same amount.

Should the card-holder repay in part, a minimal payment being 10% of the principal is to be made, as well as the accrued interest and fees for using overdraft. The amount of a minimal payment is notified to each customer individually. Grace period becomes effective again once the principal and interest are paid in full.

This credit program applies not only to the payment for goods and services, but also to cash withdrawal from ATMs of Nordea Bank or other banks.

Information on the maturity of a loan and the payments (minimal and full) are automatically and freely communicated to the card-holder by way of sending an SMS. All necessary information is also accessible at Customer Support Desk of Nordea Bank and account statements.

Repayments can be made at any of the Bank’s offices, via ATMs of the Bank with cash-in function, transfer of funds from other accounts opened with the Bank, through «Nordea online» system or by remittance from other banks.

Further on our credit products for private individuals, you may find out from the site of Nordea Bank or by dialing:
495 921 21 01 – for Moscow calls,
8 (800) 200 34 77 – General Information Desk for the regions.

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