What the Open Revolving Account is
With the Open Revolving Account, the Bank grants you a credit limit you can use according to your needs. The credit limit is set in accordance to your financial statements, your financing needs and the guarantees you provide and is reexamined at an annual basis.
Main features
Biannual interest payment only for the amount you have used
Capital repayment whenever you can
Availability of the capital you have returned when you need to
Floating interest rate, according to standard rates for consumer loans, determined according to the borrower’s credit rating and submitted guarantees.
Benefits
Open-end credit: working capital so you can have constant access to financing when and while you need it
Pledged securities limit: we offer options in case your claims on your clients’ checks is delayed
Combination of the aforementioned features in the same account
Required Documents
In order to make a loan request at the Cooperative Bank of Chania, you will need the following documents:
ID or Passport
Recent income tax statement
A bill from a Public Utility Organization or any other document certifying your address
A current phone bill confirming your phone number.
Where applicable, you may be asked to provide further and/or different documents. Please visit or contact any Βranch of the Cooperative Bank of Chania.
Enjoy flexibility & security for your business!
