Finance Seek - Pay your current account credit: practical tips

Credit solution particularly suitable for business use of a current account credit must still be accompanied by certain precautions.

To meet the needs of corporate liquidity, credit, current account itself as a valuable cash management. It is a highly flexible commercial credit and easy to use. Like the cash reserves for individuals, repayment terms are sometimes obscure; here are some tips to effectively manage the current account credit.

A flexible financing solution but costly

• Banking institutions offer this service to companies who need a reserve fund to finance their working capital, investments or face temporary cash flow problems.

• The credit is available without limit and without cost as the company is no recourse. This is a nice safety which allows providing a rapid response to potential contingencies. Once the credit is used, commissions (0.25% per quarter) and a variable interest rate (4.75% on average) are applicable. Like any credit, interest accrues while the loan is not repaid.

• It is in this sense that the rub, the high interest rates make the use of this credit solution extremely expensive to run.

Quickly repay an advance on current account

• Although this credit imposes no deadline, it is advisable to repay quickly. If this credit is refundable immediately aware, however, that the fees due will be calculated on the duration and the highest amount for the current quarter.

• Credit being linked to the account, as soon as money comes back; it fills the auto loan, which makes this solution financing a major advantage in terms of ease of use.

• It is quite possible to take an amortizing loan to repay a credit account. A cheaper alternative that can be considered for dual credit as a management tool: a current account credit for immediately available funds, a credit redeemable following it to repay the overdraft facility as soon as possible.

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Source: http://financeseek.net/pay-your-current-account-credit-practical-tips.html

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