Business overdraft secured | Fusion

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Business overdraft secured

Convenience and flexibility

A business overdraft will give you peace of mind that you have funds in place and available immediately should the unexpected happen.

Our business specialists have a wealth of experience customising business facility programmes to suit the requirements of your business.

Peace of mind

An overdraft gives your business financial flexibility.
Purpose

Pay for stock and other costs without waiting for your sales income.
Rates

Only pay interest on the funds you use.

Available now

We are pleased to discuss the HSBC Fusion service in person at one of our branches. Simply click the below button to arrange an appointment.

Apply now for HSBC Fusion This link will open in a new window

Have a question?

Call our Contact Centre on +356 2380 2389

We`re here from 8:00am to 8:00pm excluding Sundays and Public Holidays.

Purpose

For working capital requirements
A limit that suits your business
Improve your cash flow management by having the option to easily access funds

Purpose

For working capital requirements
A limit that suits your business
Improve your cash flow management by having the option to easily access funds

Minimum – €2,000, Maximum – €100,000^*
A margin over the Commercial Managed Base Rate (presently 2.35%) is applicable on secured overdrafts
The overdraft can be secured by bank deposits or investments, or Malta Government Stock
Overdraft can also be secured by a hypothecary charge over a residential property
A processing fee of 0.3%, minimum €40 is charged upon application
An additional processing fee of €250 is applicable in cases where overdraft is secured by a hypothecary charge over a residential property
A renewal fee of 0.15%, minimum €20 is applicable upon renewal of facility. The overdraft facility is generally reviewed on a yearly basis.

^*Conditions may apply.

Eligibility

Sole Traders\Unregistered Partnerships

You must be residing and paying income tax in Malta
Aged 18 years or over

Registered partnerships\Companies

Registered in Malta
Paying income\corporate tax in Malta

Other eligibility criteria may apply.

Documentation required

Sole Traders\Partnerships

Identity Card
Evidence of income – Income tax returns together with Profit & Loss Accounts for the past two years

Companies

Audited accounts for the past two years

We may also ask for other documentation, depending on the circumstances.

Other conditions

Prior to granting you an overdraft, an assessment on the financial position shall be performed by your business specialist.

The sales turnover is to be credited to the business account on which the overdraft limit will be marked.

We are pleased to discuss the HSBC Fusion service in person at one of our branches. Simply click the below button and provide us your details to arrange an appointment.

Apply for HSBC Fusion This link will open in a new window

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Frequently asked questions

We suggest you visit one of our Branches or else contact our Business Contact Centre on +356 2380 2389.

This depends on the source of finance requested. Loans are usually repayable over the life span of the asset and paid from profits generated from the business. On the other hand if you borrow on an overdraft basis this is repaid from incoming sales receipts or payments from debtors on an ongoing basis.

There are no early repayment fees on Business Loans and you are free to repay the facilities any time before maturity.

The interest rate is fixed for the full duration of the loan. However, the interest rate of the Overdraft is variable and is calculated at a margin over the Bank’s Commercial Managed Base rate, presently 2.35% per annum.

Yes, the bank needs to know the purpose of why a customer wants to borrow money and that the purpose fits within the Bank’s lending appetite.

Preferably better to have a bank account before applying as this will help in the overall assessment even if the bank account is held with another bank. Nonetheless if no bank account is held the bank will be asking for other information as part of its on boarding process.

You can always and still apply for a Bank Loan to finance some sort of new venture or new / additional bank finance. Past performance helps the bank makes a better judgement when applying for a bank loan and the Bank will take into consideration the total commitments of the business.

Once you’ve submitted an application for one of our products, the next stage of the process is for us to fairly and openly assess the risks involved in lending to your business.

The Bank considers as acceptable security for a Business Loan – HSBC Bank Malta plc deposits or investments, or Malta Government Stocks, or other Banks’ deposits or investments and by a hypothecary charge over a residential property.

If you own an untenanted residence in your name, you may consider a HomeOwner Loan to finance your business proposal where repayments will be spread over a longer period. HomeOwner Loans are to be secured by a first General Hypothec and a Special Hypothec over your property.

The term of the loan is to reflect the life span of the asset being financed, and is not to exceed 10 years except when the loan is being used to finance purchase of property and other exceptional circumstances.

Disclaimer

The Site is primarily intended for those who access it from within Malta. Because of this we cannot guarantee that the Site or the information thereon complies with law or regulation of other countries, or is appropriate for use, in other places. You are wholly responsible for use of the Site by any person using your computer and you must ensure that any such person complies with these Terms. The information provided on this Site is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to law or regulation. This Site should not be considered as communicating any invitation or inducements to engage in banking or investment activity or any offer to buy or sell any securities or other instruments outside Malta.

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Business Overdraft - Secured

Convenience and flexibility

Available now

Have a question?

Purpose

Eligibility

Documentation required

Other conditions

Purpose

Eligibility

Documentation required

Other conditions

Frequently asked questions

Related products

Business Overdraft - Unsecured

Business Loan - Secured

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Business Overdraft - Secured

Convenience and flexibility

Available now

Have a question?

Purpose

Eligibility

Documentation required

Other conditions

Brief benefits

Benefit detail

How to acquire it?

Account information

Frequently asked questions

What do I need to apply for a Business facility?

How do I repay?

Are there any fees for early repayment of facilities?

Is the interest rate fixed for the period of the Business Loan and the Overdraft?

Do I need to give a reason why the business wants to borrow the money on the application?

Does my business need a bank account?

What if the business or I have had credit?

How is my application assessed?

What type of security is acceptable to the Bank?

What if I need a business loan for a longer period than 7 years?

Related products

Business Overdraft - Unsecured

Business Loan - Secured

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