KBC Brussels Advance in Current Account

Starting from 6,000 euros
  • Cater quickly for your financing needs and give your business some breathing space
  • Pay your suppliers in cash and also give your customers more time to pay
  • Manage your KBC Brussels Advance in Current Account
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What is a KBC Brussels Advance in Current Account?

The KBC Brussels Advance in Current Account provides a quick and easy way to bridge the period when payments have to be made, but the income to cover them is not yet on your account. In other words, this type of business credit offers a solution for dealing with temporary cash shortfalls.

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

This form of working capital finance provides your business with extra breathing space and additional commercial benefits. For instance, it puts you in a position to offer payment deferrals to customers or negotiate a supplier discount. You can also readily fund inventories and cover any unexpected expenses.

All there is to know about the KBC Brussels Advance in Current Account

How much can you borrow with the KBC Brussels Advance in Current Account?

The limit for the KBC Brussels 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 Brussels Current Account, you can use the business credit.

What are the benefits of an advance in current account?

  • 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 Brussels Touch.

How does this facility differ from a KBC Brussels Business Budget Facility?

KBC Brussels 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 Brussels 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 Brussels Advance in Current Account or the KBC Brussels 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.

Which charges are associated with an advance in current account?

  • 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).

How do I apply for and manage an advance in current account?

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

How can I protect my family financially?

Under KBC Brussels Remission of Debt Insurance, KBC Insurance will pay off the negative balance on your KBC Brussels 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.

What’s insured?

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

What’s not 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.

More things you need to know

  • Remission of Debt Insurance provides death cover (under the guaranteed-interest (class 21) life insurance scheme).
  • KBC Brussels Remission of Debt Insurance is an insurance product governed by the laws of Belgium.
  • The end of the advance in current account results in termination of the cover of all insured. Any insured person reaching the age of 65 ceases to be covered. All other insured persons will of course continue to be covered.
  • Your KBC Brussels Bank branch is your first point of contact for any complaints you may have. If no agreement can be reached, please contact KBC Brussels Complaints Management, Brusselsesteenweg 100, 3000 Leuven, complaints@kbc.be, tel. 016 432 594 (free of charge) or + 32 78 15 20 45 (charges apply), fax + 32 16 86 30 38. If you cannot find a suitable solution, you can contact the Belgian insurance industry’s ombudsman service: Ombudsman van de Verzekeringen, de Meeûsplantsoen 35, 1000 Brussels, info@ombudsman.as, www.ombudsman.as.
  • This does not affect your legal rights.
  • To request a quote for the KBC Brussels Advance in Current Account and KBC Brussels Remission of Debt Insurance, visit our website or contact your KBC Brussels Bank branch.

For a concise description of the cover, the most important exclusions and other useful information, please refer to the product fact sheet.

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