Overdrafts Overview

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An overdraft is a revolving credit line that allows Solaris account holders to make withdrawals or payments even if their account balance is zero or insufficient.

Overdrafts function similarly to a credit loan, allowing account holders to withdraw money beyond available funds up to a pre-approved limit. Account holders must pay interest and potential overdraft fees.

Product specifications

Overdrafts are offered to existing customers with a current account at Solaris.

The offered overdraft limit varies depending on several factors, such as account history, net income, and credit score (e.g., SCHUFA). The overdraft limit amounts generally range from 500 – 5,000 EUR, though business limits may vary based on risk assessment.

Eligibility requirements

Natural Persons (Consumers & Freelancers)

• Applicants must be between 18 – 67 years old.
• Applicants must be residents of Germany.
• A credit check via SCHUFA is mandatory.
• Freelancers must have a valid contact address (updated within the last 2 years).

Business Entities

• Must have a valid legal form (e.g., GmbH, UG) registered in Germany.
• Must have an active Business Current Account with Solaris.
• Subject to business risk scoring and credit checks.

Commercial conditions

• Interest: Applied on the negative balance and charged quarterly.
• Term: Unlimited term.
• Repayment: Early unlimited repayments allowed.

Integration guides

Select the customer segment to view the specific integration guide.

API reference

Explore the technical API specifications for Overdrafts.