FAQs about the KBC Budget Facility

FAQs about the KBC Budget Facility

How can I check how much of the budget facility is still available on my current account?

  1. Log in to KBC Mobile
  2. Tap 'Start' or 'My KBC' at the bottom of your screen
  3. Select the current account with the budget facility you want to check
  4. Tap the three dots in the top-right corner
  5. Select ‘Balance available’
  6. See what’s still available under ‘Overdraft facility up to’

For how long can I overdraw my account?

If you go overdrawn, you have exactly one month to clear your debit balance. Once your account has been back in credit for at least one day, you can dip into your overdraft facility again.

What will it cost me to go overdrawn?

You only pay for the amount you're overdrawn by and the days your account is overdrawn. We charge interest at a rate of 9.39% on the amount you're overdrawn by. For instance, if you go 100 euros overdrawn for two days, you pay interest of just 0.05 euros.

When will the charges be debited from my account?

Interest is calculated at the end of each quarter. If the debit interest due is more than 2.50 euros (after adding the credit interest accrued), it'll be automatically deducted from your current account and an overview of the transaction will be sent to you.

If it's 2.50 euros or less, the amount concerned will be added to the next quarter’s debit interest. Final settlement takes place at the end of each year, regardless of whether the debit interest due exceeds 2.50 euros or not.

Can I pay off my overdraft over several months?

If you wish to clear your overdraft over a number of months, get in touch with KBC Live or drop by your local branch.

What happens if I go over the limit for my budget facility (for instance, after credit card payments have been debited from my account)?

In that case, your account will be temporarily blocked until you clear the amount that has taken you over the arranged limit.

I’ve gone over the limit for my budget facility. What now?

Once you’ve cleared the amount that has taken you over, you can use your account again.

Can I increase the limit for my budget facility?

If you want a higher overdraft limit than 750 euros, get in touch with KBC Live or drop by your local branch.

Can I set up a second budget facility on another account?

Get in touch with KBC Live or drop by your local branch.

Can I go overdrawn if I’m under 18?

If you are under the age of 18, you cannot apply for a budget facility because it is prohibited by law.

How can I terminate my budget facility?

The KBC Budget Facility can be terminated by the borrowers or by the lender. Notice must be sent by registered post and a notice period of one month needs to be observed by the borrowers (two months by the lender).

Remember, borrowing money also costs money.