(1) Maximum extent of overdraft period does not exceed 1 year, starting from the day the overdraft agreement takes effect. Overdraft can be made on revolving basis during the effective period;
(2) Overdraft term is the period during which successive overdrafts are executed by the customer, without making any repayment. Generally, this occurs within ten days and the maximum length of the term cannot exceed 3 months;
(3) Overdraft interest rate is generally the same as one-year RMB loan interest rate (inclusive of floating rates) executed by the People’s Bank of China;
(4) Calculation of overdraft interest is based on the daily accumulated amount. Calculation of such amount is based on the maximum amount of overdraft balance registered on the day of calculation.