Overdraft SECCI Example (Open-Ended Credit)

For overdrafts and other open-ended credit, EU Directive 2023/2225 (Annex III, assumption (h)) and Directive 2008/48/EC (Annex I part II) require the APRC to be calculated on the assumption that the credit is drawn down in full immediately and repaid in three equal monthly instalments.

SECCI.pro applies this assumption automatically when the overdraft product type is selected.

See also the standard consumer credit example and the car finance example.