Overdraft Line of Credit Application

Apply for Dime’s Overdraft Line of Credit

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Nature of Request
Depositor 1 Information
Contact Name
Is this a Joint Account
Depositor 2 Information
Depositor 2 Contact Name
Depositor 2 Address

You may obtain (while I am indebted to you) updated information bearing on my creditworthiness from any source you think may have such information, including any consumer-reporting agency.  I understand you must retain this application, knowing you will rely on this in making your credit decision.  I certify that all statements made in this application are true, and that no one has suggested that I omit any information.  I understand that if so requested, I will be told whether any consumer report was obtained by you in connection with this application.  If so, you will furnish the name and address of the reporting agency.  Under penalties of Perjury, I/We certify that the Tax Identification/Social Security number on this application is correct.  Upon approval, there is a $25.00 Annual Fee for this service, which will be deducted from your checking account.

STATEMENT OF THE MILITARY ANNUAL PERTCENTAGE RATE (MAPR):  Federal law provides important protections to members of the Armed Forces and his or her dependents relating to extensions of consumer credit.  In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent.  This rate must include, as applicable to the credit transaction or account:  The costs associated with credit insurance premiums; fees for ancillary products sold in conjunction the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account).

Federal law requires that you receive a clear description of your required payments.  Please review the disclosures and your credit agreement carefully to understand your payment obligations.

AMOUNT OF MONTHLY PAYMENT:  Each minimum monthly payment will be an amount equal to 1/36th of your principal loan balance owing as shown on your monthly statement.  In addition, you will pay the entire Finance Charge which has accumulated to the end of the monthly Billing Cycle.  If the total minimum monthly payment is less than $15.00, you will make a minimum monthly payment of $15.00.  If the total principal, interest, and other charges due is less than $15.00, you will pay that amount.  Your personal checking account will be charged 28 days after the statement cut-off date.  The Bank will not debit your personal checking account if sufficient clear funds are not available.  You may prepay the outstanding balance in the 

Overdraft Protection in part or in whole at any time without penalty but such payment shall not affect your obligation to make the minimum monthly payment in the succeeding month.  The sum is called the minimum payment.  The amount of any minimum payment already due will not be affected by any new advance(s).   Payments will be applied in the following order:  (a) past due Finance Charges, if any; (b) current Finance Charges, if any; (c) Late Charges, if any; (d) past due advance amounts, if any; (e) current advance amounts, if any; and (f) any new advances posted to the account during the Billing Cycle.  The Bank reserves the right not to debit payments from your checking account, but to require the payments in another manner.

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For Office Use Only:
Dime Direct Employee Initials (if applicable)  ____________________________________
Origination Date: ______________________
Summary: ___________________________
Comments: __________________________

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