Bank Account Overdraft - Apply for an Overdraft - Royal Bank of Scotland

Applying for a new Arranged Overdraft

No set-up fees, no hidden costs

Applying for an Arranged Overdraft Completing your online application

An Arranged Overdraft is where you agree a borrowing limit with us in advance. This enables you to spend money up to that limit.

To apply online you need to:

be 18 or over, UK resident and have an eligible Royal Bank of Scotland current account

have your online banking details ready

make sure you don't apply for more than the recommended maximum we can offer you

You cannot apply if you have a Basic or Adapt Account.  

If you don't bank online with us, find out how to register. There's just three easy steps, you could be up and running in minutes. You could then use your new details to complete an Arranged Overdraft application. Online Banking is available to those aged 11 and over who have a Royal Bank of Scotland account. 

Royal Bank of Scotland Overdrafts Important Information

An Arranged Overdraft is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Arranged Overdraft limit in place, before any payments are due to come out of your account. 

If you don't have the available funds for payments leaving your current account, they may be returned unpaid. If this happens there is an Unpaid Transaction Fee of £6 charged for each transaction we reject (Subject to a maximum of £60 per charging period). 

Unarranged Overdrafts:

We recommend you avoid going in to an Unarranged Overdraft. This occurs when you spend more than you have in your current account without an Arranged Overdraft, or, where you go over your Arranged Overdraft limit.

If you enter an Unarranged Overdraft by more than £10, you will incur an Unarranged Overdraft Usage Fee of £6 for each day you remain in this position (Subject to a maximum of £90 per charging period).
 
Learn more about overdraft charges

RBS Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates;  Helping you get the most from your Personal RBS Current Account (PDF, 1MB)

Applying for a new Arranged Overdraft Ready to apply?

If you have a Student Account or Graduate Account, you can still apply for a new Arranged Overdraft or request a change to your existing Arranged Overdraft online, but there's a little bit more we need you to read first. 

Further information How can an Arranged Overdraft help you?

There's no set up fee or hidden costs
An Arranged Overdraft can be much more affordable than using an Unarranged Overdraft and is typically suited to borrowing for shorter periods of time. Use our Overdraft cost calculator to learn more.

It could provide reassurance
An Arranged Overdraft can help if an unexpected payment or bill is due to come out of your current account. It can also help if you spend a little more than you planned!  

It could give you flexibility
Unlike most other forms of borrowing, there's no set minimum amount to pay back each month. However, it's still a form of debt so try to pay it back as quickly as you can to minimise any fees and interest. 

 

Accordion

Icon expand How does an Arranged Overdraft work?

An Arranged Overdraft is where you agree a set limit with us, that lets you spend more than you actually have in your current account. For example, if you successfully applied for an Arranged Overdraft of £100 and then only had £50 of your own money in your current account, the Arranged Overdraft would allow you to make a payment of up to £150. There's no set up fee when you apply for an Arranged Overdraft (although there can be Usage Fees and Interest charged for actually using it), but they often work out cheaper than using an Unarranged Overdraft.

Overdraft costs Use our overdraft cost calculator

Overdraft costs can be a little confusing, so we've built an easy to use calculator to help make them clearer. 

Find out what it could cost to use an Arranged Overdraft for a certain number of days. You can even work out what you might be charged if you accidentally go over your agreed limit into an Unarranged Overdraft.

Calculate overdraft costs

All costs shown by our calculator are for illustration purposes only. Your actual costs may vary.

Royal Bank of Scotland Overdrafts Important Information

An Arranged Overdraft is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Arranged Overdraft limit in place, before any payments are due to come out of your account. 

If you don't have the available funds for payments leaving your current account, they may be returned unpaid. If this happens there is an Unpaid Transaction Fee of £6 charged for each transaction we reject (Subject to a maximum of £60 per charging period). 

Unarranged Overdrafts:

We recommend you avoid going in to an Unarranged Overdraft. This occurs when you spend more than you have in your current account without an Arranged Overdraft, or, where you go over your Arranged Overdraft limit.

If you enter an Unarranged Overdraft by more than £10, you will incur an Unarranged Overdraft Usage Fee of £6 for each day you remain in this position (Subject to a maximum of £90 per charging period).
 
Learn more about overdraft charges

RBS Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates;  Helping you get the most from your Personal RBS Current Account (PDF, 1MB)

Applying for a new Arranged Overdraft Ready to apply?
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