Only pay interest if you use it. No fees
- No usage fees or other charges
- You only pay interest if you use the overdraft
From Monday 30th March, for three months, all of our Personal Banking customers using their overdraft will pay less as we’re keeping overdraft interest at their current rates and they won’t pay any fees or charges.
Most customers will pay Representative 19.89% APR (variable) for that period, rather than our standard rate of Representative 39.49% APR (variable). Black and Reward Black customers will remain at Representative 14.89% APR (variable), rather than moving to Representative 19.49% APR (variable).
It’s just one of the ways we’re helping you through the impact of Coronavirus.
To find out more about our Overdraft charges after 30th June, please use our overdraft cost calculator.
An arranged overdraft allows you to borrow money up to an agreed limit on your bank account. So if things are a wee bit tight and pay day feels a long way off, it could be a good way to bridge the gap short-term.
Remember that overdrafts are a way of borrowing money and you’re responsible for repayments if you decide to use one. If you aren’t able to repay what is owed, you could impact your credit score, which most lenders use to decide whether they’ll lend to you.
Have a shot of our eligibility checker tool, which will help you understand if you’re likely to be accepted for an overdraft before you start an application. It only takes a couple of minutes and it won’t harm your credit rating.
Our cost checker tool allows you to see how much interest you’re likely to pay based on how much you plan to borrow, and how regularly you want to use it.
Our online application is available between 6.30am and 9.45pm. Please have your Digital Banking log-in details ready.