New Arranged Overdraft

An Arranged Overdraft
could help smooth out
some of life's little bumps

It’s like having a safety net on your current account

Only pay daily interest on the amount you use

Get an instant decision if you bank online with us

Interest-free buffer depending on the current account you have

Could be ideal for short-term borrowing

Overdraft details

Benefits

Get an instant decision

If you bank online with us, apply through Digital Banking. We'll pre-fill your application and let you know straightaway if you’ve been pre-approved.

Have your overdraft the next working day

If we approve you for an Arranged Overdraft, your limit could be applied to your account as soon as the next working day.

Only pay interest on the amount you use

If you don’t use it, you won’t be charged. Simple as that.

Have your statements at your fingertips

We'll send you an email when your statements are ready to view in Digital Banking. You can check it whenever you want.

Get an interest-free buffer

If you have an Arranged Overdraft with us and you stay within the buffer, you won’t pay any interest or fees.

Interest-free buffer – in detail

An interest-free buffer is the amount we’ll allow you to go overdrawn before the charges kick in. The interest-free buffer varies depending on which type of current account you have. See the table below for details.

What you should know

Once you go beyond this buffer, you’ll pay interest and an Arranged Overdraft Usage Fee on the overdrawn balance. If this happens, interest will be charged on your entire balance, including the amount beyond the interest-free buffer.

You could also get Overdraft Control

Overdraft Control is a free service for Select account customers, which can help you avoid going into an Unarranged Overdraft.

Overdraft Control – in detail

Wherever possible, we’ll do our best to stop you going into an Unarranged Overdraft. We’ll do this by returning any payments that would push you beyond your overdraft limit. Although that might sound inconvenient, it means you won’t be charged unarranged or unpaid fees. Find out how to set up overdraft control.

More info

How an Arranged Overdraft could help

If payday is still a long way off and you’re getting a bit short of cash, that’s where our Arranged Overdraft could help.

How our Arranged Overdraft can help – in detail

Sometimes it’s just the general cost of living, sometimes it’s an unexpected bill or expense. Whatever the reason, an Arranged Overdraft is a convenient type of short-term borrowing that can provide a safety net on your current account.

What you should know

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.

Borrow up to an approved limit

When you apply, we’ll decide on an overdraft limit based on your circumstances.

Borrow up to an approved limit – in detail

Here’s an example: if we decide your overdraft limit is £500, we’ll allow you to have an extra £500 to spend even if you don’t have that money in your account. If you choose to use it, you’ll be charged an Arranged Overdraft Usage Fee and interest. 

Unarranged Overdraft

An Unarranged Overdraft is when you spend more money than you have in your account and you haven’t previously arranged an overdraft limit with us.

Unarranged Overdraft – in detail

If you go into an Unarranged Overdraft, we’ll charge you a fee on the amount you go overdrawn. We won’t charge you more than £80 in a monthly charging period for an Unarranged Overdraft or any unpaid transactions.

Charges for an Unarranged Overdraft

 

Unarranged Overdraft Usage fee (for Unarranged Overdraft of more than £10) is £8 per day, with a maximum of 9 per charging period

Unpaid transaction fee is £8, with a maximum of 1 per charging period

Monthly maximum charge is £80

Monthly cap on unarranged overdraft charges

 

Each current account has a monthly maximum charge for going into Unarranged Overdraft or going over your Arranged Overdraft limit.

This cap includes

 

Interest and fees for going over your Arranged Overdraft limit

Fees for each payment Royal Bank of Scotland allows despite lack of funds

Fees for each payment Royal Bank of Scotland refuses due to lack of funds

Please note: we don’t charge Unarranged Overdraft interest.

What might your Overdraft cost?

Ready to apply?

Great, thanks for choosing our Arranged Overdraft. Let's get started. Are you a ...

Our Arranged Overdraft is for customers who already have one of our current accounts. Want to look at our account range?

Do you have a current account with us?

Our Arranged Overdraft is for customers who already have one of our current accounts. Want to look at our account range?

Do you have Royal Bank digital banking?

Great! As we already know a bit about you, applying should be straightforward. Now for the important legal stuff.

To apply online, you must meet these requirements

  • You're aged 18+
  • You're living in the UK 
  • You've not been declared bankrupt over the past 6 years

Important Information

Please take some time to review, print and/or save the important information. By clicking that you're ready to continue, you are confirming that you have been provided with, and acknowledge our important documents

How your information might be used

It's important for you to understand how we use and share your information.  Please read this short summary before you continue with your application.

Are you ready to continue?

Great! Looks like you're all set and ready to go.

To apply for an Arranged Overdraft online you need to be registered for Digital Banking.