To apply for a Royal Bank of Scotland overdraft you must be a UK resident, 18 or over and have an eligible Royal Bank of Scotland current account. Subject to approval.
An overdraft lets you borrow extra money through your current account. For example, if you have no money left in your account and you spend £30, your balance would be -£30. This means you’re using an overdraft.
An 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.
Usually, you’ll agree an overdraft limit with your bank or lender – this is known as an arranged overdraft.
There are two types of overdraft: arranged and unarranged.
It's important to remember that both types of overdraft have associated charges but you'll only pay interest if you use it. This interest charge is dependent on your account and you can read full details of this when you apply for an overdraft.
Have a shot of our eligibility checker tool, which will help you understand if you’ll 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’ll pay based on how much you plan to borrow, and how regularly you want to use it.
You can apply for an arranged overdraft online if you are registered for Digital Banking. Compare our range of overdrafts and decide if there's one that's right for you.
Available to eligible Royal Bank of Scotland current account customers, UK residents aged 18 or over. Subject to lending criteria.
You'll need a current account with us before you can apply for an arranged overdraft. Start by exploring our current account range and how you could switch.
Account eligibility and criteria apply.
Our mobile banking app helps you keep track of your spending on the go. Keep an eye on money coming in and out of your account.
You can set up free text alerts and get notifications when your balance goes above or below a certain limit. We can also let you know if you're about to slip into an unarranged overdraft.
If you're unsure which type of borrowing to use, we'll walk you through your options to help you decide what's right for you.
