Overdrafts
Flexible, accessible funds when you need them
Overdrafts are easy to arrange and give you access to funds whenever you need them. You can use your commercial overdraft for almost any business purpose from the purchase of new equipment to meeting your everyday business expenses.
There are no minimum or maximum levels for borrowing on an overdraft. Your relationship manager will agree your borrowing limit with you.
Key benefits:
- Flexible and accessible – use the money whenever you like within the agreed overdraft term
- Variable interest rate – linked to our base rate
- Daily interest – calculated daily on the amount outstanding, you only pay for what you owe
- Multi currency – available in a range of currencies to reduce your exposure to currency fluctuations
Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.
Product fees may apply. Your relationship manager will be able to advise you of fee information.
For unarranged borrowing, the Bank’s standard Unarranged Borrowing Rate applies. This is currently 29.5%.
