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How does our overdraft compare?
A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year.
Information Message
An overdraft is a way of borrowing money. If you decide to use an overdraft, you're responsible for paying it back. If you're unable to repay, your credit score could be impacted. Most lenders will use your credit score when deciding what to lend to you.
Increasing my limit
When applying to increase your limit, tell us what you want your new overdraft limit to be, not the amount you want to increase it by.
Remember, increasing your limit is recorded on your credit file and could affect your ability to get credit in the future.
Reducing my limit
The minimum overdraft limit you can have is £250. So if your current limit is lower than £250, you won't be able to reduce it any more.
Keep in mind that if you reduce your overdraft too much, you might go into an unarranged overdraft.
Removing my limit
If you want to remove your overdraft completely, your account must be in credit.
What is an overdraft and what are the costs?
How much does my overdraft cost in pounds and pence?
Choose your current account to view the interest costs when you use a £500 overdraft.
Are you a Student or a Graduate?
Student overdrafts
Our Student bank account comes with an interest-free overdraft:
Initial limit: You can apply for an overdraft of up to £500 when you first open your student account.
Increasing your limit: You may be able to apply to increase your overdraft over time, up to:
- £2,000 from your second term in the first year of your course
- £3,250 from Year 3 onwards (including after you graduate)
Eligiblity: To apply for an overdraft, you need to be aged 18+. You can add an overdraft to your account once your course has started. Overdrafts are subject to status and lending criteria.
Graduate overdrafts
- Up to £3,250 in the first year after graduation
- Manage your overdraft online or in the mobile app (app criteria applies)
Let's start by checking your eligibility...
Please take your time to read this page and decide if an overdraft is right for you. Unsure? Try our borrowing options tool.
We'll start by checking your eligibility – this won't hurt your credit score
It's then up to you if you want to go ahead.
To apply for a new overdraft, or increase an existing overdraft, you must:
- Be 18+ and live in the UK.
- Have an eligible NatWest bank account and pay a regular amount, like a salary, into it.
- Not have been bankrupt in the last 6 years.
- Got a joint account? They must not have been bankrupt in the last 6 years either.
Please note: if you apply on a joint account, we will only assess the eligibility of the person applying.
All good? Here's a bit more info to read: