What you'll get with an overdraft from NatWest
An arranged overdraft allows you to go overdrawn up to an agreed limit. So, if payday is still a long way off and you’re short of cash, an arranged overdraft could help to cover an unplanned expense. Think of it as a short-term safety net.
Overdrafts are a way of borrowing money and you're responsible for repayments if you decide to use one. If you're unable to repay what is owed, you could impact your credit score, which most lenders use to decide whether they'll lend to you.
Interest-free overdraft of up to £3,250 (for your first year after graduation).
Year 2 £2,250 interest free buffer
Year 3 £1,250 interest free buffer
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Representative 39.49% APR (variable)
If you have a Graduate account with an arranged overdraft limit of £3,250 following the first year after graduation and you use all of this, you will be charged arranged overdraft interest at 39.49% EAR on £2,250 of the £3,250 limit. Following the second year after graduation you’ll be charged interest at 39.49% on £1250 of the £3,250.
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.