Currently the calculator below does not reflect the new interest free overdraft limit changes, available from 2nd October 2023.
Please see details below for the new limits, or alternatively visit the Graduate overdraft webpage.
Year 1: Overdraft limit £3250 – Interest 0% This means any overdraft usage up to this limit would cost £0.00.
Year 2: Overdraft limit up to £2250 – Interest 0% This means any overdraft usage up to this limit would cost £0.00.
Overdraft limit from £2250 to £3250 = 39.49%* This means any overdraft usage between these limits would incur costs, to calculate these costs please follow the example and steps below.
*Representative Example: Effective Annual Rate: 39.49% EAR (variable).
Year 3: Overdraft limit £1,250 – Interest 0% This means any overdraft usage up to this limit would cost £0.00.
Overdraft limit from £1250 to £3250 = 39.49%* This means any overdraft usage between these limits would incur costs, to calculate these costs please follow the example and steps below.
*Representative Example: Effective Annual Rate: 39.49% EAR (variable).
Cost Calculation Example
To calculate the cost of using £300 over an interest free buffer of £2250:
Step 1: choose the ‘Select account’ from the drop down option in the calculator (this account charges the same rate of interest that applies beyond the interest free limit on your Graduate account.)
Step 2: use slider or type in amount you want to know the cost, in this example slider would be set to £300.
Step 3: Use slider or type in number of days you would use this amount for
Step 4: costs for using the additional amount of £300 (charged at 39.49% EAR) would be displayed.