Overdraft calculator

Currently the calculator below does not reflect the new interest free student overdraft limit changes, available from 2nd October 2023.  

Please see details below for the new limits, or alternatively visit the Student overdraft webpage.

Interest-free overdraft up to £2,000 from year one (limited to £500 in term one, year one).

Students can apply for an overdraft up to £3,250 interest-free from year three onwards.

This means any overdraft usage up to these limits for students would cost £0.00. 

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. 

Currently the calculator below does not reflect the new up to £500 interest free arranged overdraft buffer on Premier Select and Reward Black account types. 

For more information please visit the Premier webpage.

You can use the calculator below to work out costs over your buffer amount. 

As an example: If you wanted to know how much using £550 of your overdraft would cost with a £500 buffer, move the slider or type £50 and the number of days you would use this for.