What is arranged overdraft interest?

An arranged overdraft allows you to borrow money beyond the balance in your account, up to an agreed limit. It is designed for short-term use only and will incur interest charges when used.

 

Arranged Overdraft

 

• An arranged overdraft is a form of debt and is repayable on demand.

• Always ensure you have enough funds in your current account or an arranged overdraft limit in place before any payments are due.

 

Interest and Charges

 

• We only charge interest if you use your arranged overdraft.

• No other fees apply.

• The interest rate varies depending on your current account type.

• Representative rate: 39.49% EAR (variable).

 

Tools and Resources

 

• Learn more on our Overdrafts page.

• Use our Overdraft Cost Calculator to estimate costs based on your circumstances.