Back to main menu
Search
Search
Overlay

What is arranged overdraft interest?

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