What happens when my overdraft support comes to an end?
| Bank Account, Advance Bank Account, Bank Account Pay Monthly and Current Account | Interest free amount | Interest rate above the interest-free amount |
|---|---|---|
| Overdraft pricing during temporary support period | £500 | 39.9% EAR variable |
| Overdraft pricing after temporary support period | £25 | 39.9% EAR variable |
| Bank Account, Advance Bank Account, Bank Account Pay Monthly and Current Account | Overdraft pricing during temporary support period |
|---|---|
| Interest free amount | £500 |
| Interest rate above the interest-free amount | 39.9% EAR variable |
| Bank Account, Advance Bank Account, Bank Account Pay Monthly and Current Account | Overdraft pricing after temporary support period |
| Interest free amount | £25 |
| Interest rate above the interest-free amount | 39.9% EAR variable |
Representative example: 0% EAR (variable) on the first £500, 39.9% EAR1 (variable) on anything above that, giving a representative annual percentage rate (APR) of 21.8% APR2 (variable). Based on an arranged overdraft of £1,200.
How does our overdraft compare? The representative APR shows the cost of borrowing over a year, so you can use it to compare the cost of our overdraft against other overdrafts and ways of borrowing.
These rates won’t apply if you have an account with a negotiated rate (where we’ve separately agreed a non-standard rate for your overdraft).
You’ll receive a letter or email notifying you when your overdraft support is coming to an end. You can use our overdraft calculator to help you calculate the cost of borrowing once the support has ended.
If you’re worried about your overdraft, visit our money worries page for more information and helpful resources. If you’d prefer to speak to our friendly team, give us a call or get in touch using Chat.
Other help or advice available
Keep visiting our cost of living hub to stay up to date.
You can also get free independent advice from:
- StepChange Debt Charity: visit its website or call 0800 138 1111
- MoneyHelper: visit its website or call 0300 500 5000
- National Debtline: visit its website or call 0808 808 4000
- Citizens Advice: visit its website or call 03 444 111 444
The small print
- EAR means effective annual rate. This is how all UK banks must show interest rates on their overdrafts, to make it easier for you to compare one bank’s overdraft with another. Please note that it doesn’t include any fees you might be charged in addition to interest.
- APR (Annual Percentage Rate) is the rate at which someone who is borrowing money is charged, calculated over a period of 12 months. It takes into account not just the interest, but also any other charges that may have to be paid and any interest-free amount.