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It gives you immediate and convenient access of borrowing additional funds, up to your agreed limit.  

An overdraft can assist with temporary financial needs, unexpected expenses or emergency costs.  

When you request an overdraft, you agree on a maximum borrowing limit, giving you full control over exactly how you use the facility, as and when you need it. Interest is only paid on amounts borrowed.

  • Receive an instant decision if you've already got an account

You can apply for a new or increased overdraft online or in our app. If you’re accepted, your funds will be available straight away.

  • Stay in control

You can reduce your arranged overdraft limit or ask to increase it in our app or online banking. Note: if you're already overdrawn, you can't reduce your limit to less than you've borrowed.

Frequently asked questions


What's the difference between an arranged and an unarranged overdraft?

An arranged overdraft is where we agree an overdraft limit with you in advance. You’ll then be able to borrow up to that limit. You can apply for this kind of overdraft when opening your account, or at any time later.

An unarranged overdraft is when your account goes overdrawn and you don’t have an arranged overdraft, or you go over your arranged limit. Using an unarranged overdraft can have a negative impact on your credit rating. We may also decline payments that would involve using an unarranged overdraft. However, in most cases we will try to make your essential payments even if you don’t have enough money in your account.

With both types of overdraft, you'll usually have to pay interest on what you borrow (above any interest free amount that applies to your account).

Are there any charges for using an overdraft?

You'll have to pay interest on the amount you've borrowed, at the applicable overdraft interest rate, above any interest free amount that applies to your account.

How much does an unarranged overdraft cost?

You’ll have to pay interest if you have an unarranged overdraft above any interest free amount that applies to your account. 

What should I do if I'm struggling to pay off my overdraft?

If you’re finding it hard to manage your overdraft or financial situation in general, please get in touch. We'll talk to you about your situation and help you find a solution.

How long does an overdraft take to activate?

If your overdraft application is successful, your arranged overdraft limit usually is ready to use straight away.

Can I pay off my overdraft in instalments?

Unlike a personal loan, overdrafts do not involve regularly scheduled monthly repayments. However, we do expect you to make payments into your current account, at least monthly, to reduce what you owe.

Overdrafts are designed for short-term borrowing only. Being in your overdraft for an extended period could lead to you being charged higher amounts of interest. 


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To find out more, please speak to your Relationship Manager.

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