This account offers an overdraft facility (subject to eligibility).
As an example, the interest cost of using a £500 arranged overdraft is:
Time period |
7 days |
30 days |
60 days |
---|
Interest cost |
£3.17 |
£13.59 |
£27.56 |
This is a specific illustrative example representing the interest cost of using a £500 arranged overdraft over periods of seven, thirty and sixty days.
A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year.
Representative Example: Effective Annual Rate 0% EAR on arranged overdrafts up to £10, 39.49% EAR (variable) above £10. Representative 39.16% APR (variable). Assumed credit limit: £1200.