• Business Overdraft

    With our Business Overdrafts, you can make sure that extra funds are available for when you need them.

    Key Features & Benefits

    Tick Free to set up an overdraft with a limit of £5,000 or less.
    Tick Simple Pricing
    Tick Only pay interest on funds you use
    Tick Apply for a limit that suits your business needs.
    Tick Once approved, provides immediate access to funds.
    Tick Helps you manage your cash flow and working capital.
    Tick Ensures funds are available when you need them, helping you to avoid unauthorised borrowing charges.

    Get a quote online in minutes (your credit rating will not be affected).



    Business Overdraft Pricing

    Tick 10.75% EAR representative* (varies with Bank of England Bank Rate) for unsecured overdrafts up to £25,000.


    Business Overdraft Pricing
    Limit Rate Fee Other Information
    £5,000 or less 9.75% per year over the Bank of England Rate £10 p/m usage fee
    • Free to set up overdraft Facility
    • Only pay if you go overdrawn
     
    £5,001 - £25,000 9.75% per year over the Bank of England Rate 1.75% Annual Fee
    • Only pay interest on funds you use
     
    £25,001 + Tailored Rates Annual Fee
    • Pricing discussed on application
     
  • Unauthorised rates and fees
  • How to apply

Unauthorised rates and fees

  • For any borrowing which is unarranged, the Unauthorised Borrowing Interest (UBI) rate is 23%.

    The first time you go overdrawn, without an agreed overdraft facility, or exceed your agreed limit with us by £50 or more, you may be charged an Unauthorised Borrowing Fee of £15. After that, the UBF is applied every time you increase your unauthorised borrowing by £50 or more from the previous day’s closing balance, unless a higher limit is agreed with us or until the account is within its existing limit or in credit.

    Where you do not have enough money available to make a payment and we do not agree to extend an unauthorised overdraft, you will not be able to make that payment. We charge a £25 fee each time we have to return a payment.

How to apply

  • Apply online

    Where eligible, you can get an immediate decision and an overdraft up to £25k opened within minutes. Simply log in to Internet Banking and select overdrafts from the left hand menu.

    Log in and apply now

    Get a quote online in minutes (Will not affect your credit rating)

    Apply by phone

    Existing customers
    0345 300 0268

    New customers
    0345 606 0286

    When you apply
    You will need to confirm:

    • The finance you wish to apply for is for business use only
    • You are over the age of 18
    • You are a sole trader, partner or director with authority to borrow on behalf of the business

    Please view our finance application checklist before you apply

  • ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.
  • All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

    You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

    Overdrafts are repayable on demand.

  • Can I borrow for my business?

    Coins

    See how likely you are to get a Business Loan or Overdraft without affecting your credit rating. View indicative interest rates and repayment details. 100% of customers who use this tool get a final offer that is the same, better or no more than 10% above their initial quote.

    Get a quote

  • Apply online

    Mouse_Negative dark blue

    Where eligible, you can get an immediate decision and an overdraft up to £25k opened within minutes.

    Log in and apply now

    Call us to talk to one of our business management team:

    Existing customers
    0345 300 0268
    New customers
    0345 606 0286

    Please view our finance application checklist before you apply.

  • Contact us

    Phone_Negative dark blue

    Existing customers
    0345 300 0268

    New customers
    0345 300 1319

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    More information

  • Loan calculator

    Calculator

    Calculate monthly repayments with our easy to use tool.

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  • Making sure you get a fair deal

    We want to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

    To find out more you can read the statement of responsibilities, which details what’s expected of us, the lender, and you, the borrower.

    Download the statement of responsibilities