Business Overdraft

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

Key Features & Benefits

Free to set up an overdraft with a limit of £5,000 or less.
Simple Pricing
Only pay interest on funds you use
Apply for a limit that suits your business needs.
Once approved, provides immediate access to funds.
Helps you manage your cash flow and working capital.
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

11.52% EAR representative* (varies with Bank of England Bank Rate) for unsecured overdrafts up to £25,000.

Limit	Rate	Fee	Other Information
Limit £5,000 or less	Rate 10.85% per year above the Bank of England Rate	Fee Up until 9 January 2021: £10 p/m usage fee From 10 January 2021: £12 p/m usage fee	Other Information Free to set up overdraft Facility Only pay if you go overdrawn
Limit £5,001 - £25,000	Rate 9.75% per year over the Bank of England Rate	Fee Up until 9 January 2021: 1.75% Annual Fee (min £120) From 10 January 2021: 1.99% Annual Fee (min £120)	Other Information Only pay interest on funds you use
Limit £25,001 +	Rate Tailored Rates	Fee Annual Fee	Other Information Pricing discussed on application

Unauthorised rates and fees expandable section

If you overdraw your account, or exceed an overdraft limit without prior agreement, you’ll be charged the unauthorised Borrowing Interest Rate of 10.85% above the Banking of England Bank rate on this unauthorised borrowing.

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 £7 fee each time we have to return a payment.
How to apply expandable section
Apply online

Enter your login details, which will take you to the Business Internet Banking Homepage

Select ‘Overdraft’ in the left hand ‘Our Products and Services’ menu

Select ‘Apply for an Overdraft’

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

Appeals for borrowing

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.}

* 'Representative' means the rate at or below which the Provider reasonably expects, at the date on which the publication, display or communication is made, that credit would be provided under for at least 51% of the credit agreements which will be entered into as a result of the publication, display or communication.

We adhere to The Standards of Lending Practice which are monitored and enforced by the Lending Standards Board (LSB)