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
- 11.02% 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 |
Rate9.75% per year over the Bank of England Rate |
Fee£10 p/m usage fee |
Other Information
|
Limit£5,001 - £25,000 |
Rate9.75% per year over the Bank of England Rate |
Fee1.75% Annual Fee (min £120) |
Other Information
|
Limit£25,001 + |
RateTailored Rates |
FeeAnnual Fee |
Other Information
|
Can I borrow for my business
See how likely you are to get a Business Loan or Overdraft. View indicative interest rates and repayment details. Try different options without affecting your credit rating.
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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.
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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.
Get a quote online in minutes (Will not affect your credit rating)
Apply by phone
Existing customers
New customers
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
Loan calculator
Calculate monthly repayments with our easy to use tool.
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.
*The representative EAR is an illustration of the rate that the majority of customers will receive. If an overdraft is described as having a particular representative EAR, then we expect to offer that rate or better to at least 51% of the applicants we accept. Other customers may get a different rate based on their individual circumstances.