Business Overdraft (£3m-£25m turnover)

View our rates and charges, and find out how to apply.

Business Overdraft pricing

Please be aware that charges apply.

Limit	Rate	Term	Fee
Limit Unsecured overdrafts between £500 and £25,000	Rate 13.30% EAR representative* (varies with the Bank of England Bank Rate)	Term 1-12 months	Fee You will pay an arrangement fee of 1.5% on the amount of your overdraft, subject to a minimum of £250. Subsequent renewals will include an arrangement fee of 1%, subject to a minimum fee of £200.
Limit Unsecured overdrafts over £25,000, and all secured overdrafts	Rate Rates will be discussed on application	Term 1-12 months	Fee You will pay an arrangement fee of 1.5% on the amount of your overdraft, subject to a minimum of £250. Subsequent renewals will include an arrangement fee of 1%, subject to a minimum fee of £200.

EAR stands for equivalent annual rate. It is the rate you would pay if you go overdrawn to the full limit of your facility for the entire year. It takes into account the interest rate you are charged as a result and how often it’s charged – in this case interest is calculated daily and charged monthly. It then takes into account the effect of compounding – charging interest on interest – on your debt. Charges for unarranged overdrafts are charged separately.

EAR Representative and contextual information* expandable section

*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. Our representative EAR applies to all unsecured overdrafts with a borrowing amount of up to £25,000 for businesses with a turnover from £3 million up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.
Unauthorised rates and fees expandable section

To help businesses with the impact of inflation and rising costs of business, we are temporarily waiving unauthorised borrowing fees and returned item fees.

However, please note the below information regarding our usual approach to unauthorised rates and fees as your overdraft may revert to this approach at the end of the temporary fee waiver period.

For any borrowing which is unarranged, the Unauthorised Borrowing Interest (UBI) rate is 22.5% above the Bank of England bank rate.

For the purpose of calculating the UBI rate, if the Bank of England bank rate falls below 0%, the Bank of England bank rate will be treated as 0% until such time it exceeds 0%.

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 (UBF) 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.

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.

All lending is subject to status. Security may be required.

Overdrafts are repayable on demand.

**The minimum fee is applicable in order to cover the administration cost of arranging smaller overdrafts.