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

7.66% 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.

  • 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 (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.

Get a quote up to £25,000

See how likely you are to get a Business Overdraft without affecting your credit rating. View indicative interest rates and repayment details. 99% of customers who used this tool and opened the same product received an offer rate that was the same, better or no more than 10% above their indicative quote.

Get a quote

Apply by phone

You can apply for a Business Overdraft by phone.

Existing customers call 0345 300 0268

New customers call 0345 300 1319

We’re available from 9am to 5pm, Monday to Friday, except public holidays. 

Lending appeals

The right type of funding can play a vital role in helping your business reach its potential. If your lending application is declined, we will work with the British Bankers’ Association to pursue any raised appeals. 

Making sure you get a fair deal

We want you 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.

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 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.

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