On 19th March 2020 the Bank of England Base Rate decreased from 0.25% to 0.10%.
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If you need to borrow a little extra money for a short while, having an arranged overdraft on your business account could work for you.
For overdraft requirements above £250,000, please refer to our Commercial Lending Products
Representative example (for borrowing up to £25,000)
Lending decisions are based on individual circumstances, so the rates we offer may vary between customers. When we advertise our products, we use representative rates to show what the majority of customers may be offered. Interest is calculated daily and will be charged on a monthly basis. Interest rates for overdrafts above £25,000 are discussed upon application.
*EAR stands for Effective Annual Rate. This is a representative interest rate showing the rate you would pay if you remained overdrawn for a year.
The representative example provided does not include any future changes to the Bank of England Base Rate.
The unarranged overdraft utilisation fee is charged when your account goes overdrawn without an arranged overdraft limit, or exceeds an arranged overdraft limit. The fee will be charged each subsequent month, if you still have an unarranged overdraft on your account.
An unarranged overdraft event fee is charged every time your unarranged overdraft position increases (except where it does so as a result of charges or interest being applied). Only one event will be charged per day and there is no limit to the number of event fees that can be charged over the charging period.
If you’re calling from the UK, calls to 0800 and 0808 numbers are free from landlines and mobiles; calls to 03 numbers cost the same as calls to numbers starting with 01 and 02; calls to 0845 and 0870 numbers cost 3p per minute, plus your phone company’s access charge; calls to 0844 and 0843 numbers cost 7p per minute, plus your phone company’s access charge. Charges for calls made outside of the UK will be determined by your local provider.
Calls may be monitored or recorded for security and training purposes.