Overdrafts

When you need a financial cushion, an arranged overdraft could be an ideal way to handle those short-term changes in your cash flow.

Having an overdraft limit and staying within it will help you avoid paying unnecessary unarranged overdraft charges.

Rates

Your arranged overdraft rate is as below:

  • Clear account
    Arranged overdraft interest rate1

    (when you stay within your agreed overdraft limit)
    APR2
    29.10% 33.31%

    How much does my overdraft cost in pounds and pence?
    As an example, the interest cost of borrowing £500 is:

    7 days 30 days 60 days
    £2.79 £11.95 £24.19

    The 60 day example takes into account interest charged in the first 30 days. You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time.

    How do our overdrafts compare?
    Representative example: Based on an overdraft limit of £1,200 used in full for a three month period where the variable rate of interest is currently 29.10% per annum, the total charge for credit would be £89.42.

    This amount is for illustrative purposes only and the Annual Percentage Rate (APR) for comparison purposes is 33.31% APR (variable).

  • Graduate Account - Arranged Overdraft limit related to your years in 3rd level education
     

    Arranged overdraft interest rate1

    (when you stay within your agreed overdraft limit)
    APR2
    0% 0%
  • Graduate Account - Arranged Overdraft limit related to your income
    Arranged overdraft interest rate1

    (when you stay within your agreed overdraft limit)
    APR2
    7.10% 7.34%

    How much does my overdraft cost in pounds and pence?
    As an example, the interest cost of borrowing £500 is:

    7 days 30 days 60 days
    £0.68 £2.91 £5.84

    The 60 day example takes into account interest charged in the first 30 days. You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time.

    How do our overdrafts compare?
    Representative example: Based on an overdraft limit of £1,200 used in full for a three month period where the variable rate of interest is currently 7.10% per annum, the total charge for credit would be £21.42.

    This amount is for illustrative purposes only and the Annual Percentage Rate (APR) for comparison purposes is 7.34% APR (variable).

  • Student Account
     

    Arranged overdraft interest rate1

    (when you stay within your agreed overdraft limit)
    APR2
    0% 0%
 
Please click here for all Current Account rates.

You can use our overdraft cost calculator to work out how much overdraft interest you will pay.

¹ Debit Interest varies with Base Rate. On 5 October 2020 Bank of Ireland UK Base Rate was 0.10%.
² APR stands for Annual Percentage Rate (variable) – an annual percentage expressing the total charge for credit. It includes interest and any additional fees (we don’t charge additional fees). The APR allows you to compare the cost of the overdraft with other providers or other types of borrowing.