What is the temporary reduced interest rate for my overdraft?
Select your account below to show a comparison between the temporary reduced interest rate we have applied to your overdraft on any borrowing above your interest free amount for 3 months and the standard contractual rate for your account.
It’s important to remember that after the 3-month period ends, we’ll start to charge interest at your contractual rate on the full overdrawn balance.
Current
| Reduced interest rate | Standard contractual rate |
|---|---|
| 19.89% | 39.49% |
Rates provided as Effective Annual Rates (EAR). EAR shows the rate of interest that you’ll pay on your overdraft over a year and is compounded – this means we charge interest each month on your balance and this will include any interest which has already been added to your account from previous months.
Ufirst Gold
| Reduced interest rate | Standard contractual rate |
|---|---|
| 19.89% | 39.49% |
Rates provided as Effective Annual Rates (EAR). EAR shows the rate of interest that you’ll pay on your overdraft over a year and is compounded – this means we charge interest each month on your balance and this will include any interest which has already been added to your account from previous months.
Ufirst Private
| Reduced interest rate | Planned interest rate |
|---|---|
| 14.89% | 19.49% |
Rates provided as Effective Annual Rates (EAR). EAR shows the rate of interest that you’ll pay on your overdraft over a year and is compounded – this means we charge interest each month on your balance and this will include any interest which has already been added to your account from previous months.
Private Current
| Reduced interest rate | Planned interest rate |
|---|---|
| 19.49% | 19.49% |
Rates provided as Effective Annual Rates (EAR). EAR shows the rate of interest that you’ll pay on your overdraft over a year and is compounded – this means we charge interest each month on your balance and this will include any interest which has already been added to your account from previous months.
Student Account
| Reduced interest rate | Planned interest rate |
|---|---|
| 0.00% | 0.00% |
Student Overdrafts will not change and will still benefit from Interest Free Buffer as well as 0% interest.
Rates provided as Effective Annual Rates (EAR). EAR shows the rate of interest that you’ll pay on your overdraft over a year and is compounded – this means we charge interest each month on your balance and this will include any interest which has already been added to your account from previous months.
Graduate Account
| Reduced interest rate | Planned interest rate |
|---|---|
| 0.00% | 39.49% |
Interest will only be charged on any borrowing above the interest free buffer in place for Graduate accounts.
Rates provided as Effective Annual Rates (EAR). EAR shows the rate of interest that you’ll pay on your overdraft over a year and is compounded – this means we charge interest each month on your balance and this will include any interest which has already been added to your account from previous months.