Arranged overdraft limits and interest rates vary based on your individual circumstances. How much does my overdraft cost in pounds and pence?Īs an example, the interest cost of borrowing £500 is: £2.04 for 7 days, £8.94 for 30 days and £17.98 for 60 days.Īrranged overdrafts are subject to application and approval and repayable on demand. You can use the representative APR to compare with other products or credit providers, this can help you make sure that you choose the right type of borrowing for you. *The £3 fee is waived for each month you pay in at least £1,500 into your account
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The APR includes monthly maintaining the account fees of £3* and an interest free amount of £50. Representative example (based on using a Club Lloyds Account)Īn arranged overdraft on a Club Lloyds account has a variable interest rate of 27.5% EAR, and a variable representative rate of 29.9% APR, based on borrowing £1,200.
We will let you know this rate in the pre contract credit information we give you if you apply for an arranged overdraft. The daily arranged overdraft interest rate will be based on how you manage any accounts with us and on the credit information we hold about you.
Once your three month interest-free period ends we will charge interest daily. What happens after the 0% interest free period ends? You can use it to borrow money up to an agreed limit through your bank account. An arranged overdraft can act as a useful safety net. To help you during your switch, we may be able to arrange an interest-free arranged overdraft for 3 months, subject to application and approval.
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Please see the Bank accounts and switching to us leaflet for full details on arranged overdraft interest. After 3 months, or if you change your account, you will be charged daily arranged overdraft interest applicable to the account you hold if you use your arranged overdraft.If your Qualifying Account has an arranged overdraft, you will not pay any daily arranged overdraft interest for 3 months provided you stay within your arranged overdraft limit and do not increase or otherwise alter the arranged overdraft limit agreed. The offer does not automatically guarantee an arranged overdraft and any application for an arranged overdraft facility will be subject to status.The offer is subject to change and can be withdrawn without notice at any time. The offer applies to applications received in branch, online or by phone from the and the 27/06/22.You are an employee of Lloyds Banking Group, or if an employee is named on any bank account held in joint names.The bank you are switching from does not participate in the ‘Current Account Switch Service’.You are switching to a joint account and one of the parties to the joint account has already received a switching offer since April 2020.You’ve received a switching offer since April 2020 for switching to a Club Lloyds Account or Club Lloyds Platinum Account.You change your existing account to a Club Lloyds Account or Club Lloyds Platinum Account, but you do not move your account from another bank using the ‘Current Account Switch Service’ before the switching deadline.You switch to any account other than Club Lloyds Account or Club Lloyds Platinum Account.start your switch from your old bank account using the ‘Current Account Switch Service’ to a Club Lloyds Account or Club Lloyds Platinum Account between the and the 27/06/22.
The ‘Current Account Switch Service’ will close your old account with the other bank and Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank to a Club Lloyds Account (£3 monthly maintaining the account fees apply) or Club Lloyds Platinum Account (£21 and £3 monthly maintaining the account fees apply) ( (‘Qualifying Account’).To qualify for the £125 switching offer (“the offer”) you must switch to a Club Lloyds Account or Club Lloyds Platinum Account using the ‘Current Account Switch Service’ to switch from a bank account held with another bank.
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