Overdraft cost calculator

See how much using an overdraft could cost you


  • 1 Your overdraft
  • 2 Your results

The maximum arranged overdraft amount that can be selected in this calculator for the

The total days exceeds the maximum allowed duration of

Are you likely to go over this amount?

The maximum unarranged overdraft amount that can be selected in this calculator for the

The total number of days you are overdrawn for arranged and unarranged borrowing cannot be greater than 31.

Your results

We've calculated the cost of your borrowing with the Choice Current Account using the information you've entered.
  • You are likely to use £500 of your arranged overdraft limit for 10 days in the month
  • You are likely to exceed your arranged overdraft limit
  • You are not likely to exceed your arranged overdraft limit

Our overdrafts are changing on 6th April 2020. See the costs below before and after they change.

Up to the 5th April 2020 you'll pay

From the 6th April 2020 you'll pay

Arranged overdraft cost

£3.63 per month

Arranged overdraft fees

EAR (variable)

Arranged overdraft rate


Unarranged overdraft cost

£0.00 per month

Unarranged overdraft fees

Unarranged overdraft rate

Fee not charged

Total overdraft cost

£0.93 per month

APR APR cost for comparison


Important information

  • An overdraft should be used for short-term borrowing or emergencies e.g. for that unexpected bill.
  • When you use your overdraft, you’re getting into debt.
  • If you need to borrow money, there might be cheaper ways to do it. It’s important to always find the cheapest way to borrow.


How much does my overdraft cost in pounds and pence?

To help you understand the cost of an overdraft in pounds and pence, the table below shows how much the cost of borrowing £500 through an arranged overdraft costs for each of our products. If you borrow more than this or for a longer period, the cost will be proportionate and may be higher.

  For 7 days For 30 days For 60 days
Cost of borrowing £500 through an overdraft £0.86 £3.71 £7.42


These illustrations assume you’re £500 into an arranged overdraft from the first day of the period of illustration, you don’t make any withdrawals or deposits, your statement period starts on the first day of the period of illustration and the period of illustration starts in a 30 day month.

Overdrafts depend on your circumstances and you must repay an overdraft when we ask in line with our General Terms and Conditions. Acceptance isn’t guaranteed. Accounts which don’t offer an overdraft aren’t included in the calculator.

Tips for using your overdraft:

  • Keep track of your spending through Online or Mobile banking
  • Don’t go over your arranged overdraft limit
  • Stay up-to-date with any changes to your current account or overdraft, including fees 
  • Remember that anything you spend from your overdraft will need to be paid back


If you’re struggling financially, visit our money worries page for information about how we, and others, may be able to help.