Features and benefits

  • One simple rate of interest
    Whether you have a FlexPlus, FlexDirect or FlexAccount, the interest rate is 39.9% a year compounded (variable). FlexDirect also offers 12 months interest-free from the date you open your first FlexDirect account. Conditions apply.

  • No additional overdraft fees or charges
    Just pay the interest charged for using your arranged overdraft.

  • A fixed and clear limit
    We won’t let you go over your arranged overdraft limit if we can help it.

  • Easy to manage
    We’ll send you text alerts to help you manage your arranged overdraft. You can also keep track in our Banking app and Internet Bank.

To get an arranged overdraft

You need to:

  • be 18 or over
  • be a UK resident.

We’ll also look at your circumstances before we offer you an arranged overdraft.

Arranged overdraft rates

An arranged overdraft is designed for short-term borrowing.

The representative example shows you the rate of interest we charge for arranged overdrafts. For FlexDirect, this example shows the cost once any interest-free period has ended.

FlexAccount, FlexDirect and FlexPlus Arranged Overdraft Representative Example:

39.9% APR Representative (variable). Based on an assumed arranged limit of £1,200 and an interest rate of 39.9% a year (variable).

How does our arranged overdraft compare?

A good way to compare the cost of our arranged overdraft with other overdrafts or ways of borrowing, is to look at the representative APR. The APR shows the cost of borrowing as an annual rate.

APR stands for Annual Percentage Rate. It includes all the costs of borrowing including certain account fees and promotional rates. It’s for comparing costs between different products and providers.

To find out how much an overdraft would cost for any of our current accounts, see our overdraft calculator.

How much does my arranged overdraft cost in pounds and pence?

As an example, the interest cost of borrowing £500 is:

Table showing the cost of an arranged overdraft over 7 days, 30 days and 60 days.
7 days 30 days 60 days
£3.26 £13.99 £28.37

For the 60-day example, we’ve applied the charges for the first 30 days, on day 31. This means the charge in the second month is higher. That’s because we charge interest on the interest you’ve incurred up to that point.

Have a different amount or number of days in mind? Try our overdrafts calculator.


Staying in your arranged overdraft over a long period can be an expensive way to borrow.

How much arranged overdraft could you have?

To find out exactly how much we might be able to offer you and the cost, you can use our arranged overdraft eligibility tool as part of your current account application.

We’ll need some information about you. Things like your name, address history, employment and income.

We’ll run a soft credit check to see what we can offer you. This won’t affect your credit score. If you choose to continue with your application, we’ll run a hard credit check too.

Apply for an arranged overdraft

Do you already have a Nationwide current account?


Just as with other forms of borrowing, opening an arranged overdraft will be recorded on your credit file. Increasing your arranged overdraft limit frequently can negatively affect your credit score.

How to manage your arranged overdraft

We'll send you text alerts to help you manage your arranged overdraft. You’ll get these automatically unless you’ve opted out or we don't have your correct mobile number. You can choose to stop text alerts at any time.

You can keep track of your spending and easily transfer money through our Banking app and Internet Bank.

Related links

Other ways to borrow

Arranged overdrafts are designed for short-term borrowing. But there are other ways to borrow that may be more suitable for you, depending on your needs. Learn about:

Nationwide adheres to The Standards of Lending Practice, which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk (opens in a new window).