Your overdraft after the interest holiday

Once your arranged overdraft interest holiday ends, interest will go back to being charged at the contractual rate of 39.9% per year (variable). We'll let you know about any charges in your monthly statement. The charges will be applied to your account 28 days after the date of your statement.

To check the cost of borrowing at the usual contractual rate, use our overdraft cost calculator.

If you need more support

If you’re still experiencing financial difficulties, here are some ways we can help.

Help with managing your money

Find guidance on managing your money and ways to help you keep on top of your finances, including:

  • how to budget
  • help with essential costs
  • managing your borrowed money
  • paying essential bills and priority debts
  • contacting lenders to discuss your repayments

If you can't repay your overdraft or afford the charges

Help is available. The first step is to tell us about your financial situation (your income, outgoings and debts). Use documents like statements, bills, payslips to give us an accurate picture.

We’ll then be able  to talk you through your options. These might include:

  • gradually reducing your arranged overdraft limit, or
  • a repayment loan.

If we reduce your arranged overdraft limit, this will be by an affordable, agreed amount. You won’t pay interest on your arranged overdraft during this period, which may be for up to two years.

With a repayment loan, your overdraft balance will be restructured into a loan which you pay back in monthly instalments. Your loan could last from 2 to 7 years. When you call us, we’ll tell you the interest rate that applies, which may be up to 18.9% a year (fixed).

To get a repayment loan, you:

  • need to be overdrawn by at least £500
  • can only have a maximum of 2 Nationwide personal loans at once, including the repayment loan. If you already have 2 Nationwide personal loans, we can still talk to you about your options
  • must not have personal loans with Nationwide that total more than £25,000, including the repayment loan.

Our team will discuss your individual circumstances with you to find an option that’s affordable for you. They’ll also explain if it will impact your credit file, your ability to get credit and the total cost of your borrowing.

How to ask for help

Help us understand your situation

We have a few questions that’ll help us point you toward the right phone number or organisation.

If you’re just after some helpful information, visit our managing your money page.

Otherwise, let’s start with a few simple questions to understand your situation.