Arranged overdraft interest holiday

If you’ve been financially impacted by coronavirus and need support, an interest holiday may be right for you. This means we won’t charge interest if you use your arranged overdraft during the interest holiday. You can find out more and apply here until 31 October 2020.

If you already have an arranged overdraft interest holiday in place, we’ll be in touch before it ends.

Keep on top of overdraft charges

We’ve waived some of the interest charges through the arranged overdraft interest holiday and by temporarily reducing the arranged overdraft interest rate on FlexAccount, FlexDirect and FlexPlus from 39.9% to 18.9% per year compounded (variable). We applied the temporary rate automatically between 17 April and 31 July 2020.

From 1 August 2020, or when your interest holiday ends if you have one, you’ll be charged interest at the contractual rate of 39.9% per year (variable).

If you've been relying on your overdraft more than usual during the coronavirus outbreak, charges may be higher than you were used to before. You can use our overdraft calculator to check what charges will be at the contractual rate.

As usual, you'll be notified of any charges for using your arranged overdraft in your monthly statement. Charges are applied to your account 28 days later.

Support to help you manage your borrowing

Overdrafts are designed for short-term use and borrowing for longer periods can be expensive. If you’re able to reduce the amount you borrow on your arranged overdraft or the number of days you use it, you’ll pay less in charges.

You can find tips to help you reduce your borrowing and tools to help you stay in control of your overdraft, including our budgeting calculator and text alerts on our Managing your borrowing page.

Money worries

If you’re struggling to afford your arranged overdraft and need more support, our team can discuss your circumstances with you and offer options to help. You can find more information on our Money Worries page.

Our phone lines are very busy at the moment, so please try to find help on our website first if you can. Remember, you can apply for an arranged overdraft interest holiday online until 31 October 2020.

You can also access free independent debt advice through:


You might also find the following information useful when trying to decide on the best option for your situation: