Overdrafts

All Borrowing Options

Arranged overdraft

Typically used for covering short-term spending or unexpected expenses.

This is an option to consider if you’re able to quickly repay.

Benefits of an arranged overdraft

Things to consider before applying

Available to Royal Bank of Scotland current account customers, aged 18+, resident in the UK, and not declared bankrupt in the last 6 years.

An overdraft is a form of debt and is repayable on demand. You're responsible for paying it back. You only pay interest and fees if you use it. If you're unable to repay, your credit score could be impacted. Most lenders will use your credit score when deciding what to lend to you.

Always make sure you have enough money in your current account, or a suitable arranged overdraft limit in place before any payments are due to come out of your account.

Specific criteria applies to Student and Graduate overdrafts.

Representative example

We give a Representative APR so it’s easier for you to compare the costs of using an arranged overdraft with different credit products (such as a loan or credit card).

Effective Annual Rate (EAR)

39.49% (variable)

Representative Annual Purchase Rate (APR)

39.49% (variable)

Assumed credit limit

£1,200

How does our overdraft compare

A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year.

Jargon breakdown

Borrowing Table

How much will an overdraft cost?

Here’s an example of the interest if you use a Select current account’s £500 arranged overdraft with 39.49% APR.

7 days	30 days	60 days
£3.24	£13.87	£28.13

Use our handy Overdraft Cost Calculator to understand the overdraft costs of other amounts.

Minimum requirements

Must be UK resident, aged 18+, pay regularly into your Royal Bank of Scotland current account (e.g. your salary), and not been declared bankrupt in the last 6 years to apply.

Check my eligibility

Explore overdrafts