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Arranged overdrafts
See the estimated overdraft limit you could be eligible for
How does our overdraft compare?
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An overdraft is a way of borrowing money. If you decide to use an overdraft, you're responsible for paying it back. 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.
To apply for an overdraft:
- You must be 18+ and live in the UK.
- You must have an eligible NatWest account which you pay your salary or a regular amount into.
- You, or anyone on your account, must not have been declared bankrupt in the last 6 years.
Please note: if you apply on a joint account, we will only assess the eligibility of the person applying.
Benefits of an arranged overdraft
An arranged overdraft allows you to go overdrawn up to an agreed limit, so it could help cover an unplanned expense. Think of it as a short-term safety net for your current account.
Only pay interest if you use it
Quick access to funds
It takes about 5 minutes to apply in Online Banking or the mobile app (app eligibility applies)
Manage my existing overdraft
You can make changes to your arranged overdraft in our mobile app or via Online Banking. Here's what you need to know.
Why chance it?
Use our eligibility checker to find out whether you’re likely to be accepted before you apply. It just takes a few minutes and it won't impact your credit score.
How do overdraft costs work?
Overdraft costs OpenClose
Arranged overdraft charges
We don’t charge fees for using an arranged overdraft – we only charge interest on the amount of overdraft you use. The interest you pay depends on the type of current account you have with us.
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Returned payments
An Unpaid Transaction Fee of £1.55 is charged for a transaction that we return unpaid. A transaction (e.g. a Direct Debit) will be returned if the payment cannot be met from funds in your account or any unused arranged overdraft facility and we decide in our discretion not to make the payment.
Types of overdrafts OpenClose
What is an arranged overdraft?
An arranged overdraft is when we agree to a limit that lets you spend a bit more money than you have in your current account. This could help you manage your money if you have to cover short-term expenses such as an unexpected bill.
What is an unarranged overdraft?
An unarranged overdraft is when you spend more money than you have and you haven’t previously arranged an overdraft limit with us, or you have exceeded your existing overdraft limit.
How much does my overdraft cost in pounds and pence?
Choose your current account to view the interest costs when you use a £500 overdraft.
See how much interest you might pay
Use our overdraft cost calculator to see how much interest you’d pay based on your own circumstances and borrowing amount.
Student overdrafts
- Interest-free overdraft - get an overdraft of up to £2,000 from year one (Limited to £500 in term one year one), with an instant online decision. Students can a apply for up to £3,250 interest free from year three onwards.
- Handy text alerts to help you manage your borrowing
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Graduate overdrafts
- Graduates can apply for up to £3,250 in the first year after graduation .
Year 1 £3,250 Interest free buffer
Year 2 £2,250 interest free buffer
Year 3 £1,250 interest free buffer
- Manage your overdraft online or in the mobile app (app criteria apply)
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Check if you're eligible
Use our free eligibility checker before you apply to see if you’re likely to be accepted. It only takes a few minutes and there’s no impact on your credit score.
If you have a joint account, we recommend that you both check your eligibility, as you could each be eligible for different levels of borrowing.
If you've already checked, you're good to move on below.
Now, please take a look at this important info
Please take some time to review, print and/or save the below important documents.