Overdraft Service: agree a formal overdraft | HSBC UK

 

Be prepared for life's unexpected costs

Agreeing a formal overdraft is fee free and keeping within your limit is a cost-effective way to manage your account.

Are you eligible for our Overdraft Service? Check the full details

Overdraft Service
  • Agree your overdraft limit in advanceGive yourself the flexibility to cope with unexpected expenses by requesting an adequate formal overdraft limit.
  • Overdraft chargesFor details of the charges that may be applicable, please click here to see examples.
  • Be confident – even in expensive monthsIf your request for an overdraft is approved, you'll know that when you keep within your limit all your payments will be made and no further overdraft fees will apply. Your only cost will be the interest you pay.
  • No overdraft fees if you stick to your agreed limitThere is no overdraft setup fee to agree a formal overdraft limit and provided you keep within your limit the only cost to you will be the overdraft interest you pay.

Type of account:

Please select the type of current account you hold.

Overdraft amount:

Please enter an amount from £0 to £2,000.

£


From 0 days to 31 days, whenever your account is overdrawn you should make regular payments into your account.



00.00


This calculator is intended to help you understand how much interest you will pay when you use your overdraft. For full details on overdraft costs, including any charges, see our price list .

The Overdraft Service is designed for short term finance between when you run out of funds in your current account until the next credit comes in. We expect typical overdraft usage to be for a relatively small amount for a few days. Often it may be one transaction that takes you overdrawn and the balance remains the same until a credit comes in. If you want to look at a scenario where there is further spend, you could do additional calculations and add the amounts together.

Overdraft rate

Representative example (assumed overdraft £1,200): 19.9% EAR variable

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