Overdraft Service: agree a formal overdraft | HSBC UK

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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 overdraft fees will apply. Your only cost will be the interest you pay.
  • No overdraft fees if you stick to your agreed limitProvided 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.


This calculator gives you an indication of how much interest you'll pay if you use your overdraft. Additional charges may apply if we agree an informal overdraft on your account i.e. an overdraft which is above your formal limit. If you think you need to borrow above your formal overdraft limit then it will be cheaper for you to see if we can increase your formal limit. You can request an increase via online banking, by calling us on 03457 404 404 or visit us in branch and we can talk to you about ways we can help. For full details on overdraft costs, including any charges, please see our Personal Banking Terms and Conditions and Charges (PDF)

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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