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Coronavirus Overdraft Calculator

Find out how much a personal overdraft could cost you between 9 April and 9 July 2020

New overdraft guidance: There’s new industry guidance about further temporary help with overdrafts during the coronavirus pandemic. We’re working through this at the moment. If you have an overdraft with us, we’ll be in touch with you to outline the next steps. We’ll also update our overdraft support page.

From 9 April 2020, for 3 months, we’re supporting customers with an overdraft with some temporary measures:

  • we temporarily won’t charge interest on the first £500 of arranged overdraft borrowing. This applies to overdraft borrowing for customers with these HSBC accounts: Bank Account; Bank Account Pay Monthly; Current Account; and Advance Bank Account
  • we’ll temporarily charge less interest above buffer amounts

These are temporary measures and not a change to contractual terms, which remain the same. We’ll keep them under review and we’ll update customers before we make any changes to the interest waiver.

This calculator will help you work out how much you could be charged during this time. 

To find out more, see our coronavirus overdraft frequently asked questions


Representative Example: Based on an assumed arranged overdraft of £1,200 for an HSBC Bank Account, the rate is 0% EAR (variable) on the first £25, 39.9% EAR (variable) on anything after that, giving a representative rate of 38.9% APR (variable)

This representative example isn't reflective of the temporary overdraft measures put in place from 9 April to support our customers.

Calculator assumptions

  • the amount borrowed is drawn down in full at noon on the date of calculation
  • you are overdrawn for a continuous period – you don’t dip in and out of your overdraft
  • at the time you go into your overdraft the balance of your current account is £0
  • no other credits and or debits will be made from the account during the borrowing period
  • the outstanding balance will be repaid in full on the last day of the borrowing period
  • the interest rate will remain the same during the whole borrowing period

Glossary of terms

  • overdraft interest rate - This is the interest rate that currently applies to borrowing under an overdraft. EAR stands for equivalent annual rate. It takes account of the interest rate and how often interest is charged, and does not include any other fees or charges
  • how to find your overdraft limit – If you are an existing customer you can view your overdraft limit by logging on to online banking or the mobile app or on a recent statement

Unarranged Overdrafts

You’ll have to pay interest if you have an unarranged overdraft, which is when your account goes overdrawn and you don’t have an arranged overdraft, or you go over your arranged overdraft limit. The maximum monthly charge in interest for going into an unarranged overdraft will be £20 per month. Temporarily, from 9 April 2020 for 3 months the maximum monthly charge in interest for unarranged overdrafts will be £0 per month.

Monthly cap on overdraft interest

Each current account will set a monthly maximum charge for:

  • going overdrawn when you have not arranged an overdraft; or
  • going over/past your arranged overdraft limit (if you have one)

This cap covers any:

  • interest for going over/past your arranged overdraft limit;
  • fees for each payment your bank allows despite lack of funds; and
  • fees for each payment your bank refuses due to lack of funds

Check if you're eligible

Find out if you're likely to get an arranged overdraft, without affecting your credit score.

Using this tool won't affect your current arranged overdraft if you already have one with us.

It’s easy to get in touch online. Talk to us directly through our chat channels.