Overdrafts
An overdraft facility provides extra flexibility when you need it most.
It's an ideal way to handle those short-term changes in your cashflow and avoid unnecessary charges for being over your limit.
Once you have this credit facility on your current account, you can overdraw up to an agreed limit and use your overdraft for any purpose.
Features
An overdraft is there any time you need it, to provide a convenient financial cushion:
- The amount and term are agreed with us in advance
Lending criteria terms and conditions apply. Applicants must be over the age of 18 years old.
Rates
The current variable standard overdraft interest rate (including the overdraft facility fee) is 15.9% APR, rate quoted is correct as at 25th August 2011 and is subject to change. The rate quoted is based on a representative example of €1,500 over a 12 month period. Total cost of credit is €208.85
The current variable overdraft interest rate for the Graduate Current Account is 9.7% APR, rate quoted is correct as at 24th February 2010 and is subject to change. The rate quoted is based on a representative example of €1,500 over a 12 month period. Total cost of credit is €146.05
For information on Interest Surcharges that may apply to overdrafts please refer to "Fees and Charges".
Lending criteria terms and conditions apply. Applicants must be over the age of 18 years old.
Fees & Charges
An overdraft facility fee of €25 applies on negotiation and annual renewal.
(Currently these charges do not apply to customers with the Student, Graduate or Golden Years Current Accounts ).
Overlimit item charges are payable where an account exceeds, or further exceeds the agreed overdraft permission. They are also payable where an account goes overdrawn, or further overdrawn, where no agreed permission exists. More than one charge may be applied on the same day. For further details refer to our Schedule of fees and charges for Personal Customers brochure (PDF, 142KB), also available in your local branch.
In addition, an interest surcharge of 0.6% per month (7.2% per annum), subject to a minimum charge of €2.54 per month, will apply to the amount in excess in these circumstances. Surcharge interest is payable at the same time and in the same manner as the regular interest charge, currently quarterly.
If an account does not revert to credit for at least 30 days during the 12-month period commencing on the date of sanction or any subsequent 12-month period, an interest surcharge of 0.75% per annum will be charged retrospectively on the average full overdraft balance. It will be included in the amount applied at the following quarter's interest posting
Overlimit item charges and interest surcharges are in addition to the relevant Overdraft interest rate and apply to the statement (i.e. uncleared) balance.
Lending criteria terms and conditions apply. Applicants must be over the age of 18 years old.
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Terms & Conditions
Download Terms and Conditions (PDF, 128kb)*.
*To read these files you will need the Adobe Acrobat Reader, which is available free of charge from Adobe's Website. Download PDF reader.