Graduate Overdraft
If you have graduated from full time third level education in the last three years, you can apply for a Graduate Current Account and avail of a discounted Graduate Overdraft. Terms and conditions apply to this account
Some Guidance on our Credit Facilities
If you apply for a loan, card or overdraft, we will assess your application using our credit assessment standards. This means, for example, that we will only give you a credit facility where you meet our credit requirements. Before you are bound by any credit agreement, we will make sure you have the terms and conditions that apply.
To apply for credit you must be aged 18 or over.
Features
Need some time to decide which path you are going to follow, don’t worry, an overdraft facility can help you manage short term unexpected costs, particularly during the first few months after graduation. An overdraft is there any time you need it, to provide a convenient financial cushion
Fees and Charges
Overlimit item charges apply where an account exceeds the agreed overdraft permission or is overdrawn without permission. The charges apply for each withdrawal from an account while it remains in an unauthorised overdraft position. In addition, an interest surcharge or 0.6% per month (7.2% per annum) will apply. Where accounts do not revert to credit for 30 days during a 12 month period, an interest surcharge of 0.75% per annum will be charged.
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), 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.
Rates
The current graduate overdraft is available at a discounted rate of 9.7% APR (Annual Percentage Rate) variable. In addition, you will not be charged the annual facility fee of €25.
Rate quoted is correct as at 20 December 2011 and is subject to change.
Representative Example:
| Advance Amount | €1,500 |
| Term | 12 months |
| APR | 9.7% APR variable |
| Total cost of credit | €146.05 |