We currently charge 15% EAR* – but we’re making some changes to our overdrafts from 1 April 2020. You can read the details of what is changing and why in our blog, here.
Interest is accrued daily, charged monthly and it’s all updated in your app.
If you dip into your overdraft just a little bit, we’ll waive any interest charges that are less than 10p at the end of any given month.
*Equivalent Annual Rate (EAR): the rate of interest you would pay over a year if you were to remain overdrawn. An EAR is a common way of showing interest rates on overdrafts which you can use to compare different banks’ interest rates. An EAR doesn’t include the fees that some banks may charge you in addition to interest. At Starling, we don’t charge any additional fees.