We currently charge rates of 15%, 25% and 35% EAR (variable) for arranged overdrafts on our Personal Current Account. We consider a range of factors when we calculate what overdraft rate to offer you, including information from multiple credit reference agencies. There are no charges or fees for unarranged overdraft borrowing. You can read more about our overdraft pricing structure in our blog, here.
Interest is accrued daily, charged monthly and it’s all updated in your app.
*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.