You can see your interest rate in the app. If you have an overdraft already, just tap on your agreed overdraft amount on the main homepage screen. If you don’t have an overdraft yet, you can see what rate you would be offered by selecting the ‘overdraft’ option on the main menu.
We wrote to customers with an existing overdraft back in January, letting them know that they would be moving to risk based pricing on 1st April. To help customers struggling with the impact of coronavirus, we’ll be delaying our move to risk based pricing by 90 days. That means you’ll stay on your original interest rate until 1st July 2020. This will be effective from 1st April.
If you accepted your overdraft with us after 1st April 2020, you will be on our risk based pricing schemes. This means your interest rate will be 15%, 25% or 35% (variable). Your interest rate will be assigned based on a range of factors, including your credit score.