The cost of an agreed overdraft varies greatly between the main banks and building societies and because of the different types of charging tariff they use it’s a tricky job to make a comparison.
To give you more of an idea of which provider is best depending on the amount you borrow and how often you tend to be in the red, I’ve crunched the numbers to show how much each bank charges per year in a number of different scenarios. (see link below).
Hopefully this will help you work out if you are getting a decent deal from your current provider or whether it may make financial sense to move your bank account to a cheaper alternative.
- Barclays waives overdraft interest – how much will it save you? - March 26, 2020
- New Best Buy Fixed Rate Savings Bonds - March 24, 2020
- Cash ISA Best Buys – Updated 12th March – top rates disappearing fast - March 12, 2020