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Coronavirus and your overdraft

From 9th April until 8th July, the first £500 of your arranged overdraft will be interest free. If your arranged overdraft is lower than this, all of it will be interest free.

We’ll also temporarily charge 19.9% EAR (variable) for any overdraft over the £500; usually 39.9% EAR (variable).

An arranged overdraft is how much we have agreed, in writing, we can lend you – this amount can be found on your statement or on the app. We won’t automatically increase your existing overdraft limit, or add a new limit to your account if you haven’t got an arranged overdraft on your account.

An overdraft should be for short-term borrowing needs or a safety net for emergencies. Going over your limit for 30 days or more, could have a negative impact on your credit file. If you would like to change your arranged overdraft limit you will need to call us on 03 456 100 100. You can contact us between Mon and Sun 8am – 10pm.

If you do not want to change your overdraft limit, you don’t need to do anything, these temporary measures have automatically been activated. 

What this means for you:

My situation Interest rate What do I need to do?
My situation1. I have an arranged overdraft up to £500. Interest rateInterest free up to your arranged limit. What do I need to do?You don’t need to do anything.
My situation2. I have an arranged overdraft of £501 or more. Interest rateFirst £500 interest free. 19.9 EAR% (variable) for borrowing above £500. What do I need to do?You don’t need to do anything.
My situation3. I want to increase my existing overdraft limit to £500 or less. Interest rateInterest free up to your arranged limit. What do I need to do?You can now apply for this. Applying for an overdraft will require a credit search and an assessment of your financial circumstances.
My situation4. I want to increase my existing overdraft limit to £501 or more. Interest rateFirst £500 interest free. 19.9 EAR (Variable) for borrowing above £500. What do I need to do?You can now apply for this. Applying for an overdraft will require a credit search and an assessment of your financial circumstances.
My situation5. I don't have an arranged overdraft but would like one. Interest rateFirst £500 interest free. 19.9% EAR (Variable) for borrowing above £500. What do I need to do?You can now apply for this. Applying for an overdraft will require a credit search and an assessment of your financial circumstances.

The terms and conditions on your 1st Account are not changing because of these temporary measures.

We’re keeping this under review so don’t worry, we’ll update customers before we make any changes to the temporary measures.

If you have an offset mortgage, the temporary measures do not apply to you.

Here are some of the most frequently asked questions to help you understand what this means for you.

Overdraft support FAQs