Understanding interest and charges
Daily arranged overdraft interest rate
Our daily arranged overdraft interest will depend on the amount of your arranged overdraft balance at the end of each day including bank holidays and weekends. We will take the amount of the daily arranged overdraft interest from your account overnight.
If you go over your limit
If a payment takes you over your limit or we refuse it, you won’t be charged by us but you might not be able to make your payment.
This could mean your mortgage or rent as well as other commitments may not be paid and some suppliers may charge you fees for missing those payments.
Overdraft interest
Our daily arranged overdraft interest will depend on the amount of your arranged overdraft balance at the end of each day including bank holidays and weekends. We will take the amount of the daily arranged overdraft interest from your account overnight.
The daily arranged overdraft interest rate for using your arranged overdraft, over your interest-free amount (if your account has one) is based on how you manage any accounts you have with us and on the credit information we hold about you. We will let you know your rate in the pre contract credit information we give you if you apply for an arranged overdraft.
If you are upgrading and don’t already have an arranged overdraft you can apply for one once you complete this application.
Overdraft interest rates for previous bank accounts
For arranged overdraft interest rates relating to bank accounts we no longer offer, please see Previous Bank of Scotland Bank Accounts.