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Overdraft rates and charges

Everything you need to know about the interest, fees, and charges you'll pay on the balance of your overdraft.

Overdraft rates for current accounts

Classic Account, Club Lloyds current account and Added Value Accounts

These rates apply to both Planned and Unplanned Overdrafts. These interest rates are correct from 12/05/2015 and apply to any amount beyond the interest and fee-free amount on your Planned Overdraft. Interest rates are variable.

Current account

Overdraft interest rate (per month)

Overdraft interest rate (EARCloseEquivalent Annual RateEAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.EAR)

Classic

Silver

Gold

Club Lloyds

Club Lloyds Silver

Club Lloyds Gold

1.53%

19.94%

Platinum

Club Lloyds Platinum

1.34%

17.28%

Premier

Club Lloyds Premier

1.20%

15.43%

Representative Example
If you use a Planned Overdraft limit of £1,200 on our Classic Account the overdraft interest rate we will charge on the first £25 will be 0% EARCloseEAREAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn’t take into account other fees and charges. variable and a monthly overdraft usage fee will not apply. The overdraft interest rate on the next £1,175 will be 19.94% EAR variable and a monthly overdraft usage fee of £6 will apply.

All overdrafts are subject to application and approval and are repayable in full on demand. You need to be 18 or over to apply.

Student account

These rates apply to both Planned and Unplanned Overdrafts. These interest rates are correct from 12/05/2015. Interest rates are variable.

Year of study

Planned Overdraft

Overdraft interest rate (per month)

Overdraft interest rate (EARCloseEquivalent Annual RateEAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.EAR)

Year 1 months 1-6

£0 - £500

0%

0%

Year 1 months 1- 6

£500+

0.66%

8.21%

Year 1 months 7-9

£0 - £1,000

0%

0%

Year 1 months 7-9

£1,000+

0.66%

8.21%

Year 1 months 10-12

£0 - £1,500

0%

0%

Year 1 months 10-12

£1,500+

0.66%

8.21%

Year 2

£0 - £1,500

0%

0%

Year 2

£1,500+

0.66%

8.21%

Year 3

£0 - £1,500

0%

0%

Year 3

£1,500+

0.66%

8.21%

Years 4-6

£0 - £2,000

0%

0%

Years 4-6

£2,000+

0.66%

8.21%

Graduate account

These rates apply to both Planned and Unplanned Overdrafts. These interest rates are correct as of 12/05/2015. Interest rates are variable.

Year from graduation

Planned Overdraft

Overdraft interest rate (per month)

Overdraft interest rate (EARCloseEquivalent Annual RateEAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.EAR)

Year 1

£0 - £2,000

0%

0%

Year 1

£2,000+

1.30%

16.77%

Year 2

£0 - £1,500

0%

0%

Year 2

£1,500+

1.30%

16.77%

Year 3

£0 - £1,000

0%

0%

Year 3

£1,000+

1.30%

16.77%

Overdraft fees

Monthly overdraft usage fee

We'll charge you a £6 monthly overdraft usage fee for all overdrafts, whether Planned Overdrafts or Unplanned Overdrafts. You will pay this fee if you use a Planned or Unplanned Overdraft by more than any interest-free and fee-free amount or buffer (if applicable) at any time during your monthly billing period. We will charge you a maximum of one monthly overdraft usage fee in a monthly billing period.

Daily fees for Unplanned Overdrafts

You will pay a daily fee for using an Unplanned Overdraft. each day you are in an Unplanned Overdraft. We will charge you a maximum of eight daily fees in a monthly billing period.

  • Unplanned Overdraft balance of £10 or less: no fee (buffer applies)
  • Unplanned Overdraft balance is more than £10 but less than £25: £5 fee per day 
  • Unplanned Overdraft balance is £25 or more: £10 fee per day

An overdraft continues until it is repaid. So, at the start of any monthly billing period, if you still have an overdraft from the previous monthly billing period, you will incur a further monthly overdraft usage fee and, if it is an Unplanned Overdraft, up to another eight daily fees (depending on when you pay it back).

Unplanned Overdrafts are intended for short-term, unexpected borrowing. If you know you are likely to need to borrow from us, please ask for a new or increased Planned Overdraft. You can do this by visiting us in branch, calling us on 0345 300 0000 or online if you’re registered with Internet Banking.

Returned items

Where you do not have enough available money to make a payment and we do not agree to give you or extend an Unplanned Overdraft, you will not be able to make that payment. We will write to tell you we have declined your request. We will charge you a returned item fee.

Return item fees

A returned item fee £10 for each item. We will charge you a maximum of three returned item fees a day. This fee will not be charged if the amount of the payment we decline is £10 or less.

Apply for an overdraft

Online

If you have a current account with us and are registered for Internet Banking, you can apply for a Planned Overdraft or to increase your existing overdraft online – quickly and securely.

Apply online (typically takes about 10 mins)

Over the phone

Call us on 0345 300 0000 and we’ll help you complete your overdraft application.

New customers

You can apply for an overdraft as part of the online application for all of our eligible accounts. How much we lend (if any) is subject to our assessment of your personal circumstances. Overdrafts are also repayable on demand.

Compare current accounts

 

Important legal information

Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Authorisation can be checked on the Financial Services Register at www.fca.org.uk. Lloyds Bank plc is a member of the Financial Services Compensation Scheme and the Financial Ombudsman Service. We subscribe to the Lending Code; copies of the code can be obtained from www.lendingstandardsboard.org.uk.

Lloyds Bank plc registered office:
25 Gresham Street,
London EC2V 7HN.
Registered in England and Wales No. 2065.

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