The challenging times we’re all experiencing means we’re getting a lot more calls than usual and our call times are longer. So we can support people in the most vulnerable situations, we ask that you only call us if your enquiry is urgent. You can still use our online and mobile banking services and our automated service.

 

Personal Overdrafts

Important Information

An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.

Calculating costs from 9th April 2020 until 9th July 2020  
Calculating costs after 9th July 2020

To support our customers through the impacts of the Coronavirus we are making the following changes from the 9th April 2020:

  • The first £500 of your arranged overdraft will be interest free
  • If your arranged overdraft is lower than these amounts all of it will be interest free
  • This automatic buffer will end on 9th July 2020 for all customers
  • If you already have an arranged overdraft, you do not need to take further action
  • You can apply for or increase an arranged overdraft using the mobile app, online banking or by calling us. You can also check your eligibility using our eligibility checker
  • Further information on all the available support for Coronavirus can be accessed through our dedicated help and support page
  • After 9th July 2020 the interest free amounts on our accounts are set out below
  • There are no changes to Student or Graduate account overdrafts

Lloyds Accounts

Interest free amount after 9th July 2020

Lloyds Accounts

Club Lloyds

Interest free amount after 9th July 2020

£50

Lloyds Accounts

Club Lloyds Platinum / Platinum

Interest free amount after 9th July 2020

£50

Lloyds Accounts

Club Lloyds Premier / Premier

Interest free amount after 9th July 2020

£250

Lloyds Accounts

Club Lloyds  Gold / Gold

Interest free amount after 9th July 2020

£50

Lloyds Accounts

Club Lloyds Silver /  Silver

Interest free amount after 9th July 2020

£50

Lloyds Accounts

Select

Interest free amount after 9th July 2020

£50

Lloyds Accounts

All other accounts

Interest free amount after 9th July 2020

£0

Features and benefits

  • Only pay when you use it - Setting up an arranged overdraft is free and you’ll only pay daily arranged overdraft interest if you use it.
  • Managing your arranged overdraft - You can reduce or remove your arranged overdraft at any time through Mobile Banking, Internet Banking or Telephone Banking or by visiting your branch. But you must repay anything you owe if you want to remove an overdraft or anything over the new reduced limit you want. You can also apply to increase it. This application won't affect your credit score.
  • Tools to help you decide - You can also check your eligibility and calculate the cost of any arranged overdraft at any time using the tools.
  • Receive text message alerts – If we have a mobile number for you, we’ll help you keep an eye on your balance. Find out more here.
  • Grace period - You have until the end of the day to bring your account back in to credit to avoid daily arranged overdraft interest for that day. You can do this by transferring money from another personal account you have with us via Mobile Banking, Internet Banking, Telephone Banking or pay in cash over the counter in a branch.

Apply for an arranged overdraft

  • Click the ‘Apply now’ button to log onto Internet Banking, then select ‘Overdrafts’ from the left hand ‘Our products and services’ panel, or alternatively from your bank account, select ‘More actions’ and then ‘Overdraft’.
  • From mobile, select ‘Overdrafts’ from your bank account menu, or click the ‘Your Overdraft options’ link.
  • If you already have an arranged overdraft you can apply to increase, decrease or remove your arranged overdraft using Internet Banking.

 

Apply now

  • Please be aware that if you calculate a cost for a period that would take you past 6th July 2020 the calculation will be inaccurate. As it will not include interest charged after this date.
  • If you wish to calculate a cost for a period after 6th July 2020 please use the link at the top of the page.

Eligibility Tool

Cost Calculator

 

Unarranged overdrafts

If you don't have enough money in your account to make a payment, we may either let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, please get in touch with us as we may be able to help you.

All overdrafts are subject to our assessment of your circumstances and are repayable in full on demand. You must be aged 18 or over to apply.

If you’re looking to borrow money, it is important you compare and choose the right options for you based on your circumstances. Your borrowing options.

  • An arranged overdraft is a limit based on your personal circumstances and agreed with us in advance. You can apply for an arranged overdraft if you have a Classic, Club Lloyds, Silver / Club Lloyds Silver, Gold / Club Lloyds Gold, Platinum / Club Lloyds Platinum, Premier / Club Lloyds Premier, Student, Graduate or Select account.
     

    Duration of arranged overdraft

    Your arranged overdraft will continue indefinitely unless we specify an end date or you ask to end it. We will carry out a review of your arranged overdraft at least once every 12 months.

    You need to be 18 or over to apply. How much we lend depends on our assessment of your personal circumstances. All overdrafts are always repayable on demand. We can also reduce your arranged overdraft limit at any time. We will normally give 30 days’ notice before making any changes.

  • If you do need to use your arranged overdraft, you’ll pay daily arranged overdraft interest at the end of each day making it easier to keep track of what’s going out.

    If you use your arranged overdraft but pay it back before the end of the day, then you won’t pay any arranged overdraft interest for that day.

    You can keep track of your balance through internet or Mobile Banking, in branch or through PhoneBank.

    If you have an interest-free amount with your arranged overdraft you’ll only pay daily interest if you borrow more than the interest-free amount.

     

    If you go over your limit

    If a payment takes you over your limit or we stop it, you won’t be charged by us for this 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.

    Read our Personal Banking Terms and Conditions & Banking Charges guide (PDF)

  • Daily arranged overdraft interest is paid at the end of each day that you use your arranged overdraft, making it easier to keep track of what’s going out of your account.

    If you use your arranged overdraft but pay it back before the end of the the day, then you won’t pay any arranged overdraft interest for that day.

    You can keep track of your balance with mobile alerts, through Internet or Mobile Banking, in branch or through PhoneBank.

  • Increasing or reducing your arranged overdraft limit

    You can either reduce or apply to increase your arranged overdraft limit at any time via your internet banking or mobile banking app in just a few simple steps.

    To do this, just sign in to your Internet Banking or Mobile Banking app and select ‘More actions’ on the bank account that you have the arranged overdraft set up on. Then select ‘Overdrafts’ and follow the on-screen instructions to select the new arranged overdraft limit you would like.

    From mobile, select ‘Overdrafts’ from your bank account menu, or click the ‘Your Overdraft options’ link.

    If you are applying to increase your arranged overdraft limit you can benefit from an instant online decision and if approved your new limit will be ready to use immediately.

    If you would like to talk to someone about amending your arranged overdraft you can do this in branch or over the phone.

    Cancelling your arranged overdraft

    There’s no need to reduce or cancel your overdraft if you aren’t actively using it, it’s there as a safety net if you do need it and you only ever pay for the amount of the overdraft that you use.

    If you do need to cancel your arranged overdraft, you can do this straightaway if your account is in credit. If you cancel your overdraft, we might not be able to offer you the same arranged overdraft limit again in the future.

    To cancel, your account needs to be in credit. Log in to Internet Banking, select the ‘More actions’ button on your current account, then choose the ‘Manage overdraft’ button (found in the ‘Overdraft’ dropdown menu). Set your arranged overdraft limit to zero and select the ‘Cancel overdraft’ button. You can also do this through Mobile Banking.

    How to avoid arranged overdraft interest

    There are many ways to manage your money more easily and avoid unnecessary arranged overdraft interest.

    Using any of our banking services, like PhoneBank, Internet Banking and Mobile Banking, can help you keep a closer eye on your bank balance.

    Our mobile alerts service offers a simple way to stay on top of your finances without even having to think about it.

    Managing your money

    Mobile Banking can help you manage your money on the go. It’s free for all our current account customers. We don't charge you for Mobile Banking but your mobile phone operator may charge for some services.

    As part of our mobile alerts service, if we have a mobile number for you we’ll let you know when:

    • You’ve started using your arranged overdraft and are being charged.
    • You’re nearing your arranged limit.
    • You don’t have enough to pay a standing order.
    • You’ve reached your limit.
  • Grace period

    We make payments from your account shortly after midnight at the start of the due date. If your payment date falls on a non-working day, then we will try and collect your payment the next working day.

    If you don’t have enough funds in your account at this point to make a payment, we will try the make the payment again after 2.30pm the same day. This gives you the chance to put extra funds into your account so that we can make the payment. The funds need to be available to use straight away, so you could transfer money from another personal account you have with us via Internet Mobile or Telephone Banking or pay in cash over the counter in branch.

    For Cheque and Direct Debit payments, if there are not enough funds in your account at 2.30pm the payment will be returned and you may need to make alternative arrangements to make the payment.

    For Standing Order and Future Dated Payments we will try to make the payment on the next working day the payment was originally due. if there are not enough funds in your account at this point, the payment will be returned and you may need to make alternative arrangements to make the payment.

    If a payment takes you into any arranged overdraft, you have until the end of the day to pay money into your account to avoid daily arranged overdraft interest for that day.

Useful phone numbers

Lost or stolen cards

0800 096 9779

(+44 1702 278 270 from outside the UK)

Contact us

0345 300 0000

(+44 1733 347 007 from outside the UK)

These lines are available 24/7.

Not all Telephone Banking services are available 24 hours a day, seven days a week. Please speak to an adviser for more information.

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Important legal information

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

We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.