An “Arranged Overdraft” is an overdraft up to a limit that we agree, taking into account your personal circumstances. You arrange this with us in advance so as to increase the money available in your account. You may want to consider whether an overdraft is the most suitable type of borrowing for you. Cheaper forms of borrowing may be available for the longer-term. For example, you may want to consider a loan if you’d like to repay set amounts over a set period of time.
We won’t charge you for setting up an Arranged Overdraft and you’ll only pay arranged overdraft fees and interest for months you use it.
All overdrafts are subject to application and approval, even those that are available as a benefit of your current account.
If we don’t specify a period, then your Arranged Overdraft will continue indefinitely until ended by either of us. We’ll carry out a review of your Arranged Overdraft at least once every 12 months.
Overdrafts are always repayable on demand. This means we can ask you to repay all or part of your overdraft (and any interest or fees) at any time, even if we’ve agreed a period for the overdraft with you. We can also reduce your overdraft limit at any time. We will normally give 30 days’ notice before lowering your limit.
Your overdraft will be provided by Lloyds Bank plc.
Our Personal banking terms and conditions & Banking charges guide which sets out our standard charges, apply.
We ask that you make regular payments into your account while you are using your Arranged Overdraft. Please also remember that all overdrafts are repayable on demand, even where we have agreed them for a specific period.
You can find out details of our current Arranged overdraft borrowing interest rates.
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.ukVisit the FCA website. Lloyds Bank plc is a member of the Financial Services Compensation Scheme and the Financial Ombudsman Service.
Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065.