Overdraft Cost Calculator

This calculator is designed to help you understand how much an overdraft could cost, based on the amount you borrow and the length of time you use it for. The figures shown are illustrative only and do not indicate whether an overdraft application will be approved.

Representative example

Based on an assumed arranged overdraft of £1,200 for an Investec Voyage Account, the rate is 0% EAR (variable) on the first £1,000, 9.11% EAR (variable) on anything above that, giving a representative rate of 776.40% APR (variable) including an annual fee of £500.
 

Calculator assumptions

• the amount overdrawn is used in full for the whole period you select.
• you remain continuously overdrawn for that period.
• no repayments, deposits, or other transactions are made during the borrowing period.
• the overdrawn balance is repaid in full at the end of the period selected.
• the applicable interest rate does not change during that period.
   

Arranged overdraft

An arranged overdraft is a pre-agreed limit that allows you to borrow up to a specific amount on your current account. Interest is charged on the amount you use above any interest-free portion that applies to your account.
 

Unarranged overdraft

An unarranged overdraft arises if a payment leaves your account when you do not have sufficient funds in your account and you have reached (or do not have) an arranged overdraft limit. If you try to make a payment that would take you into unarranged overdraft, we may allow or refuse that payment.
 

Effective Annual Rate (EAR)

The Effective Annual Rate shows the interest rate you would pay if you remained overdrawn for a full year. It helps you compare overdraft borrowing costs across different products and providers.