Overdrafts

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Why would I get an overdraft rather than a personal loan?

Overdrafts are suitable for smaller short-term financing. Personal loans start from €300, while overdrafts are from €100.

You can set up an overdraft and then only use it when you need it - it will be there for you as a "financial cushion" when you need it most.

How can I avoid Interest Surcharges

Maintain your current account balance within your account limits and avoid unpaid charges, overlimit item charges and interest surcharges. If you don't have enough money in your account to cover outstanding cheques or upcoming standing orders or direct debits, talk to your branch in advance about arranging an overdraft, or increasing your current overdraft limit.

Also if you have an agreed overdraft, check you account regularly to ensure the balance in the account reverts to credit for at least 30 days each year from the date the overdraft is received. An easy way to do this is to check your balance on Banking 365 Phone or Online. Lending criteria and terms and conditions apply to overdraft applications (including applications for overdraft increases).