A little extra cushion for your business

Interest and fees on your Business Overdraft

Additional charges

• £25 charge for unpaid item (when you don’t have funds to cover a cheque, direct debit or standing order payment and we have to return it unpaid)
• £15 charge for paid item (when a cheque, direct debit or standing order is deducted from your account and creates an unarranged overdraft)

We review your Business Overdraft – usually annually – and may charge renewal fees.

We usually need a personal guarantee from you, and may also ask you for other forms of security. We reserve the right to withdraw an overdraft at any time. 

Your property may be repossessed if you do not keep up repayments on an overdraft that your home is securing

Eligibility

You can apply for an overdraft if you have our Business Bank Account. 

Business overdrafts can be useful for managing your short-term cash flow. You can arrange an overdraft in store with your Local Business Manager.

We’ll carry out a credit check and make a decision depending on your financial status.

Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on a loan or other debt secured on it.

See what you need to open a business account 

Interest on Business Overdrafts

Arranged overdrafts up to £25,000 have a variable interest rate of 10% EAR. This rate may be varied from time to time on giving you not less than two month’s written notice

For overdrafts over £25,000, we’ll agree either a fixed or variable margin with you that’s above the Metro Bank Base Rate. 

Interest will be calculated daily on your account and applied monthly. The amount of interest payable and when it will be charged will be shown on your monthly statement.

We usually need a personal guarantee from you, and may also ask you for other forms of security. We can withdraw an overdraft at any time. 

Your property may be repossessed if you do not keep up repayments on an overdraft that your home is securing

Eligibility

You can apply for an overdraft if you have our Commercial Current Account. 

Commercial overdrafts can be useful for managing your short-term cash flow. You can arrange an overdraft in store with your Relationship Manager. We’ll carry out a credit check and make a decision depending on your financial status.

Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on a loan or other debt secured on it.

See what you need to open a commercial account 

Interest on Commercial Overdrafts

All our interest rates for Commercial Overdrafts are tailored to suit your needs.