Need help managing your short-term cash flow? If you’re a Business Current Account customer and you need an extra cushion for your company, you can apply in store for a flexible arranged overdraft and we'll talk you through your options.
A fixed rate of 10% EAR for overdrafts of less than £25,000. Plus an arrangement fee of 1.75% of the limit or £50, whichever is greater.
Want something to help ease your cash flow? You can get a helping hand from your overdraft.
There are no hidden fees to worry about. And you’ll know about our arrangement fees upfront.
We’re up front with our customers about everything. We’ve created this handy summary of our Business Overdraft key features so you can see the important information from the get-go.
|Minimum balance||Fixed overdraft rate||Arrangement fee|
|None||10% EAR||1.75% or £50, whichever is greater|
You can apply for a Business Overdraft if you have a Metro Bank 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.
Arranged overdrafts up to £25,000 have a fixed interest rate of 10% EAR.
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’ll charge you interest on your Business Overdraft:
|Agreed overdraft||10% EAR fixed|
|Unarranged overdraft||25% EAR typical variable|
We’ll charge you these arrangement fees:
|Arranged overdraft up to £25,000||1.75% or £50 (whichever is greater)|
|Arranged overdraft over £25,000||1.25% of its limit|
We’ll charge you these fees for unpaid and paid items:
We review your Business Overdraft – usually annually – and may charge renewal fees.
We usually need a personal guarantee from you, and when we request it, 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 a business overdraft that your home is securing
Download our PDF to read when you like – it contains all the ins and outs of our Business Bank Account and overdrafts.
Pop in store and talk to your Local Business Manager. Business overdrafts over £25,000 have an arrangement fee of 1.25% of their limit.
Yes. If your business overdraft is more than £25,000 we’ll agree a fixed margin over the Metro Bank Base Rate with you.
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