Co-operative Bank Business overdraft: the real cost
One of the cheapest overdrafts on the board right now.
What 30 days overdrawn costs
| Amount overdrawn | Interest over 30 days |
|---|---|
| £10,000 | −£80.15 |
| £25,000 | −£200.37 |
| £50,000 | −£400.75 |
10.2% EAR (representative) · No arrangement fee published
How the £25,000 figure is worked out
- Amount charged interest
- £25,000
- Daily rate from 10.2% EAR
- 0.0266%
- Interest over 30 days
- −£200.37
The table ranks interest only. Co-operative Bank Business publishes no arrangement fee for this overdraft.
Cheapest on interest right now: NatWest Business and RBS Business →
Personal banking instead? Co-operative Bank’s personal overdraft →
Common questions
How much does the Co-operative Bank Business overdraft cost?
At £25,000 overdrawn for 30 days, Co-operative Bank Business charges −£200.37 in interest at its representative 10.2% EAR. At £10,000 it’s −£80.15; at £50,000, −£400.75. No arrangement fee is published.
Is the Co-operative Bank Business overdraft the cheapest?
Not at £25,000 overdrawn. The cheapest on interest right now are NatWest Business and RBS Business, jointly. Compare arrangement fees too; they sit outside the ranked figure.
Why is the rate called representative?
Business overdrafts are priced to the applicant. The representative EAR is the rate the bank expects at least 51% of accepted customers to get, and it is the figure the bank itself publishes. Your offer can differ.