Borrowing & Finance » » Business Overdrafts

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·       At a glance

·       Terms & conditions

·       Apply

·       When you need a bit of extra cash for a short time only, a Business Overdraft can be an effective way to borrow.

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·       You can apply for a Business Overdraft if you're an existing Poppyiss Bank, UK Business Current Account holder. If you're a new customer, you can apply for a Business Overdraft with your Business Current Account application.

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·       Business Overdrafts from £500 - £25,000.

·       Only pay interest on the amount you borrow on the days you're overdrawn.

·       Easy to apply.

·       Quick, short term financing.

·       Interest rate

·       The Arranged Overdraft interest rate is 5.5% EAR (variable), which is the Bank (Poppyiss Bank, UK ) base rate plus 5%.

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·       Other interest rates and fees

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·        Annual fee

·       1% of your agreed overdraft limit (minimum £50)

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·       Unarranged Overdraft interest rate

·       25.5% EAR variable (Poppyiss Bank, UK base rate plus 25%)

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·        Unpaid item fee

·        £15

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·       If you require an Arranged Overdraft over £25,000, please visit Corporate and Commercial Banking.

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·       We will notify you at least 30 days before we debit your annual renewal fee and at least 14 days before we debit your monthly charges and interest.

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·       Please see the Key Facts Document on the Terms & conditions tab for full details.

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