Take control with greater flexibility for your business.

Every business needs access to cash over and above its natural cashflow from time to time. A Business Overdraft allows you to go into an overdrawn position up to a pre-agreed limit. So you have peace of mind that extra funds are available outside your normal cash flow, should you need them. 

 

All businesses with a current account are eligible to apply for a business overdraft. All applications will be assessed on their own merits. 

 

9.11% EAR* (variable) representative on Standard Tariff Unsecured Business Overdrafts up to £25,000.

(other overdraft amounts available at alternative rates)

 

 

 

 

Representative example

 

Standard Tariff Unsecured Business Overdrafts of £5,000 will be charged at 9.11% EAR (variable). Charges may apply.  An arrangement fee will be charged of normally 1% of agreed facility (minimum £50).

 

 

*Effective Annual Rate of Interest (EAR): This is the illustrative annual cost of an overdraft, stated as an annual rate, which takes into account how often arranged overdraft interest is charged to the account and does not include any other fees or charges.

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Business Overdraft features and benefits

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    Low cost finance

    • This type of lending is cost effective as you only pay interest on the money you actually borrow as interest is calculated on your daily, overdrawn balance.
    • Interest on a business overdraft is variable and charged quarterly to your business current account.
    • Overdrafts are subject to eligibility criteria and may be subject to an arrangement fee. 
    • To avoid additional charges you must arrange your business overdraft prior to being in an overdrawn position.
    • Further information on interestfees and charges is available from your branch.

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    Tailor-made terms

    • Your First Trust Bank Relationship Manager will look at your application on an individual basis. The amount of your limit and rate of interest you pay is agreed prior to you using the facility. 
    • A business overdraft has no fixed repayment schedule and is generally reviewed on an annual basis.

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    Flexible finance

    • A business overdraft gives you the flexibility and peace of mind of having extra cash available outside your company's normal cashflow. 
    • It is versatile and easy to use, allowing you to better manage your working capital and prepare for one-off or unexpected spending without having to look for a new credit facility every time.

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Important information

Business overdraft terms and conditions are available on request. Applicants must be 18 years or over. As a responsible lender First Trust Bank will only lend money based on our assessment of your ability to repay. Written quotations available on request.

Talk to us

Simply call 0345 6005 925 or drop into any First Trust Bank branch. We’ll be happy to answer any questions you may have about applying for a business overdraft.

 

 Lines open: 9am to 5pm Monday - Friday (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider. 

Help and guidance

 

Standards of Lending Practice for Business Customers

We adhere to the Standards of Lending Practice for Business Customers which sets standards for banks when dealing with lending and overdrafts for business customers. You can get more information on the Standards from any branch or at www.lendingstandardsboard.org.uk. Under the Standards we have also developed a Statement of Lender and Borrower Responsibilities to ensure that the relationship works well for both of us.

 

Cashflow planner tool

A financial and budgetary tool to help manage your business cashflow.

 

 

Downloads

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