Tell us about your overdraft needs

You can use our calculator to find out how much an overdraft through your HSBC current account could cost over a period of up to 31 days.

An overdraft is a short-term credit facility for borrowing money on your current account. It can help in months where there are extra expenses and unplanned events. Overdrafts are not generally suitable for long-term borrowing. Use of an overdraft will normally result in you being charged interest or other charges.

Overdrafts are subject to status and aren't available if you're under 18 or hold an HSBC Basic Bank Account. The figures displayed are given as a guide only. They are based on assumptions rather than precise calculations.

If you have any further queries, or need help understanding your overdraft, please visit our FAQs below.

dpws-tools-overdraft-u-k-calculator

Representative example: Based on an assumed arranged overdraft of £1,200 for an HSBC Bank Account, the rate is 19.9% EAR (variable)

Calculator assumptions

  • The amount borrowed is drawn down in full at noon on the date of calculation.
  • You are overdrawn for a continuous period – you don’t dip in and out of your overdraft.
  • At the time you go into your overdraft the balance of your current account is £0.
  • No other credits and or debits will be made from the account during the borrowing period.
  • The outstanding balance will be repaid in full on the last day of the borrowing period.
  • The interest rate will remain the same during the whole borrowing period.

Glossary of terms

  • Arranged overdraft interest rate - This is the interest rate that currently applies to borrowing under an arranged overdraft. EAR stands for equivalent annual rate. It's a representative interest rate of what you would pay in interest if you're overdrawn for a year.
  • How to find your overdraft limit – If you are an existing customer you can view your overdraft limit by logging on to online banking or the mobile app or on a recent statement.

Unarranged overdrafts

You’ll have to pay a usage fee or interest if you have an unarranged overdraft. The table below shows the amount of the fee or interest that applies to each current account. It also shows the maximum amount we might charge you in a month in relation to an unarranged overdraft (this is called the Monthly Maximum Charge).

Monthly cap on unarranged overdraft charges

Each current account will set a monthly maximum charge for:

  • going overdrawn when you have not arranged an overdraft; or
  • going over/past your arranged overdraft limit (if you have one)
     

This cap covers any:

  • interest and fees for going over/past your arranged overdraft limit;
  • fees for each payment your bank allows despite lack of funds; and
  • fees for each payment your bank refuses due to lack of funds
Interest or fees payable on an overdraft by account name
Account Applicable charges
The Monthly Maximum Charge
Bank Account £5 each day £80
Advance Bank Account £5 each day
£80
Graduate Bank Account £5 each day
£80
Bank Account Pay Monthly None None
Current Account (no longer on sale) £5 each day
£80
HSBC Jade Bank Account
9.9% EAR variable each day
£2,000
HSBC Premier Bank Account
11.9%  EAR variable each day
£500
Student Bank Account None None
Interest or fees payable on an overdraft by account name
Account Bank Account
Applicable charges
£5 each day
The Monthly Maximum Charge £80
Account Advance Bank Account
Applicable charges
£5 each day
The Monthly Maximum Charge £80
Account Graduate Bank Account
Applicable charges
£5 each day
The Monthly Maximum Charge £80
Account Bank Account Pay Monthly
Applicable charges
None
The Monthly Maximum Charge None
Account Current Account (no longer on sale)
Applicable charges
£5 each day
The Monthly Maximum Charge £80
Account HSBC Jade Bank Account
Applicable charges
9.9% EAR variable each day
The Monthly Maximum Charge £2,000
Account HSBC Premier Bank Account
Applicable charges
11.9%  EAR variable each day
The Monthly Maximum Charge £500
Account Student Bank Account
Applicable charges
None
The Monthly Maximum Charge None

We won’t charge you any daily unarranged overdraft usage fees if:

  • you repay your unarranged borrowing or bring it within any applicable buffer by 11:45pm.
  • the unarranged overdraft is £10 or less.
  • your account has had an unarranged overdraft for more than 30 days in a row.
  • your account has an unarranged overdraft only because of an overdraft or interest charge.

Within a charging period, we’ll make sure we don’t charge you more unarranged usage fees than the overdraft you’ve used. The first charging period runs from the day you open your account, unless we agree another day. There’s also a monthly cap on charges

Frequently asked questions