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 We like A&L's overdraft rate

Every now and again a person needs to go overdrawn, or does so accidentally. The standard view is that this way lies stinging rates of interest. However, this doesn't have to be the case.

Take the overdraft conditions that come with Alliance and Leicester's Premier current account. For authorised overdrafts there is an introductory rate of 0% for the first 12 months on amounts up to £2,500. And the icing on the cake is that this goes up to just 6.9% EAR thereafter.

Plus, this same modest rate is charged for unauthorised overdrafts. Compare this with others in the top six on the best buy tables for unauthorised overdrafts where the lowest unauthorised rate is Cahoot's 21.9% APR and the highest is Abbey's 27%.


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