Are There Any Fees When I Apply For A Business Loan?
The interest rate you will pay on your Business overdraft is linked to the Bank of England Bank Rate, which may change from time to time.
Based on our assessment of your individual circumstances, we may offer you a rate of 10.31% per annum (10.06% plus the current Bank of England Bank Rate). This is correct as at 4th August 2016.
If it is not prearranged, the Unauthorised Borrowing Interest rate is 26.4%.
The unauthorised borrowing interest rate has been effective from 01/08/2005 and was last reviewed on 09/03/2009.
The Unauthorised Borrowing interest rate is not linked to the Bank of England Bank Rate and can be changed by the bank at any time. In accordance to account terms and conditions, notice will be provided for changes to the unauthorised borrowing interest rate.
You'll pay an arrangement fee of up to 1.5% on your overdraft, which is related to the amount you borrow. We'll also discuss the terms with you before any overdraft is taken out.
To cover our administration costs for smaller facilities, there will be a minimum scale charge of between £100 and £250 resulting in the overall charge being more than 1.5%.
Aug 16, 2016 |
The Computers & Internet