A&L overdraft question

medic1978

Hi
I recently opened the A&L Premier account and have an interest free overdraft. If I use the overdraft in full, do I have to put the account into credit each month?
Or can i just deposit £500 per month and then withdraw as necessary?

e.g overdraft £1500, balance -1500

do i need to deposit £1500 each month to keep the interest free overdraft

or is a £500 deposit per month ok?

thanks

YorkshireBoy

medic1978 wrote: »

...do I have to put the account into credit each month?

No.

I'm currently stoozing a £10K A&L overdraft at 6.30% fixed, and only reducing it by £5 per month (have to show willing! ).

secondtoughest

I've got the 0% overdraft with A&L which expires in April.

Do you think they'd let me extend the interest free period? If not I'll just pay it back but I just wondered how flexible they were.

YorkshireBoy

secondtoughest wrote: »

Do you think they'd let me extend the interest free period?

Doubtful, but it's only 50p/day (max £5/month) from year 2 onwards isn't it?

secondtoughest

Good point!