nationwide overdraft APR?

punamulta

I used to be on the old preferential overdraft rate, a really good deal from Natiowide,

they scrubbed that a while ago and now have quietly sneaked my ' authorised ' rate up to what they call 12.9% ear, I rang em asking for the APR and they couldn't tell me, just quoting the monthly rate and the EAR, I make the APR to be about 13.7%,

time to clear the overdraft I think.

cifpower

http://www.nationwide.co.uk/current_account/rates.htm

Overdraft interest rates (notice given) EAR Authorised overdraft rate 12.90% Unauthorised overdraft rate (applied to whole balance) 24.90%

punamulta

but is EAR the same, if I have £100 overdraft for a year I will pay more than £12.90 with compound interest won't I ?, they charge interest monthly. or does EAR take that into account the same as APR ?

Milarky

1.02% per month = 12.95% pa