RBS Graduate Interest-Free Overdraft

savetospend

Hi, does anyone know what the interest-free overdraft limit is for Year 3 of RBS graduate royalties account?

My first year was £2000, yr 2 was £1850, and for the past two months I have been charged interest so it has obviously decreased again (which they didn't inform me of - although no doubt it was in the original t&cs that they could do this) and has taken me into unarranged overdraft (due to the interest charge) so I will be charged for this too.

My own fault I know but as I said does anyone know what the interest-free limit is for Yr 3.

Thanks in advance

chambta

Not sure where the £1850 come from but it (the interest free level) should decrease by £500 per year from a year after graduation.

Within two years of graduation you are eligible to apply for an interest free loan to repay whatever you owe on overdraft though.

savetospend

Yeh, I noticed that on the website

With effect from 5th July 2005, Graduate customers are offered interest-free overdrafts , by prior arrangement, of:

• up to £2,000 in year 1 after graduation
• up to £1,500 in year 2 after graduation
• up to £1,000 in year 3 after graduation

But I have definetely had a £1850 interest free overdraft for the past year - that's why I am a bit confused as to what it has been decreased to. Perhaps I shouldn't complain if I have been getting more than I should have.

Thanks for the advance on the loan but I wouldn't be accepted at the moment - credit file has went to pot.

missweasel

Yeah well in my first year i got £1800 overdraft, I still have it in my second year but they charge me interest on the extra £300 as Im only entitled to £1500 interest free but the interest is minimal.