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Natwest Graduate account overdraft charges
Snork_Maiden_2
Posts: 16 Forumite
Official MSE Insert:
If you've arrived from Google looking for help with Graduate accounts, see our fully researched Graduate account guide.
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Hello I hope some kind person can help me
I had a letter this morning from Natwest saying after July I will have to pay a monthly charge for my previously free student overdraft, It doesn't say how much I will have to pay or when the paymwnt goes out, I am overdrawn £1600 but its only interest free for the £1000 I think, and it says I will pay EAR% Typical variable 17.81. Now I am useless at maths and I have no idea what this means, does anyone have an idea on what my monthy charge will be? I think its the £600 I have to pay interest on, I'm abit worried as I don't have any money in my account at the moment I don't want them taking money out yet.I knew I would be charged but I for some reason thought it would start next july. I havn't had any letters about this u till today, abit short notice isnt it. Any help is appreciated
If you've arrived from Google looking for help with Graduate accounts, see our fully researched Graduate account guide.
Back to the original post...
Hello I hope some kind person can help me
I had a letter this morning from Natwest saying after July I will have to pay a monthly charge for my previously free student overdraft, It doesn't say how much I will have to pay or when the paymwnt goes out, I am overdrawn £1600 but its only interest free for the £1000 I think, and it says I will pay EAR% Typical variable 17.81. Now I am useless at maths and I have no idea what this means, does anyone have an idea on what my monthy charge will be? I think its the £600 I have to pay interest on, I'm abit worried as I don't have any money in my account at the moment I don't want them taking money out yet.I knew I would be charged but I for some reason thought it would start next july. I havn't had any letters about this u till today, abit short notice isnt it. Any help is appreciated
0
Comments
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You will be charged 0% on £1000 and 17.81% a year on £600. So you will get monthly overdraft interest charges of £8.90/£8.910
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