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A & L overdraft charges

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mrso2b

mrso2b Posts: 314 Forumite

22 February 2011 at 4:19PM in Debt-free wannabe

Can someone please help me? I'm being charged 50p a day on my A & L overdraft of £1300. What percentage rate is this?

Thanks in advance.

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Comments

mancitychick Posts: 977 Forumite

22 February 2011 at 4:23PM

As far as I was aware they charge 50p per day upto a maximum of £5 per month.

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mrso2b Posts: 314 Forumite

22 February 2011 at 4:33PM

Ok thanks. Any idea what that equates to in interest rates? I'm so sorry but I'm rubbish at mathes and I want to do that snowball calculator thing.

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mrsb83_2 Posts: 914 Forumite

22 February 2011 at 5:20PM

About 1.14% a month or 14.6% per annum according to my calculations...

Total Debt Sept 2010 - £24,132.38 / Current - £0.00/ 100% paid

DFD - [STRIKE]Aug 2014[/STRIKE] 24th Aug 2012

£10 a day // Jun - £64/£300 / Jul - £133/£310 / Aug - £281/£310
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mrso2b Posts: 314 Forumite

23 February 2011 at 12:05PM

thanks very much mrsb

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