Halifax O/D equivalent apr?

Nicky321

I have a halifax overdraft of £1800 which is maxed out and always is due to me being up until now able to pay anything more off it than my monthly charge (daily rate £1.00) this is costing £360 a year roughly but i want to try and reduce this, but in my snowball calculator i do not know the apr therefore I am unable to prioritize this debt.

Please help. x

Brenster

Based on you paying £360 on a overdraft of £1800 (assuming this is continuously maxed out, then you are paying 20% APR), however if you are only at 1800 at the end of the month and your average is ....say...1000, then it would be an APR of 36%, hopefully this is clear.

Catslovelycats

Does it say anything on their website that might help you?

Tixy

For the snowball I would put it in at 20%, whilst not entirely accurate its as sensible an option as you can put into the calculator, if you have debts costing more than 20% then you should pay them off first.