Santander overdraft- they say not as costly

Geranium44

Hi I’m with Santander and have an agreed overdraft and when I enquired recently what the monthly overdraft charge would be for a nominal £1000 over one month, the bank said it’s 39% but that’s annual charge so divide by 12. 

Anyone able to share what £1000 per month on the 123 lite account would charge? Many thanks 

molerat

Around £32 - £33 - £34 per month depending on number of days, the 123 Lite interest rate is actually 39.94%.

Geranium44

Thanks for the insight.