Student Debts

DilbertJones

My Girlfriend is £1500 overdrawn in her Barclays Graduate Account, unfortunatley not interest Free.

She Graduated in 2002 - Are we too late to start looking for a interest free overdraft? Is there anywhere else we can go to who will accept a £1500 overdraft that are cheaper than Barclays?

She will stop working soon due to our new baby, so obviously a few quid saved each month will benefit us tremendously

grumbler

AFAIK Nationwide has the lowest agreed overdraft iterest rate - 7.25%. However, they are quite 'choosy' and the overdraft limit depends on monthly pay-in. You can try to open a joint account though.

Cahoot account comes with automatic £250 interest-free overdraft.

Some other banks with lower (authorised) overdraft rates:
Abbey 9.9%
Smile 9.9% (min. limit £500)
Intelligent Finance 9.8%.

Also consider Cahoot flexible loan with 6.9% 'typical' APR. Don't expect that they give this rate to your gf or to you though.
And, of course, 0% or low life-of-balance interest rate credit cards.

davidcampbell

just to add to grumblers info

abbey 9.9% is dependent on £1000 credit per month, otherwise reverts to 16.9%.

(looked for same info on IF as well but couldnt find any conditions.)