First Direct overdraft: the real cost
The only overdraft that can cost you nothing.
What 30 days overdrawn costs
| Amount overdrawn | Cost over 30 days |
|---|---|
| £100 | £0.00 |
| £250 | £0.00 |
| £500 | −£7.00 |
39.9% EAR · First £250 interest-free
How the £250 figure is worked out
- Amount charged interest (£250 − £250 interest-free)
- £0
- Daily rate from 39.9% EAR
- 0.0920%
- Cost over 30 days
- £0.00
#1 of 15 cheapest at £250
Rate history
No changes since tracking began 28 August 2026.
Sources
- First Direct’s published overdraft rate page · checked 28 August 2026
Common questions
How much does the First Direct overdraft cost?
At £250 overdrawn for 30 days, First Direct charges £0.00 at its advertised 39.9% EAR, after the first £250 interest-free. At £100 it’s £0.00; at £500, −£7.00.
Does First Direct have an interest-free buffer?
Yes. The first £250 of an arranged overdraft is interest-free, and interest applies only above that.
Is First Direct the cheapest overdraft?
At £250 overdrawn, yes. It tops the leaderboard right now.