---
title: First Direct Overdraft Rate & Real 30-Day Cost (August 2026)
description: First Direct charges £0.00 for 30 days overdrawn at £250 (39.9% EAR, first £250 interest-free). See the full cost table and how it compares with all 15 UK banks.
image: https://overdrafts.com/brand/og/first-direct.png
canonical: https://overdrafts.com/first-direct/
updated: 2026-08-28
---

# 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](https://www.firstdirect.com/overdrafts/) · 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.

[← Back to the leaderboard](https://overdrafts.com/#board)

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