---
title: Monzo Overdraft Rate & Real 30-Day Cost (August 2026)
description: Monzo charges −£3.60 for 30 days overdrawn at £250 (19% EAR). See the full cost table and how it compares with all 15 UK banks.
image: https://overdrafts.com/brand/og/monzo.png
canonical: https://overdrafts.com/monzo/
updated: 2026-08-28
---

# Monzo overdraft: the real cost

Cheaper than most overdrafts on the board.

## What 30 days overdrawn costs

| Amount overdrawn | Cost over 30 days |
| --- | --- |
| £100 | −£1.44 |
| £250 | −£3.60 |
| £500 | −£7.20 |

19% EAR · best tier · No interest-free buffer

## How the £250 figure is worked out

Amount charged interest

£250

Daily rate from 19% EAR

0.0477%

Cost over 30 days

−£3.60

#5 of 15 cheapest at £250 · cheapest right now: [First Direct →](https://overdrafts.com/first-direct/)

## Rate history

No rate changes on record: verified unchanged back to May 2023 across 51 archived snapshots of Monzo’s own pages, and checked daily since tracking began 28 August 2026.

## Sources

-   [Monzo’s published overdraft rate page](https://monzo.com/features/overdrafts/) · checked 28 August 2026

## Common questions

### How much does the Monzo overdraft cost?

At £250 overdrawn for 30 days, Monzo charges −£3.60 at its advertised 19% EAR. At £100 it’s −£1.44; at £500, −£7.20.

### Does Monzo have an interest-free buffer?

No. Interest applies from the first pound of an arranged overdraft.

### Is Monzo the cheapest overdraft?

Not at £250 overdrawn: it ranks #5 of 15. The cheapest right now is First Direct. The full leaderboard has every bank.

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

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