Overdraft Of 1000 Online Account

[jennyjoan]

I don't know how this works if I were to use  it to pay for adaption do I pay interest. Advice would be welcome

[Zacs-Master]

You'd have to tell us (or read) the terms and conditions. 

[jennyjoan]

Overdraft in santander

[Redhelen72]

https://www.santander.co.uk/personal/support/current-accounts/overdraft-cost-calculator

[Zacs-Master]

And is it on your current account?

[bednobs]

when would you be able to pay it back?  Interest rates are usually high and it's a terrible way of borrowing money

 

[barry1010]

I hope you are shopping round for the best price for adaptations, JJ.

I would pay on credit card for the s.75 protection 

[youngmafbog]

Generally speaking, and you must read the Terms and Conditions because they all differ, Bank overdrafts are there for the very short term hiccups you may have such as you need to pay your car tax 2 days before pay day.

Using an approved overdraft(usually) means you pay a higher rate of interest but dont attract a fee for the priviledge, if you take an unauthorised overdraft then you get a fee and interest.

An overdraft should never be used for the purchase of anything except in the circumstance as I showed above (i.e. you will pay it back in days) for anything else sue a crediti card for medium (but only if you have the strong will to pay back) or a fixed loan for longer term, 6mth+.

But remember everyone is different, this is only a very general view on the matter.