Overdrafts with the CBILS
CBILS overdrafts with Starling will provide access to overdraft finance from £50,001 up to £150,000 for limited companies and Limited Liability Partnerships.
Our overdraft interest rates
Limited companies and limited liability partnerships: 10% and 15% EAR (variable) based on our assessment of your business - representative 10% EAR (variable). At setup, we charge a fee of 1.5% (minimum £50) of your agreed limit, which is charged annually.
You may be eligible under the scheme to apply for a Business Interruption Payment which will enable you to claim back the Arrangement Fee and the first year of interest charges.
Interest is accrued daily and charged on the 15th of the following month and it’ll always be updated clearly in your app.
An EAR (Equivalent Annual Rate) is a common way of showing interest rates on overdrafts which you can use to compare different banks’ interest rates. This does not include fees (such as set-up or annual renewal fees). The Representative EAR is the rate we expect at least 51% of our customers to get.