When does the arranged overdraft interest holiday start?
Applications for the Starling Coronavirus Support Scheme are open from 1 April 2020 to 30 June 2020. If your application is successful, you won’t have to pay any arranged overdraft interest on the first £500 of your overdraft, for 90 days from the day your application is accepted. Interest charges will resume the day after the holiday has ended.
Who can apply?
You can apply for an interest holiday if:
- You’ve suffered a drop in income because of coronavirus. For example, work has dried up or you can’t work due to self-isolation, you have new caring responsibilities
- Starling is your primary bank account, which you pay your main income (or equivalent) directly into
- You’re having difficulties meeting payments to keep your account in order or bringing it up to date
Is an interest holiday the right option for me?
The Starling Coronavirus Support Scheme is intended as a temporary support measure for customers who have experienced a drop in income, or expect to soon.
Will this affect my credit score?
No, it won’t. We won’t report your interest holiday to credit reference agencies, and so this won’t have an impact on your credit file.
What happens next?
- Get in touch with our customer service team to apply. They’re available 24/7 via phone, email or in-app chat.
- If you’re approved, your interest charges will be instantly waived for three months.
- We’ll get in touch 30 days before the end of the holiday to remind you when payments will be resuming.