How long to repay a NatWest overdraft?
| Author | Message |
|---|---|
|
Written on: 06.01.2010 [05:24]
|
|
|
Pritam
Pritam
Topic creator
Posts: 2
|
I recently graduated my degree and had a NatWest overdraft of around £1,200 by the day of my graduation. I don’t have any set jobs lined up and I am scared that I wont be able to pay it back straight away. How long do I get in order to pay it back? If they ask for the money back straight away how long do they give you in that situation to pay it back? Will there be any way around this if it ever happens? |
|
Written on: 12.01.2010 [07:50]
|
|
|
Jayadeep
Jayadeep
Posts: 3
|
If NatWest are anything like Barclays then you get around 3 years to reduce your overdraft. In the first year you are still allowed the maximum amount, the second year I think it goes down and then again in the third year until it is paid off. But I think you can also apply for a graduate overdraft but it costs, whereas the first three years or so are usually free. I would try and pay it back as soon as possible. If they do end up just asking for it back just like that then I would try and see whether you can agree on some kind of payment plan, then if they do not agree, I am not sure but perhaps you could try and see if another bank would let you open an account with them as a graduate with the overdraft facility. But again this may not work. |
| Also very interesting: | |
