Personal overdrafts.

The Kroo overdraft.

Overdrafts* are a way to borrow extra funds to tide you over now and then.

The faster it’s repaid, the less it costs you to borrow.

One interest rate: 24.9% EAR/APR representative (variable). There are no hidden fees and no penalty fees.

* Coming soon. Subject to status.

** Interest calculated for periods over 30 days assumes the customer has repaid their interest when it fell due and therefore is not included in the interest amount calculated in in the next month.

Overdraft cost calculator

MIN. £0 - MAX. £3,500

Using the overdraft for:

Personal overdrafts.

It’s your overdraft.

With an arranged overdraft from Kroo, you can apply to borrow up to £2,500, depending on your eligibility. An overdraft is a credit facility and is designed to be used for a short time (think of it as a short-term safety net, for example, to pay an unexpected bill) and repaid when you receive your income.

Kroo offers a straight forward interest rate with no fees. Kroo will not generally allow unarranged overdrafts, except in rare circumstances. More information about unarranged overdrafts and exceeding any arranged overdraft limits can be found below.

Interest, no fees.

Kroo overdrafts don’t have fees, we only charge interest on what you borrow, when you borrow. This means the quicker you repay your overdraft, the less interest you will have to pay.

One interest rate: 24.9% EAR/APR representative (variable). There are no hidden fees and no penalty fees.
As a representative example, if you borrowed £1,200 on an arranged overdraft for 30 days, it would cost you £22.13 at an interest rate of 24.9% EAR/APR (variable).

How does our overdraft compare?

You can use the representative APR to compare the cost of our overdraft with other providers because it gives you the annual rate of interest including any other fees and charges.

You’re in control.

We want you to feel comfortable managing your overdraft. That’s why you’re in control, whether lowering or requesting a higher limit, or cancelling your overdraft, you can do it all from the Kroo app.

If eligible, you could have an overdraft with Kroo up to £2,500. Like all credit products, exact limits and eligibility vary case by case. You can use our overdraft calculator above to find out how much a Kroo overdraft could cost.

Questions? Answers.

Unarranged Overdraft
Unarranged overdrafts occur when you borrow more than your agreed overdraft limit, or borrow without an agreed limit. Kroo doesn’t provide unarranged overdrafts, so payments will normally be declined if they would create an unarranged overdraft. However there are some scenarios where an ‘offline’ transaction (such as on a flight or travelling via TFL) may be processed. If a payment is processed causing an unarranged overdraft we’ll notify you, and interest is charged at the normal arranged overdraft rate, but you will be asked to make a payment to bring the account back within its limit. In the event of an unarranged overdraft we limit the maximum monthly charge to £15.

Exceeding your arranged overdraft limit or being overdrawn without an arranged limit can impact your credit score, which can make it harder for you to borrow in the future.
Effective Annual Rate (EAR)
EAR stands for effective annual rate. This is equivalent to the total rate of interest you'll pay if you're overdrawn for a year. Interest is paid on the amount you’re overdrawn by, as well as on the interest that compounds from being overdrawn. EAR only reflects the effective annual rate of interest and doesn’t include other fees (but you know, we don’t charge those).
Annual Percentage Rate (APR)
APR stands for annual percentage rate, it also includes fees and charges but since we don’t charge anything other than interest, our EAR and APR are the same.

Representative APR is the rate we currently offer to more than half of those who apply for our product, but since we offer only one rate, our representative rate is our actual rate.
EAR and APR (variable)
Variable means we have the right to change the rate, but we’ll give you at least 30 days notice if we increase it.