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Featured - ISA allowance
What is the 2024/25 ISA allowance?A new tax-year means a refreshed ISA allowance to allocate. Find out more about the 2024/25 ISA allowance...
Savings
ISAs
Mortgages
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - travel insurance
Travel insurance 2024Discover the best travel insurance policy for your next trip.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Featured - The triple lock explained
Could the value of your state pension rise by more than inflation?
Retirement
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
EAR is short for equivalent annual rate, which is the interest rate you are charged if you go overdrawn on your current account.
EAR is a representative interest rate that shows the rate you would pay if you remained overdrawn for a year. It is determined by:
Bear in mind that the equivalent annual rate doesn't take into account any other account fees, which you may also be charged, such as an account fee.
However, all overdraft providers must now also publish an Annual Percentage Rate (APR) which does include some other fees. You can now use the APR to compare overdraft rates more fully. You will see an APR on all advertising for current accounts, including websites.
You can learn how current account overdrafts work or how to stay overdraft free by reading our guides.
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Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
This guide reveals which brands operate under which banking licence, helping savers work out to what degree their savings are protected by the FSCS.
This guide reveals which brands operate under which banking licence, helping savers work out to what degree their savings are protected by the FSCS.
Overdrafts are a form of borrowing from your bank or building society, and they can be expensive, so it is important to compare interest rates. Find out more here.
Overdrafts are a form of borrowing from your bank or building society, and they can be expensive, so it's important to compare the interest rate.
With AER, gross rate and net rate all ways of expressing the amount of interest paid by an account, find out the key differences between these three concepts.
With AER, gross rate and net rate all ways of expressing the amount of interest paid by an account, find out the key differences between these three concepts.
A standing order is a way of setting up a regular, fixed payment from your bank account. Read the Moneyfacts guide to find out more about standing orders.
A standing order is a way of setting up a regular, fixed payment from your bank account. Read the Moneyfacts guide to find out more about standing orders.
This guide reveals which brands operate under which banking licence, helping savers work out to what degree their savings are protected by the FSCS.
This guide reveals which brands operate under which banking licence, helping savers work out to what degree their savings are protected by the FSCS.
Overdrafts are a form of borrowing from your bank or building society, and they can be expensive, so it is important to compare interest rates. Find out more here.
Overdrafts are a form of borrowing from your bank or building society, and they can be expensive, so it's important to compare the interest rate.
With AER, gross rate and net rate all ways of expressing the amount of interest paid by an account, find out the key differences between these three concepts.
With AER, gross rate and net rate all ways of expressing the amount of interest paid by an account, find out the key differences between these three concepts.
A standing order is a way of setting up a regular, fixed payment from your bank account. Read the Moneyfacts guide to find out more about standing orders.
A standing order is a way of setting up a regular, fixed payment from your bank account. Read the Moneyfacts guide to find out more about standing orders.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.