Treasurers Overdrafts

Short term overdraft finance can be made available to organisations like churches, clubs, societies, charities and associations but only where the organisation’s constitution and a majority of the members give authority for finance to be raised in this way.

• There is no minimum or maximum amount – the level is agreed between you and your Relationship Manager.
• Variable Interest Rate linked to the Royal Bank’s Base Rate
• Interest is calculated on the daily cleared overdrawn balance and is applied quarterly
• Arrangement Fee 1% of facility, renewal 0.5% of facility

Application for finance by way of Loan is also subject to suitable authority in the organisation’s constitution and members consent to borrow.