Demo rate card29.9% EAR (variable), with the first £50.00 interest-free
The pound values and percentages on this page are invented AcornBank product terms, chosen for a realistic bank-style example. They are not current market offers, an invitation to deposit or invest money or a forecast of what a real bank will pay.
| Product detail | Demo terms |
|---|---|
| Account type | Arranged overdraft |
| Rate, reward or charge | 29.9% EAR (variable), with the first £50.00 interest-free |
| Illustrative credit limit | £0.00 to £1,000.00 |
| Access | Up to £1,000 arranged borrowing; the first £50 is interest-free in this demo model |
| Eligibility in the scenario | An adult Acorn Everyday story customer with an assumed arranged limit |
| Fees | No model account fee |
| Currency | GBP (£), used solely for fictional calculations |
Overdreyft Buffer questions
What is Overdreyft Buffer for?
A buffer, not a savings pot. The model applies interest only to the amount above £50 and shows what a shortfall costs over several durations. There is no real credit facility to draw on. Its story purpose is illustrating the cost of a short-lived current-account shortfall. Everything on this site is fictional; nothing can be applied for.
How is interest on Overdreyft Buffer worked out?
29.9% EAR (variable), with the first £50.00 interest-free. The EAR is converted to a daily equivalent and applied to borrowing above the £50 buffer.
What is the limit on Overdreyft Buffer?
Illustrative credit limit: £0.00 to £1,000.00. It is a cushion, not a savings pot.
Is the first £50 really free?
In the model, yes: interest applies only to the amount above the buffer. Nothing is really free because nothing is really borrowed.
Current accounts questions
Shared across the whole range.
Which current account should I use for personal spending?
In the story, Acorn Everyday. It pays no interest and charges no fee; its job is tracking movements. Branch Out Business is the ledger for a woodland stall and charges £6 a month.
Does a current account pay interest?
No. Both current accounts pay 0.00% credit interest in the model. Money meant to earn something belongs in the savings range.
How much does the overdraft cost?
Overdreyft Buffer charges 29.9% EAR (variable) on borrowing above a £50 interest-free buffer. A £500 shortfall for 30 days costs a few pounds; a lingering one costs much more. The product page shows 7, 30 and 90 days.
Can I make real payments from these accounts?
No. Payment scenarios are stories. There is no payee list, sort code or card that moves real money.
Where are the credit cards?
In their own range, so each card’s reward or offer can be shown next to its borrowing cost.
Overdreyft Buffer is arranged overdraft in the Current accounts range, used for illustrating the cost of a short-lived current-account shortfall. Its live rate card, summary and worked tables sit above this text and update whenever the product record changes.
Frequently asked squeaks
The questions and answers on this page come from AcornBank’s single shared FAQ collection, so the same wording appears here, on the Current accounts hub and in the full FAQ list. Every answer is about a fictional product: 29.9% EAR (variable), with the first £50.00 interest-free is a demo figure and nothing can be applied for. The summary and worked figures below give the numbers the answers refer to.
See the whole Current accounts range or compare every product on the rates page.
What the example does not promise
All figures are invented and shown to make the demo useful to read and crawl. No money is held, no application is available, and no deposit-protection, regulatory or tax-wrapper status is claimed. Calculations do not account for personal tax, inflation or unstated changes in rates. The fictional bank manager can guarantee only that the next paragraph contains no real acorns.
Related reading
- This Is a Fictional Bank — No Real Banking Here
- Site Map — Every Branch of AcornBank
- Rates — Savings, Borrowing and Rewards
- Help — Unruffle Your Tail
- Current Accounts — Everyday Banking for Busy Squirrels
- Overdreyft Buffer — Compare the Canopy
- Overdreyft Buffer — Fictional Product Terms
AcornBank: entirely fictional banking, exceptionally committed squirrels.