The minus that runs along every month.
Around 11 per cent interest, every day, without end – and for every bank the number one warning sign on the bank statement. The calculator shows what your overdraft costs and which exit saves how much.
Frequently asked questions
Does an overdraft harm my SCHUFA record?
The granted overdraft is usually not reported to SCHUFA – only a termination with an open claim, or a tolerated overdraft that the bank treats as a breach of contract. But: banks and card partners read the bank statement. A permanently maxed-out overdraft is the clearest warning sign there, regardless of the score.
Is an instalment loan to pay off the overdraft sensible?
Mathematically almost always, if the loan rate is clearly below the overdraft rate (typically 5 to 9 per cent against 11 and more) and you can carry the instalment safely. Precondition: the overdraft is not built up again afterwards. Enquire with a conditions enquiry, not a loan enquiry – it is SCHUFA-neutral.
What if the bank cancels the overdraft?
It may do so with reasonable notice – and the open sum becomes due in one go. React immediately in writing with an instalment offer; a failed repayment after cancellation is the route to a negative entry. The instalment plan calculator drafts the offer.
How do I get out of the overdraft if no loan is possible?
With a fixed reduction amount per month, right after your salary arrives, and an overdraft limit that you have the bank lower yourself – step by step, so the old level is not reached again. The calculator shows how many months that takes and what it saves in interest if you raise the amount by only 50 euros.
What is a tolerated overdraft?
Everything beyond the granted overdraft limit. For that many banks charge an even higher rate – often 14 to 18 per cent – and may demand repayment at any time. The tolerated overdraft is the most expensive form of credit in everyday life.