Petition · HM Treasury
Cap arranged bank overdraft fees at 10%
Closed
35 signatures
What the petition asks
Currently the UK does not have a cap on the interest rate charged on arranged overdrafts. My own bank charges a rate of 49.9% EAR (Effective Annual Rate). Interest applied daily.
We think a cap of 10% (still well above the current inflation rate) is fair and should be imposed by statute.
These interest rates disproportionately effect the poorest in society. Are higher than most credit cards. If Labour wants to truly help the more vulnerable, we believe this would be a significant achievement
These interest rates disproportionately effect the poorest in society. Are higher than most credit cards. If Labour wants to truly help the more vulnerable, we believe this would be a significant achievement
Timeline
| 9 Jun 2025 | Petition opened for signatures |
| 9 Dec 2025 | Closed to new signatures |
Key facts
Signatures
35
Status
Closed
Department
HM Treasury
Opened
9 Jun 2025
Closed
9 Dec 2025
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Source: the official petition page. Last checked 25 Aug 2026.