What Does INT Mean on a Bank Statement?
INT on a bank statement means interest. It can go either way: interest paid to you on a credit balance, or interest charged to you on an overdraft or borrowing.
The sign tells you which. A credit adds to your balance; a debit is a cost, and it is worth understanding what triggered it.
At a glance
- Stands for
- Interest
- Money in or out
- Either — check the sign
- Interest paid
- On credit balances and savings
- Interest charged
- On overdrafts and borrowing
- Usually applied
- Monthly or quarterly
Key Takeaways
- INT means interest, and it can be paid to you or charged to you.
- Interest charged usually relates to an overdraft, and it is applied periodically rather than daily.
- Interest paid on savings is normally credited monthly or annually depending on the account.
- Regular interest charges are a signal worth acting on, because overdraft rates are typically far higher than other borrowing.
What does INT mean on a bank statement?
INT is short for interest. Which direction it goes depends entirely on your balance.
- Interest paid to you appears as a credit. This is what your bank pays on money you hold, whether in a current account that pays interest or a savings account.
- Interest charged to you appears as a debit. This is the cost of an overdraft or other borrowing on the account.
Some banks label these more clearly — INT PAID and INT CHARGED, or CREDIT INTEREST and DEBIT INTEREST.
Why interest appears when it does
Interest is normally calculated daily but applied periodically — monthly for most current accounts, monthly or annually for savings. That is why a single entry can cover a whole month of small daily amounts, and why the figure can look larger than expected.
Your bank must tell you in advance if it is going to charge you overdraft interest, so a charge should never be the first you hear of it.
If you are being charged interest every month
A recurring INT debit means you are living in your overdraft rather than dipping into it. That is worth acting on for two reasons.
The first is cost: overdraft interest rates are typically far higher than a personal loan or a credit card, so it is one of the most expensive ways to borrow.
The second is that lenders read it. A permanent overdraft balance affects what a mortgage lender will offer, and how they view your account conduct — see what mortgage lenders look for on bank statements and mortgage rejected due to overdraft.
How INT compares with other codes
INT is a cost or a payment rather than a transaction with a third party. For account fees see CHG, and the bank statement codes hub covers the rest.
Frequently asked questions
Is INT money in or money out?
Either. Interest paid to you on a credit balance is money in; interest charged on an overdraft is money out. The sign on the entry tells you which.
Why is my interest charge higher than I expected?
Because interest accrues daily but is applied in one lump, usually monthly. A single entry can represent a whole month of daily charges.
Can I get overdraft interest refunded?
Sometimes, particularly if you went overdrawn through a bank error or were not warned. It is worth asking, and worth complaining formally if you believe the charge was unfair.
Does paying overdraft interest hurt my credit file?
The interest itself is not recorded, but persistent overdraft use is visible to lenders reviewing your statements and can affect what you are offered.
General information only, not financial advice. If you don't recognise a transaction, contact your bank.
