Student Overdraft application | Royal Bank of Scotland

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Student Overdraft

No set-up fees or hidden costs when you arrange an Overdraft on your Student Current Account

Student Overdraft What is an Arranged Overdraft?

An Arranged Overdraft is an agreement between yourself and Royal Bank of Scotland that enables you to borrow money up to a pre-agreed limit.

For example, if you successfully applied for an Arranged Overdraft of £250 and then had only £50 of your own money in your current account, the Arranged Overdraft would allow you to make a payment of up to £300.

Why apply for an Arranged Overdraft?

It's interest free as long as you stay within your limit and hold a Student Account.  

There's no set up fee or hidden costs.

In your first term of first year, you'll be able to apply for an overdraft of up to £500.

After your first term of your first year, you'll be able to apply for up to £2,000.

It'll only take a few minutes to fill in the online application >.

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Overdraft Calculator


Get savvy with your overdraft.

Use our Overdraft Calculator to see how an Arranged Overdraft can help save you money.

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Student Overdraft Fees

Although an Arranged Overdraft with your Student Account is interest free, it is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Arranged Overdraft limit in place, before any payments are due to come out of your account.

If you don't have the available funds for payments leaving your current account, they may be returned unpaid. If this happens there is an Unpaid Transaction Fee of £6 charged for each transaction we reject (Subject to a maximum of £60 per charging period*).

Your charging period runs from month to month, usually from the date you opened your account. For example, if you opened your account on 15 August, your charging period will run from the 15th of each month to the 14th of the next month. You can find out your charging period by contacting us.

Applying for an Arranged Overdraft on your Student Account Completing your application

To apply you need to:

  be 18 or over, UK resident and have a Royal Bank of Scotland Student Account

  have your banking details ready

  make sure you don't apply for more than you would be accepted for

 

Start application

Apply to change an existing Student Overdraft

Arranged Overdrafts on Student Curent Accounts Still not sure about applying for a Student Overdraft?

We know the last thing you want to do is fill out another form but this shouldn't be too painful and should only take a couple of minutes if you have your banking details to hand.

Why apply for credit?

Manage your outgoings

Paying your overdraft back

Already have an Arranged Overdraft? Student Credit Card

If you already have an Arranged Overdraft or don't wish to apply for one, you could consider the Student Credit Card. Again, you need to be over 18, a UK resident and hold a Royal Bank of Scotland Student Current Account to apply.

Representative 18.9% APR (variable)

Arranged Overdraft with your Student Account What's next?
Apply online
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