Graduate Overdraft

Add some 'wriggle room'
to your current account

A little help when you enter the world of work

Interest-free overdraft up to £2,000 (for your first year)

May be ideal for short-term borrowing

Check your account balance at any time

Overdraft details

Benefits

No interest to pay for the first year

You can apply for an Arranged Overdraft of up to £2,000, interest-free (subject to approval).

No interest to pay - in detail

The amount of your Arranged Overdraft that's interest-free reduces each year after your graduation. This is to help encourage you to pay back money you may have borrowed whilst studying. In your first year after graduation, up to £2,000 will be interest-free. In your second year after graduation, you can still have an overdraft of £2,000, but only the first £1,000 will be interest-free.

No set-up fees

We won’t charge you to set up your Graduate Overdraft.

Already with Royal Bank of Scotland? It’s easy to apply

If you apply online, the application usually takes less than 5 minutes.

Get an interest-free buffer

If you apply for a Graduate Overdraft, it may come with an interest-free buffer.

Interest-free buffer - in details

An interest-free buffer is the amount we’ll allow you to go overdrawn before the charges kick in. The interest-free buffer we give you depends on when you graduated and how long it’s been since your graduation date.

Check your account balance at any time

Use Online Banking to check your balance whenever you want.

Have your statements at your fingertips

We'll send you an email when your statements are ready to view in Digital Banking. You can check it whenever you want.

More Info

How our Graduate Overdraft may help

When you’re about to enter the world of work, your day to day expenses could change. That’s where our Graduate Overdraft could help.

How our Graduate Overdraft may help – in detail

After you graduate and get a job, your current account might feel like it’s under attack, what with rent, groceries, transport and so on. Our Graduate Overdraft is here to help. It could give you a safety net until your salary is paid into your account.

What you should know

 

Our Graduate Overdraft is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Graduate Overdraft limit in place before any payments are due to come out of your account.

What is an Unarranged Overdraft?

An Unarranged Overdraft is when you spend more money than you have in your account and you haven’t previously arranged an overdraft limit with us.

Unarranged Overdraft – in detail

If you go into Unarranged Overdraft, we’ll charge you an Unarranged Overdraft usage fee of £8. (The maximum we’ll charge you in a monthly charging period is £72.)

Unpaid Transaction Fee

 

If you're in an Unarranged Overdraft and you try to withdraw more funds, you'll also be charged an Unpaid Transaction fee of £8. (The maximum we’ll charge you in a monthly charging period is £8.)

What might this Overdraft cost?

Representative Example: If you have a Graduate account with an Arranged Overdraft limit of £2,000 and you use all of this, you will be charged Arranged Overdraft interest at 9.9% EAR on £1,000 of that £2,000.

Ready to apply?

Great thanks for choosing our Graduate Overdraft. Let's get started. Are you a ...

Our Graduate Overdraft is for customers who already have one of our Graduate current accounts. Want to find out more?

Do you have a Graduate bank account with us?

Our Graduate Overdraft is for customers who already have one of our Graduate current accounts. Want to find out more?

Great! As we already know a bit about you, applying should be straightforward. Now for the important legal stuff.

To apply online, you must meet these requirements

  • You're aged 18+
  • You're living in the UK
  • You've not been declared bankrupt over the past 6 years

Important Information

Please take some time to review, print and/or save the important information. By clicking that you're ready to continue, you are confirming that you have been provided with, and acknowledge our important documents

How your information might be used

It's important for you to understand how we use and share your information.  Please read this short summary before you continue with your application.

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