Graduate Overdraft

Add some 'wriggle room'
to your current account

A wee bit help when you're entering the working world

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

Get an instant decision if you bank online with us

Have your overdraft the next working day

Could be useful for short-term borrowing or in an emergency

Things to remember about overdrafts

Overdraft details

Overdrafts Explained

Graduate Arranged Overdraft

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.

Unarranged Overdrafts

An Unarranged Overdraft is when you spend more money than you have in your account without already having an Arranged Overdraft, or when you exceed your current arranged overdraft limit.

Both types cost money

Both types of overdrafts will cost you money in fees, but an unarranged overdraft will cost you more and might result in payments such as household bills being rejected.

We're making some changes to our overdraft pricing

These changes are happening between 27th and 31st March 2020.


Get an instant decision

If you bank online with us, apply through Digital Banking, we'll pre-fill your application and let you know straightaway if you’ve been pre-approved.

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).

Have your Overdraft the next working day

If we approve you for an Arranged Overdraft, your limit could be applied to your account as soon as the next working day.

Get an interest-free buffer

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

More Info

Manage your Overdraft online

We’ll show you how to increase, reduce, remove your overdraft limit.

It's easy to apply

Already with Royal Bank of Scotland? If you apply online, the application usually takes less than 5 minutes.

Check your account balance at any time

Use Online Banking to check your balance whenever you want.

What are the Overdraft charges?

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.

Tools to help you

Check your chances before applying

Give our eligibility tool a try and find out if you're likely to be approved for an overdraft. It can give you an idea of your potential overdraft limit and representative APR.  It takes just a few minutes and it won't harm your credit rating. 

Find out how much you're likely to pay

Why not use our overdraft cost calculator to see what an overdraft could cost you? The great news is it won't impact your credit rating.

How to apply online

What will I need?

You’ll need your Digital Banking Log in details and your address history from the last 3 years.

How long will it take?

The application takes about 5 minutes and you'll know if you've been accepted or not straight away.

When will my overdraft be in place?

If your Overdraft is approved Mon – Thur before 5.30pm, it will be available the next working day. Anytime after this - up to 2 working days.

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:

  • Be aged 18+ and living in the UK
  • Have not been declared bankrupt in the last 6 years
  • Have read our pricing changes information

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

Are you ready to continue?

Great! Looks like you're all set and ready to go