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Student arranged overdraft

Interest-free overdraft
of up to £2,000

See how a Royal Bank overdraft could help

An arranged overdraft lets you borrow money up to an agreed limit on your bank account. So if things are a wee bit tight, an arranged overdraft could help bridge the gap short-term.

Interest free up to £2,000

  • Interest-free arranged overdraft up to £2,000 (£500 in your first term)
  • Get handy text alerts to help you stay on top of things

Apply with ease

  • It takes around 5 minutes to apply through Digital Banking
  • Get a decision straight away if you bank online with us

Get your funds quickly

  • If your application is successful, you’ll normally have the funds available on the next working day. But there are some exceptions.

Features and benefits

Before you apply

Overdrafts explained

We know it’s not always easy to understand overdrafts, so we’ll keep you right by explaining the difference between arranged and unarranged overdrafts. The first thing to know is that both types will cost you money in interest when you use them. But there are other differences too.

Student arranged overdrafts

An arranged overdraft allows you to go overdrawn up to an agreed limit. This type of borrowing could help when you're entering the world of work, your day-to-day expenses are changing and pay-day feels a long way off.

Unarranged overdrafts

An unarranged overdraft is when you spend more money than you have in your bank account and you don’t already have an arranged overdraft in place, or when you exceed the arranged overdraft limit you already have on your account.

If you're accepted

Manage your overdraft easily, wherever you are

You can use our mobile app or Digital Banking services to see your balance or change your overdraft limit at a time that suits you.

Text alerts to keep you on the straight and narrow

Our free text alerts help you to keep an eye on your spending.

Interest-free

You can apply for an arranged overdraft of up to £2,000, interest-free after your first term (subject to approval).

Tools to help you out

Check your chances of being accepted before applying

Have a shot of our eligibility checker tool, which will help you understand if you’re likely to be accepted for an overdraft before you start an application. It only takes a couple of minutes and it won’t harm your credit rating.

Find out how much interest you're likely to pay

Our cost checker tool allows you to see how much interest you’re likely to pay based on how much you plan to borrow, and how regularly you want to use it.

Get ready to apply

You can apply for an overdraft if you:

  • Are aged 18+ and living in the UK
  • Have not been declared bankrupt in the last 6 years

Now, please read these important documents

Please take some time to review, print and/or save the below important documents.

All okay? Let's get started.

What type of Royal Bank of Scotland bank account do you have?
Do you have Royal Bank of Scotland Digital Banking?
You'll need to have Digital Banking to apply for an overdraft online. If you don't, we'll help you sign up easily in just 5 minutes. Remember, you could use our mobile app to apply if you're already set up.

You're ready to go

Just a heads up - here's what you'll need:

  • Your Digital Banking login details
  • Your address details for the last 3 years

Let's get you set up

You'll need to sign up for Digital Banking with us in order to apply for an overdraft online. The good news is that it normally takes only 5 minutes. If you need a hand, follow our step-by-step guide below.

What you'll need

  • Your sort code and account number
  • Your Royal Bank of Scotland debit card, if you have one

Once you’ve registered, click ‘Next’ below to log in and apply for an overdraft.

You're ready to go

Just a heads up - here's what you'll need:

  • Your Digital Banking login details
  • Your address details for the last 3 years

Let's get you sorted

You’ll need your customer number, Digital Banking PIN and password to apply online. Choose from one of the options below and we'll help you on your way.

Once you have new details, click 'Next' below to continue.

You're ready to go

Just a heads up - here's what you'll need:

  • Your Online Banking login details
  • Your address details for the last 3 years
Have you lived in the UK for 3 years or more?

Great! Because you've lived in the UK for 3+ years, you could be eligible for a Student overdraft.

You can apply in branch and must provide proof of 3+ years residency e.g. tenancy agreements or previous utility bills. 

Book an appointment

Sorry, we're unable to offer you an overdraft at this time.

Our Student overdraft is only available to customers who have a Student bank account with us. Want to take a look?