You could apply

for a student overdraft

up to £2,000

Sometimes it’s just the general cost of student living, sometimes it’s an unexpected bill or expense. Whatever the reason, an Arranged Student Overdraft is a convenient type of short-term borrowing that can provide a short-term safety net on your current account.

Things to remember

An Arranged 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 Arranged Overdraft limit in place before any payments are due to come out of your account.

If you're in an Unarranged Overdraft and you try to withdraw more funds, you'll be charged an Unpaid Transaction fee of £2.75. (The maximum we’ll charge you in a monthly charging period is £2.75.)

When you apply for a Student Overdraft, we’ll give you up to a £500, interest-free overdraft in your first term. After that, you can apply to increase your limit up to £2,000 interest-free (subject to approval).

This means that you don’t need to pay any interest or fees as long as you stay within your arranged overdraft limit.

Things to remember

Our Student 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 Student Overdraft limit in place before any payments are due to come out of your account.

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.

If you're successful in getting a Student Overdraft, it's handy to know that you can apply to increase, reduce or remove it online, in the app, over the phone or in branch.

• You can apply to increase your Student Overdraft up to £2,000 (subject to approval) after the first term of your first year of study. Your application to increase will be subject to a credit assessment
• If you want to reduce your limit if your current overdraft balance is within your new requested limit. The minimum overdraft limit you can have is £250
• If you want to remove your overdraft completely, your account must be in credit

When you graduate we’ll change your Student account to a Graduate account. This will happen in your graduation year and we’ll give you 60 days notice before we do this.

When your account changes to a Graduate account, the amount of your arranged overdraft that's interest-free reduces each year. This is to help encourage you to pay back any money you may have borrowed whilst studying. 

In the first year after you graduate you can get up to a £2,000 interest-free arranged overdraft.

In the second year of your Graduate account, you can still have an overdraft of £2,000, but only the first £1,000 will be interest-free.

In the third year after you graduate you will automatically move onto a Select account and your arranged overdraft will no longer be interest-free.

Find out more about Graduate Overdraft