Who can apply for a student account?

You can apply if:

  • you're aged 17 or over
  • You’re studying full-time on a course of at least two years’ duration, or a one-year full-time access course leading to a degree
  • You've been a resident in the UK for at least three years

If you have not been a resident in the UK for at least three years, you may want to check out our Classic Account. Find out more about International Students.

When can you apply for a student account?

  • As soon as you have a place confirmed, you can apply.
  • If you’re already a student, you can still apply for a student account.

Why choose our Lloyds Bank Student Account?



Being a student often means living on a tight budget.

With our Student Account, you can apply for an interest and fee free tiered planned overdraft of up to £1,500 in Years 1 to 3 and up to £2,000 in years 4 to 6. You’ll need to be 18 years old to apply for an overdraft.


Free everyday banking

Stay in credit and you won’t have to pay monthly fees.

Convenient payments with a contactless debit card (if you’re aged 18 or over), Apple Pay and Android Pay.


Free NUS extra Card

Open your account between 1st August 2017 and 31st October 2017 and enjoy an NUS extra Card absolutely free for up to three years.

Packed with hundreds of offers including up to 40% off at Pizza Express, up to 10% off at Apple and 25% off student prices at Odeon

All overdrafts are subject to our assessment of your circumstances are are repayable on demand.

NUS Offers correct as at 16 May 2017. See NUS extra for latest offers.

About our Student Overdraft

What is a Student Overdraft?

When you’re at university or college, sometimes you need the flexibility of extra money to help tide you over. Student overdrafts can be a short term safety net when you need to borrow some money. With our student account, you can apply for an interest and fee free tiered planned overdraft of up to £1,500 in Years 1 – 3 and up to £2,000 in years 4 to 6.

Like all forms of overdrafts you’ll need to pay it back at some point, but don’t worry we’ll help you keep on top of your spending with text alerts to tell you when you’re close to or over your limit. Plus when you graduate, we’ll still be by your side, converting your student account to a graduate account. With our graduate account you can apply for an interest and fee free tiered planned overdraft offer for the first three years, helping you move into professional life.

What can you use an overdraft for?

Many students use overdrafts for:

  • Deposit and rent for accommodation
  • Course materials
  • Travel
  • Food
  • Unexpected costs

"The planned overdraft was especially useful for me when changing tenancies between years. Agencies and landlords would ask for a new deposit before my old deposit had been released, leaving me out of pocket for a bit. My planned overdraft gave me some more financial flexibility.

Daniel, a recent graduate from a Lloyds Bank Student Account.

Our Interest and Fee-Free planned Student Account Overdraft offer

If you are 18 years old or more, you can apply for a planned student overdraft where:

Year & Month from account opening

Interest and fee-free planned student overdraft

Year 1 Months 1 – 6


Year 1 Months 7 – 9


Year 1 Month 10 – Year 3


Year 4 - 6


You won’t pay anything when you stay within your interest and fee-free planned overdraft amount.

Representative example:
If you use a Planned Overdraft of £1,800 in your second year the overdraft interest rate we will charge on the first £1,500 will be 0% EARCloseEquivalent Annual Rate The Equivalent Annual Rate (EAR) is used for overdrafts. It shows the effect of interest accruing on interest, in a situation where no repayments to the borrowing are made in a year. This allows you to compare rates across different organisations. The calculation does not include fees or other charges which are quoted separately. variable and a monthly overdraft usage fee will not apply. The overdraft interest rate on the next £300 will be 8.21% EAR variable and a monthly overdraft usage fee of £6 will apply.

For more information about Overdrafts, see Student Account welcome pack (PDF, 1.7 MB)

Changes to Overdraft charges from 2 November 2017

Please note: From 2 November 2017 we’re making changes to how our bank account overdrafts work and how we charge our overdrafts fees. Below is an overview of how your overdraft is changing:

One Daily Overdraft Fee
You’ll pay a daily overdraft fee of 1p for every £7 you borrow, over your fee-free amount (if your account has one). When calculating the daily overdraft fee, we will only use every full £7 you have borrowed, so if you borrow less than £7 you won’t be charged. The Classic Account planned overdraft will no longer have a fee-free amount. All other accounts will keep their existing fee-free amounts.

Daily Charging
Instead of paying all fees in one go each month, the new fee will be charged at the end of each day you use your overdraft – so you’ll pay for what you borrow on the day you borrow it. This will help you keep track of how much your overdraft costs you.

If you go over your limit
So all your payments are made, it’s important you manage your account within your planned overdraft limit. If you don’t have enough money in your account or you reach your limit, you may not be able to make any more payments. If a payment takes you over your limit or we stop it, you won’t be charged.

How do you get a student overdraft?

Apply for a student account, and we’ll tell you what planned overdraft we can give you during your application. 

All overdrafts are subject to our assessment of your circumstances and are repayable on demand, including any interest or charges.

How do I increase my overdraft?

You can apply to extend it online in a couple of minutes, and we will give you an instant online decision.

When you graduate, we’ll still be by your side.

Your Student Account will automatically convert to Graduate Account when you complete your university course.

The graduate account has an interest and fee-free overdraft offer which gradually reduces each year, helping you transition into professional life. You can apply for an interest and fee-free overdraft up to:

  • £2,000 in your first year after graduating
  • £1,500 in your second year
  • £1,000 in your third year

Features that come with your Lloyds Bank Current Account

  • With Internet Banking, make the most of your account 24/7. It’s the quick, easy way to keep track of your money, make payments and transfers and see your statements
  • Manage your money wherever it suits you with our  Mobile Banking App for iOS and Android.
  • Keep an eye on your balances and manage your accounts where you are with Text Alerts
  • Make quick, safe and secure Mobile Payments with Apple Pay and Android Pay
  • Use a network of over 1100 branches across England and Wales.
  • Take out money from any Cashpoint® in the UK, or cash machines around the world. It’s free to take out money from Lloyds bank and other major UK banks in the UK.
  • Convenient payments with contactless. You’ll get a Lloyds Bank Visa debit card and if you’re 18 or over, the debit card will be enabled for contactless payments

Free NUS extra Card

Open your account between 1st August 2017 and  31st October 2017 and benefit from an NUS extra Card for up to three years.

Hundreds of offers, including 20% off at National Express, up to 40% off at PizzaExpress, up to 10% off at Apple, 10% discount at The Co-op, and 25% off student ticket prices at ODEON.

Once you’ve opened your Student Account, NUS will send you an email and SMS with a unique promotional code and details on how to get the NUS extra Card for free.


Offers correct as at 16 May 2017. See NUS extra for latest offers.

How do I get my free NUS extra card?

All you need to do is apply and open your Student Account by 31 October 2017. NUS will then send you a unique promotional code, which you’ll need to order your firstfree card. Your promotional code will be valid until 31 December 2017 and the sooner you order your free NUS extra card the sooner you’ll be able to start saving.

How and when will I get my unique promotional code?

Your unique promotional code will be sent by email and SMS from NUS, so please ensure we have your up to date details. Codes will be sent out within 15 working days of opening your account. If you’re eligible for the offer and don’t receive your code after 28 days, please visit a branch and speak to a member of staff.

How long will it take me to receive my NUS extra card?

Once you’ve applied, NUS will send you your free card within 7–10 working days. You will be able to access your NUS extra card details immediately in the ‘Track My Card’ section under ‘My Account’ on nus.org.uk, so that you can start using the online discounts straight away. Your 2017/2018 NUS extra card will be valid until 30 September 2018, regardless of when you apply for your card. You must order your free NUS extra card by 31 December 2017.

Where can I use my NUS extra card?

Access to over 200 UK discounts on the high street and online PLUS 42,000 discounts worldwide with a free ISIC.

Partners include big names such as Amazon, where you will receive £5 credit when you sign up to Amazon Student, 25% off student ticket prices at Odeon, 10% off at The Co-op, plus discounts from Apple, 16-25 Railcard, National Express, Superdrug, New Look, Jack Wills, Spotify, PizzaExpress, ASOS, CrossCountry Trains, Missguided, Domino’s and Thorpe Park plus many more. Have a look at the fantastic range of discounts that you could enjoy at www.nus.org.uk. To see where you can save money when you are on the go you can download the NUS extra App.

Important information: To be eligible for the free NUS extra card you must open your Lloyds Bank Student Account by 31 October 2017 and apply for your free NUS extra card by 31 December 2017. NUS extra discount partners are updated regularly.

Some extras to help you

Everyday offers

Up to 15% cashback with Everyday Offers

Here are some of the retailers you may get offers from:

It's always nice to feel appreciated. Get up to 15% cashback using offers at the type of places you regularly shop. You need to be 18+. Merchant offers and cashback amounts vary. Terms and conditions apply. To register and see any offers waiting for you, log on to Internet Banking and select "Everyday Offers" in the "Your account tools" section of "Your accounts".

  • Click on the offers you want to activate for use on your next purchase.
  • Shop with either your Lloyds Bank debit card, credit card (if you're the main cardholder) or set up a Direct Debit, in line with the offer conditions.
  • Enjoy the money you have earned, which is paid into your account at the end of the following month for card transactions, or the month after your second Direct Debit payment has been collected.

Frequently asked questions

It's on us

It's On Us – join the thousands of customers we're already paying back

With It's On Us, we're offering you the chance of an unexpected thank you.

That's because every month, we are paying back thousands of our customers for something they've bought up to the value of £500 on their Lloyds Bank debit or credit card. So far, we've paid back our customers for games consoles, yoga classes, flights and much more. To activate It's On Us:

  • Log on to Internet Banking and register for Everyday Offers.
  • Select "It's On Us" in your Everyday Offers hub when it appears.
  • Click to activate for a chance to enjoy one of your purchases on us, terms and conditions apply.

To be eligible for Everyday Offers you will need to be over 18, have a Lloyds Bank personal current account, a Lloyds Bank debit and/or credit card and be registered for Internet Banking. To enter the It’s On Us free draw, you will need to be a UK resident (excluding NI) registered for Everyday Offers for up to one week and to have activated the It’s On Us offer.

It's On Us terms and conditions