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Changes to this account due 6th April 2020

On the 6th April we will be making changes to our bank accounts. Changes include how we charge for arranged overdrafts and reducing fee free amounts on accounts that have them. For accounts that earn credit interest, we will change the way it is calculated. For a full explanation please read the guide to changes.

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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.

Current Account Switch GuaranteeSwitching to us is now faster and more convenient with the Current Account Switch Service. Find out more about the benefits of switching to us.

Why choose our Lloyds Bank Student Account?

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Being a student often means living on a tight budget.

With our Student Account, you can apply for a fee-free tiered arranged 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.

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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.

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

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 a fee-free tiered arranged 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 mobile 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 a fee-free tiered arranged overdraft offer for the first three years, helping you move into professional life.

Overdraft Information

  • Arranged overdraft - An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.
    • Setting up an arranged overdraft is free and you’ll only pay a daily arranged overdraft fee if you use more than your fee-free amount.
  • Applying for an arranged overdraft - When you have applied for this account, at the end of the application you can apply for an arranged overdraft which you can add right away. You can also apply for one later.
  • Amending an arranged overdraft - You can reduce or remove your arranged overdraft at any time through Mobile Banking, Internet Banking or Telephone Banking or by visiting your branch. But you must repay anything you owe if you want to remove an overdraft or anything over the new reduced limit you want. You can also apply to increase it. This application won't affect your credit score.
  • Helpful tools - You can use our cost calculator to calculate the cost of an arranged overdraft.

If you don't have enough money in your account to make a payment, we may either let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, please get in touch with us as we may be able to help you.

All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.

What can you use an overdraft for?

Many students use overdrafts for:

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

"The arranged 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 arranged overdraft gave me some more financial flexibility.

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

Our fee-free arranged Student Account Overdraft offer

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

Year & Month from account opening

Fee-free arranged 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 fee-free arranged overdraft amount.

Representative example:
In your second year, if you use an Arranged Overdraft of £1,200 on your Student Account, then we’ll charge you a daily arranged overdraft fee of 0p.

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

How do you get a student overdraft?

Apply for a student account, and we’ll tell you what arranged 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 fees.

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 a fee-free overdraft offer which gradually reduces each year, helping you transition into professional life. You can apply for a 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
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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 Mobile Alerts
  • Make quick, safe and secure Mobile Payments with Apple Pay and Google 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 a Lloyds Bank Visa debit card enabled for contactless payments if you are eligible.

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:

Everyday Offers from Co-op, Costa, Hilton, Sky, and more

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