Student Current Account
Make the most of student life, your way.
Manage your money easily from budgeting to everyday spending, we've got you covered to help you stay on top.
Check if you can apply
Are you an international student?
If you have not been a resident in the UK for at least three years, you will not be able to apply for a Student Current Account.
Instead, you might want to take a look at our other accounts.
Here's what you get right away
What is a student arranged overdraft?
Sometimes you need a little financial support to help tide you over for a short period of time. That’s where an arranged overdraft comes in. It allows you to borrow some money, like a safety net.
Like all overdrafts, you’ll have to pay it back at some point, but we’ll keep you in the loop by letting you know if you ever go over your limit via overdraft alerts.
Take a look at how the interest-free amount changes over the years. You can only apply for an arranged overdraft if you are 18 years or more.
If you are given an arranged overdraft limit higher than the interest free amount, you will be charged interest on any borrowing over and above the interest free amount.
All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
-
How do you get a student arranged 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 interest.
How do I increase my arranged overdraft?
You can apply to increase it online in a couple of minutes, and we will give you an instant online decision.
-
Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances.
You won’t pay anything when you stay within your interest-free arranged overdraft amount.
For more information about overdrafts, see Student Account welcome pack (PDF, 844 KB).
If you already have a current account with us, you can apply for an arranged overdraft through Internet Banking or Mobile Banking. You can also apply to increase your existing arranged overdraft limit too.
Start building your financial future
MyPocketSkill
We’ve teamed up with MyPocketSkill – a platform that enables you to work flexibly around your study or work commitments.
Invest Wise
Give your future a head start. If you’re aged 18 to 25, invest little by little with no admin fees and free regular investing through our regular investment plan and feel good about investing in your future.
Get started today with Invest Wise. Open an account
Investments can go down as well as up, so you may get back less than you put in.
Looking ahead
What happens to my account when I graduate?
Your current account will graduate along with you.
Your Student Account will automatically convert to Graduate Account when you complete your university course.
Awarded Moneyfacts Five-Star rating
Recognised for ease of opening across our Personal Current Accounts.
Get your bank account
Account opening is subject to status, UK resident
Let’s look at the details
-
You can only have one student bank account at a time. But you could apply for other types of bank account if you wanted to.
-
You don’t need to have a student bank account – for example, you can choose another account you’d like any student loan payments to be made to. But, if you’re in higher education, a student bank account can offer features and benefits you might like, helping you to make the most of student life.
-
A UCAS code is required to open a Student Account. If you don't have one, you can still apply for one of our other current accounts.
-
- If you have a Lloyds Student Account already, and continue straight onto a Masters Degree or PhD, you can extend your existing Student Account and hold it for a maximum of 6 years whilst you study.
- If you don’t have a Lloyds Student Account, and are starting a Masters Degree, then you can open a new Student Account if you are 17 or over, have been a resident in the UK for at least three years and are studying for a full-time course that lasts for a minimum of two years or be on a one year access course leading onto a full-time degree.
-
What is a debit transaction?
A debit transaction is when money comes out of your account to pay for something - like buying lunch with your debit card or paying a bill directly from your account.
What is a credit transaction?
A credit transaction is when money comes into your account. For example, getting paid or someone transferring money to you.
What is a pending transaction?
A pending transaction is a payment that's been made but hasn't fully gone through yet. You'll see it in your account under "pending transactions" until the final amount is confirmed and it fully comes out of your balance.
What does contactless mean?
Contactless is a quick way to pay using your card or phone by tapping it on the card reader instead of entering your PIN.
What is a sort code?
A sort code is a 6-digit number that identifies your bank and branch - it's used alongside your account number to send or receive money.
What is a faster payment?
A faster payment is a bank transfer that usually arrives in the other person's account within minutes, 24/7.
What is a BACS payment?
BACS is a type of bank transfer that usually takes up to 3 working days. It's often used for wages, benefits, or paying bills.
What is a direct debit?
A direct debit is when you give a company permission to take money from your account automatically. For example, to pay your phone bill each month.
What is a standing order?
A standing order is when you set up a regular payment to someone else, like paying your rent on the same date each month.
-
-
When you are no longer eligible for the Student Account, for example you graduate from your course, we will convert your account to a Graduate Account, unless you make alternative arrangements with us.
If you are not eligible for a Graduate Account (for example you leave full-time study before graduating) we will convert your account to a Classic Account (or similar account if it is no longer available).
The Graduate Account has an interest-free arranged overdraft offer that gradually reduces each year, helping you transition into professional life.
Arranged overdraft
You can apply for a tiered interest-free arranged overdraft of up to:
- £2,000 in your first year after graduating,
- £1,500 in your second year, and
- £1,000 in your third year.
Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances.
Explore your options
We want to make sure you know about other options that might suit your needs.
You may also like
Current account support
Learn how to get the most out of your Lloyds current account with our support pages.
Switch to us
Switching your current account to Lloyds is simple, reliable and stress-free with the Current Account Switch Service.
The Student Current Account is only available to full-time students who are permanently resident in the UK. Applicants must be at least 17 years old and must be studying for a full-time course that lasts for a minimum of two years or be on a one-year access course leading on to a full-time degree.
Account opening is subject to our assessment of your circumstances.
Overdrafts are repayable in full on demand.