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Why choose our Student Current Account?
- From 1st of August, you can now earn interest on balances - see below for details
Arranged overdraft
If you’re 18 or over, you can apply for an arranged overdraft of up to £1,500 in years 1 – 3 and then up to £2,000 in years 4 – 6.
Earn interest
Credit interest of 2.00% AER (1.98% gross) variable on balances between £1 and £5,000.
Earn cashback at some of your favourite places
With our Everyday Offers, you can get up to 15% cashback on things like shopping, gadgets, clothes and much more.
Free everyday banking when you stay in credit
Manage everything easily in our Mobile Banking app. No monthly fee to maintain the account.
Save the Change®
Turn on this feature and we’ll automatically round up your card payments to the nearest pound and transfer the difference to a nominated savings account.
There's more...
- View your PIN and card details in the app – shopping online and left your card in the other room? Reveal your details with just a few taps.
- Manage your subscriptions – view, cancel and block regular subscriptions whenever you like.
- Text alerts – stay on top of your finances by receiving a notification every time you spend.
- Freeze your card – think you’ve lost it? Freeze it in the app to stop it being used.
Who can apply?
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 have been a resident in the UK for at least three years
- You have a university place confirmed
- You're already a student, you can still apply for a student account
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.
More on the arranged overdraft
Our interest-free arranged student overdraft
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. Please see the Fee Information Document (pdf, 173.0 KB) for further details of our interest rates.
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, 4.5MB).
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.
Applying for a Student Current Account
Applying for a new account
You can do this online or in any Lloyds Bank branch with your ID documents. You’ll need:
- Your 4-digit UCAS code confirming your place for your course. You can find this when you log in to the UCAS portal
- Proof of identity, such as a driving licence or passport
- Proof of address, such as a utility bill or bank statement (for branch only)
Change your current bank account to a Student Current Account
- Log on via Internet Banking by selecting the button at the bottom of this page
- During the application, you’ll be asked for your 4-digit UCAS code
- Your sort code and account number will stay the same
Student Current Account FAQs
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If you have opened a Lloyds Bank Student Current Account between 1st August and 8th October 2023; and successfully deposit at least £500 into your Student Account by 31st October 2023; you qualify for £100 cash offer.
Customers who open a Lloyds Bank Student Current Account from 1st August to 20th September 2023
To qualify for the £100 cash offer, the following conditions apply:
- Open a Student Current Account between 1st August and 20th September; and
- successfully deposit at least £500 into your Student Current Account by 31st October 2023.
You are not eligible for this offer if:
- You already have a Student Current Account with Lloyds Bank;
- You do not deposit at least £500 into your Student Current Account by 31st October 2023.
This offer applies to applications received in branch or online from 1st August to 20th September 2023.
The offer is subject to change and can be withdrawn without notice at any time. Only one cash offer is available per customer. The £100 cash offer will be paid directly into your Student Current Account in one payment by 30th November 2023 and will appear as a cash credit.
Customers who open a Lloyds Bank Student Current Account from 21st September to 8th October 2023
To qualify for the £100 cash offer, the following conditions apply:
- open a Student Current Account between 21st September and 8th October 2023; and
- successfully deposit at least £500 into your Student Current Account by 31st October 2023.
You are not eligible for this offer if:
- you have held a Student Current Account or Graduate Current Account with Lloyds Bank, Bank of Scotland or Halifax since 1st August 2020;
- you do not deposit at least £500 into your account by 31st October 2023.
This offer applies to applications received in branch or online from 21st September to 8th October 2023.
Only one cash offer is available per customer. The £100 cash offer will be paid directly into your Student Current Account in one payment by 30th November 2023 and will appear as a cash credit. Your Student Current Account must remain open to receive the cash offer.
The offer is subject to change and can be withdrawn without notice at any time.
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- For nursing and midwifery, a NMAS letter is accepted
- If you haven’t applied through UCAS, then an original university offer letter on university headed paper may be accepted. It needs to include:
- Student’s name and address
- Course name
- Course type and length
- Year of graduation
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- 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.
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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-free arranged overdraft offer that gradually reduces each year, helping you transition into professional life. You can apply for an interest-free arranged 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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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.
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You can apply to increase it online in a couple of minutes, and we will give you an instant online decision.
Key information on the Student Current Account
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What is the credit interest rate on this account?
Interest rates
Your balance
AER %Annual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily.
Gross %CloseGross rateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
Your balance
£1-£5,000
AER %Annual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily.
2.00
Gross %CloseGross rateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
1.98
Your balance
£5,000.01 and above
AER %Annual Equivalent RateThe Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded each year. The AER allows you to compare different offers easily.
0.00
Gross %CloseGross rateGross rate means that we will not deduct tax automatically from your interest. You are responsible for paying any tax due to HM Revenue and Customs.
0.00
You could earn 2.00% AER (1.98% gross p.a.) variable credit interest on balances between £1 and £5,000. You won’t earn interest on any part of your balance over £5,000.
For example, when you have £5,500 in your account, you could earn interest of 2.00% AER (1.98% gross p.a.) variable on £5,000 and 0.00% AER (0% gross p.a.) variable on the rest £500.
Can I earn credit interest on balances over £5,000?
No, credit interest is not payable on the amount of any balance over £5,000.
When is the credit interest paid?
The credit interest earned will be paid into your Student Current Account on a monthly basis.
If you do not earn the credit interest, you won't receive payment the following calendar month.
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Find out how fraud can harm you and what you can do to stop it:
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![Current Account Switch Guarantee]()
Switching with us
We can move your current account to a Lloyds Bank Student Account in just seven working days. Your standing orders and Direct Debits will be automatically transferred to your new account. All you have to do is let us know the date you want to be switched and provide details of the account you want to switch from.
Current accounts and services are offered subject to your status. They are available only to personal customers who are aged over 18 and are resident in the UK.
Current Account Switch Guarantee
![Current Account Switch Guarantee]()
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
The service is free to use and you can choose and agree your switch date with us.
We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
If you have money in your old account, we will transfer it to your new account on your switch date.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
If there are any issues in making the switch, we will contact you before your switch date.
If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
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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).
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.
Lloyds Banking Academy
Our Banking Academy has got you covered when it comes to keeping your money safe, avoiding scams and getting ready for the future.
- Moving out of home for the first time. Learn more about taking that step to independence.
- Preparing for the unknown. Start planning now, so you're ready for the future.
- Staying safe from fraud. Be in the know and beat the scammers.
- Protect your bank account. Learn how to stop money mules.
- Build your children's financial skills. Use our tools to help your kids understand the decisions we make around money.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Lloyds Bank adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.
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.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.
Account opening is subject to our assessment of your circumstances.
Overdrafts are repayable in full on demand.