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LLOYDS BANK CURRENT ACCOUNT

Student Current Account

With our Student Current Account, managing your finances is sorted.

Lloyds Bank Classic Card

Why choose our Student Current Account?

Arranged overdraft

Being a student often means living on a tight budget.

With our Student Account, you can apply for an interest-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.

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

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.

Co op, Costa, Hilton and Sky logos

Earn cashback with Everyday Offers

Get up to 15% cashback with Everyday Offers when using your VISA Debit Card at selected retailers. Merchant offers and cashback amounts vary. T&Cs apply.

Save the Change®

Round up your card payments to the nearest pound. The difference will be transferred to an eligible Lloyds Bank savings account.

Plus, all the tools you’ll need to manage your student current account

  • Mobile app - manage your money on the move with our highly rated mobile banking app
  • Freeze your card - Think you’ve lost your card? Using the app you can freeze and restrict how your debit card is used
  • Contactless - get a VISA contactless debit card
  • Mobile alerts - to help you stay in credit
  • Mobile payments - make quick, safe mobile payments with Apple Pay or Google Pay
  • Cash withdrawals - take out up to £500 per day from any cash machine in the UK

Who can apply for a student current 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 StudentsInternational students.

When can you apply for a student current 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 Guarantee

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

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

Arranged overdraft information

  • 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 daily arranged overdraft interest if you use more than your interest-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 arranged 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 or available arranged overdraft 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 interest-free arranged student overdraft

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

Our fee-free arranged Student Account Overdraft offer

Year

Interest-free arranged student overdraft

Year

Year 1 of study - first 6 months from accounts opening

Interest-free arranged student overdraft

£500

Year

Year 1 of study - months 7 – 9 from account opening

Interest-free arranged student overdraft

£1,000

Year

Year 1 of study - months 10 – 12 from account opening 

Years 2 and 3 of study

Interest-free arranged student overdraft

£1,500

Year

Years 4 - 6 of study

Interest-free arranged student overdraft

£2,000

Representative Example

A variable representative rate of 0% APR

A variable interest rate of 0% EAREAR is the Equivalent Annual Rate. This is the annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This interest rate does not include any other fees and charges.

Based on borrowing £1,200

This example assumes you are in the second year of your studies

How much does my overdraft cost in pounds and pence?

As an example, the interest cost of borrowing £500 is:

£0.00 for 7 days

£0.00 for 30 days

£0.00 for 60 days

How does our overdraft compare?

You can use the representative APR to compare with other products or credit providers, this can help you make sure that you choose the right type of borrowing for you.

Useful tools

You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time.

 

Cost Calculator

You can use our eligibility tool to find out if you are eligible for an arranged overdraft.

 

Eligibility Tool

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).

 

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

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

How to open a student current account

Applying for a new account

Once you have completed the online application, you’ll then need to pop into any Lloyds Bank branch with your ID documents.

You’ll need to bring the following documents into your local branch:

  • Your UCAS confirmation of place letter. Or a letter form your university or college confirming your place
  • Proof of identity, such as a driving licence or passport
  • Proof of address, such as a utility bill or bank statement.

Change your existing current account to a student current account

  • If you’re an existing current account customer, simply log on to Internet Banking. The link below will take you directly to the application
  • During the application we’ll ask you for your 4-digit UCAS code
  • Your sort code and account number will stay the same

Apply for a new student current account

Apply nowfor a student account

Change your existing current account to a student current account

Log on
  • Choosing the right account for you

    Once you’re living in the UK, you may be eligible for our Classic Account. This provides free everyday banking. Just stay in credit and you won’t have to pay monthly fees. Or see our full range of our Lloyds Bank current accounts.

    Information for International students applying for a Classic Account

    Free everyday banking

    Stay in credit and you won’t have to pay monthly fees. Bank your way with Internet Banking, Telephone Banking, Mobile Banking, in-branch, and also get free Text Alerts.

    Debit card

    You can use your Visa debit card to shop online and in over 500,000 locations in the UK and 27 million worldwide.

    Cash withdrawals

    You can withdraw up to £500 a day from a Lloyds Bank Cashpoint or other cash machines.

    No overdraft

    International Students who have lived in the UK for less than 3 years are not eligible for an overdraft.

    Ways to apply

    Applying for an account online can be a convenient way to open  an account but do bear in mind that you will be required to provide proof of identification and address at a Lloyds Bank branch to complete your application.

    Classic Account details

    What documents can I bring?

    After applying for a current account online, you will need to provide proof of your identity and address at your nearest branch within 14 days so we can continue with your application. All documents must be the most recent ones. We don’t accept expired documents or documents printed off the internet.

    We need to see one of the following documents.

    This document must show your full name. You can choose from the following:

    • current United Kingdom, European Union or European Economic Area photo driving licence
    • current UK / EU / EEA passport
    • EU / EEA identity card
    • all other current signed passports with a valid UK visa
    • benefits or pensions notification letter confirming the right to benefit
    • current UK non-photo driving licence
    • blue disabled driver’s pass.

    PLUS

    We need to see one of the following documents.

    This document must show your full name and current address. You can choose from the following:

    • bank, credit card or building society statement showing transactions
    • current UK driving licence (if it hasn’t been used as proof of your identity)
    • utility bill
    • local authority tax bill for current year
    • benefits of pensions notification letter confirming the right to benefit (if it hasn’t been used as proof of your identity)
    • original letter on headed paper issued by educational institution confirming place on a course (must confirm full name, UK and overseas address, start and end date of course)

    We reserve the right to ask for additional documents. If you don’t have the documents listed above, we may be able to accept others so please speak to a member of staff if you have any questions about this or any of our services.

  • 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, are resident in the UK, and are either an EU national or have permission to stay in the UK for at least 12 months.

    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.

  • 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.

    Representative Example

    A variable representative rate of 0% APR

    A variable interest rate of 0% EAREAR is the Equivalent Annual Rate. This is the annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This interest rate does not include any other fees and charges.

    Based on borrowing £1,200

    This example assumes you are in your second year after graduation

    How much does my overdraft cost in pounds and pence?

    As an example, the interest cost of borrowing £500 is:

    £0.00 for 7 days

    £0.00 for 30 days

    £0.00 for 60 days

    How does our overdraft compare?

    You can use the representative APR to compare with other products or credit providers, this can help you make sure that you choose the right type of borrowing for you.

    Useful tools

    You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time.

     

    Cost Calculator

    You can use our eligibility tool to find out if you are eligible for an arranged overdraft.

     

    Eligibility Tool

    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.

  • What document can I bring if I do not have a UCAS letter?

    • For nursing and midwifery, a NMAS letter is accepted
    • For specialist music course, a CUKAS letter is accepted
    • If you have lost your UCAS letter, log into the UCAS online portal to print out your UCAS letter.
    • If your course does not have a UCAS, NMAS or CUKAS letter, 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

    Can I change my current account to a Student Current Account?

    If you’re an existing customer with a current account, you can change it into a student current account. You can do this through Internet Banking by logging on using the link above. You’ll need to have your 4-digit UCAS code to hand. Changing your account rather than opening a new student account will be quicker as we won’t need to ask for information we already hold. Once you have changed your account, your sort code and account number will stay the same and you’ll also keep your debit card.

    Can I have a Student Current Account for a Masters Degree or PhD?

    • 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.

    I am already a student, can I apply for a Student Current Account?

    Yes, as long as you meet the standard criteria: 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 rewards do I get with a Student Current Account?

    Take advantage of up to 15% Cashback with Everyday Offers

    Get up to 15% cashback at the type of places you regularly shop when you bank online and use your debit or credit card. Including: Merchant offers and cashback amounts vary. Registration for Everyday Offers is required. Activate offer for use on your next purchase. Available to Lloyds Bank UK personal current account customers (excluding basic account) with a debit and/or credit card aged 18+. Terms & conditions apply. More about Everyday Offers.

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

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.

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.

Overdrafts are repayable in full on demand. View Arranged Overdraft borrowing fees.

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.

PhoneBank® is a registered trademark of Lloyds Bank plc.

Cashpoint® is a registered trademark of Lloyds Bank plc.

Save the Change® is a registered trademark of Lloyds Bank plc.

Money Manager is provided to help you manage your personal finances and is not intended to provide legal, tax or financial advice. Personal Internet Banking customers only. Terms and conditions apply. Mobile Banking services may be affected by phone signal and functionality. Must be registered for Internet Banking. Terms and conditions apply.

You need to register for Internet Banking, PhoneBank® and Mobile Banking. Terms and conditions apply.

We don't charge you to use Mobile Banking, but your mobile operator may charge for some services, so please check this with them.