Go paper-free
Amend paper-free preferences for your statements and correspondence.
If you are an international student, you might want to take a look at our other accounts.
Why choose our Student Current Account?
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.
Student event discounts
You’ll get access to at least 20% off a variety of student events at selected Unis for the whole of the 2024/25 academic year with a Lloyds Bank Student Account. From freshers week up until end of year balls, you can get up to four tickets per event at participating promoters.
See details and list of participating student unions.
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.
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.
From 01 August 2025 we’re changing some interest-free arranged overdraft amounts on Year 1 of study on our Lloyds Student Account. This means you won’t pay daily interest on what you borrow up to the first £1500 from the day you take out your overdraft. For full details please see Guide to Changes (PDF, 45KB).
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.
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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.
Let’s look at the details
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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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Your current account will graduate along with you
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.
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What is the credit interest rate on this account?
On 02 June 2025, we will no longer be paying credit interest on Student Current Accounts, for details please see Guide to Changes (PDF, 87KB).
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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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
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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- Personal banking terms, conditions and charges guide (PDF, 315 KB)
- Bank account welcome pack (PDF, 506 KB)
- Student Account welcome pack (PDF, 844 KB)
- Student account overdraft fees
- Current account rates
- On 02 June 2025, we will no longer be paying credit interest on Student Current Accounts, for details please see Guide to Changes (PDF, 87KB).
- On 01 August 2025, we are changing some interest-free arranged overdraft amounts on our Lloyds Student Account, for full details please see Guide to Changes (PDF, 45KB).
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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.
Open a Student Current Account today
Invest Wise
Introducing Invest Wise, our free investment account for 18-25 year olds - the ideal companion for students aspiring to smash their financial goals. Enjoy an account with no admin charges and take advantage of free regular investing, so even more of your money can go into your investments!
Please remember that the value of investments and the income from them can fall as well as rise, and you may get back less than you invest.
Explore your options
We want to make sure you know about our other current account options. Here’s one that might suit you.
You may also like
Smart Start
A banking and savings account for 11-15 year olds with no monthly fees or charges.
Under 19s Account
For 11 to 17 year olds who want to start managing their money.
Child Saver
For adults who want to save for a child aged 15 and under.
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.