Student bank accounts
Manage your money with a bank you can trust and make the most of student life.
Why open a Lloyds Student Current Account?
- No monthly account fee.
- Option to apply for up to £1,500 interest-free arranged overdraft in years 1 to 3, and up to £2,000 in years 4 to 6.
- Get cashback on everyday spending with selected retailers.
- Join 10 million customers using our highly rated app, with 24/7 secure in‑app support when you need it.
We’re rated 5 stars by Moneyfacts for ease of opening a current account.
What is a student bank account?
A student bank account is designed for anyone in higher education at college or university in the UK. Benefits usually include the option to apply for an interest-free arranged overdraft, tools to help students manage their cash and other perks to improve student life.
How to open a student bank account
Who can apply?
To apply for a Lloyds Student Current Account, you need to:
- be aged 17 or over,
- have been a UK resident for at least 3 years,
- be studying full-time on either a course lasting at least 2 years, or a 1-year access course leading to a degree,
- have a 4-digit UCAS code confirming your place for your course.
If you’ve already got a student bank account, it’s easy to transfer to Lloyds using the Current Account Switch Service.
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 with 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.
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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.
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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 online banking or in the mobile banking app. You can also apply to increase your existing arranged overdraft limit too.
Awarded Moneyfacts Five-Star rating
Recognised for ease of opening across our personal current accounts.
Get a student bank account
Account opening is subject to status, UK residents only.
Let’s look at the details
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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.
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For accounts provided by Lloyds Bank plc. Your sort code will start with ‘30’ or ‘77’.
Personal banking terms, conditions and charges guide (PDF, 315KB)
Bank account welcome pack (PDF, 506KB)
Student account overdraft fees
Lloyds Bank Student Account Campaign 2025 Terms and Conditions (PDF, 79KB)
For accounts provided by Bank of Scotland plc. Your sort code will start with '11'.
Personal banking terms, conditions and charges guide (PDF, 315KB)
Bank account welcome pack (PDF, 506KB)
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When you finish studying and you graduate from your course, we'll convert your account to a Graduate Account, unless you make other arrangements with us.
If you leave full-time study before graduating, we will convert your account to a Classic Account or similar account.
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.
More handy app features
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Student account FAQs
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You can only have 1 student bank account at a time. But you could apply for other types of bank account if you wanted to.
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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.
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A UCAS code is required to open a Student Current Account. If you don't have one, you can still apply for one of our other current accounts.
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- If you have a Lloyds Student Current Account already, and continue straight onto a Masters Degree or PhD, you can extend your existing Student Account and have it for a maximum of 6 years while you study.
- If you don’t have a Lloyds Student Current 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 3 years and are studying for a full-time course that lasts for a minimum of 2 years or be on a 1 year access course leading onto a full-time degree.
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To open a Lloyds Student Current Account, you’ll need to give us:
- proof of identity – you could use a birth certificate, passport or driver’s licence
- proof of address – such as a driver’s licence, utility bill or bank statement. A letter from a GP, hospital or school could also be used as proof of address
- a 4-digit UCAS code confirming your place on your course. If you’re not sure where to find this, contact UCAS for support.
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You can apply for a Lloyds Student Current Account when:
- you’re aged 17 or over
- you have a 4-digit UCAS code confirming your place on your course.
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Get started today with Invest Wise. Open an account
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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.
Explore your options
We want to make sure you know about other options that might suit your needs.
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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.
