Student Current Account

Get your student finances sorted with our free everyday banking account

Bank card image

Student Current Account

Get your student finances sorted with our free everyday banking account

Bank card image

Apply here

If you are an international student, you might want to take a look at our other accounts.

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.

There is no fee to set up an arranged overdraft and you’ll only pay daily arranged overdraft interest if you use more than your interest-free amount. If you use your arranged overdraft over your interest free amount but pay it back before the end of the day, then you won’t pay any arranged overdraft interest for that day.

Applying – You can do this at the end of the Student Current Account application or any time after your application.
Amending – You can reduce or remove your arranged overdraft whenever you like through the app, Internet Banking, over the phone or in 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. Using an arranged overdraft increases your overall borrowing and may affect your credit score.
Cost calculator – use this to calculate how much it will cost you to use an arranaged overdraft.
Keep in mind – 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 the payment. Missing payments and using an unarranged overdraft may damage your credit score, so please get in touch if you find yourself in these circumstances.

All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.

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.

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.

Find out more detailed information on overdrafts such as interest rates, charges and managing your arranged overdraft limit.

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.

Apply for an arranged overdraft

Student Account Arranged Overdraft expandable section

Sometimes we need to plan for the unexpected and having an arranged overdraft limit set up can provide you with the flexibility of extra money to help tide you over.

The Student Account comes with an interest-free arranged overdraft of up to £1,500 in years 1-3 and up to £2,000 in years 4-6.

When you graduate, we’ll still be here to help, converting your student account to a graduate account which also provides an interest-free offering.

The amount of your arranged overdraft that is interest-free will depend on your year of study.

For Student Account

student account overdraft
Year	Interest-free arranged overdraft amount
Year Year 1 of study - first 6 months from accounts opening	Interest-free arranged overdraft amount £500
Year Year 1 of study - months 7 – 9 from account opening	Interest-free arranged overdraft amount £1,000
Year Year 1 of study - months 10 – 12 from account opening	Interest-free arranged overdraft amount £1,500
Year Years 2 and 3 of study	Interest-free arranged overdraft amount £1,500
Year Years 4 - 6	Interest-free arranged overdraft amount £2,000

How to apply for a Student Current Account

You need to be aged 17 or over, on a degree course or equivalent full-time education and have been a permanent UK resident for the past 3 years.

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How to apply for a Student Current Account

You need to be aged 17 or over, on a degree course or equivalent full-time education and have been a permanent UK resident for the past 3 years.

Graduation expandable section

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 (subject to application and approval). Up to £2,000 in your first year after graduation, £1,500 in your second year and £1,000 in your third year.
Protecting yourself from fraud expandable section
Find out how fraud can harm you and what you can do to stop it:

Banking safely and keeping your details safe

Avoid unknowingly becoming involved in criminal activity as a money mule

Key account information

Bank of Scotland Bank Account conditions (PDF, 173KB)

Bank Account welcome pack (PDF,567KB)

Fees and charges

We may monitor and record calls.

Bank of Scotland plc, Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.

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