A little breathing space if you're living on a tight budget
Student life isn't exactly easy, so this could help
Student Arranged Overdrafts are available to NatWest Student current account customers, aged 18 or over, who've lived in the UK 3+ years. Subject to lending criteria.
Useful info about a Student Arranged Overdraft
When you apply for a Student Overdraft, we’ll give you up to a £500, interest-free overdraft in your first term (subject to approval). After that, you can apply to increase your limit up to £2,000 interest-free (subject to approval).
This means that you don’t need to pay any interest or fees as long as you stay within your arranged overdraft limit.
What you should know
Our Student Overdraft is a form of debt and is repayable on demand. Always make sure you have enough money in your current account, or a suitable Student Overdraft limit in place before any payments are due to come out of your account.
When you graduate we’ll change your Student account to a Graduate account. This will happen in your graduation year and we’ll give you 60 days notice before we do this.
When your account changes to a Graduate account, the amount of your arranged overdraft that's interest-free reduces each year. This is to help encourage you to pay back any money you may have borrowed whilst studying.
In the first year after you graduate you can get up to a £2,000 interest-free arranged overdraft.
In the second year of your Graduate account, you can still have an overdraft of £2,000, but only the first £1,000 will be interest-free.
In the third year after you graduate you will automatically move onto a Select account and your arranged overdraft will no longer be interest-free.
Find out more about Graduate Overdraft