Find out more about the perks of the Lloyds Bank Student Current Account, including its interest-free overdraft and the cashback programme with Lloyds’ retail partners.
Types of current account for students
Lloyds Bank has 1 current account available for students – the Lloyds Bank Student Current Account.
Below, you’ll discover the key perks and benefits of this account.
Product Name
Lloyds Bank Student Account
Card type
Cash / Debit
Debit network
Visa
Minimum opening balance
£1
Account fees
£0
Interest (AER)
2% AER
Funding requirement
No minimum funding requirement
Daily cash machine limit
£800
At end of term
Account transferred automatically to graduate account
Maximum overdraft in year 1
£1,500
Maximum overdraft in year 2
£1,500
Maximum overdraft in year 3
£1,500
Maximum overdraft in year 4
£2,000
Maximum overdraft in year 5
£2,000
Overseas card transactions
2.99% plus flat fee of £0.50
Overseas cash withdrawals
2.99% conversion fee plus cash fee of £1.50
Eligibility
To be eligible for a Lloyds Bank Student Current Account, you’ll need to:
be aged 17 or over (although to apply for an arranged overdraft, you’ll need to be aged 18 or over);
have been living in the UK for at least 3 years;
be studying full-time*.
*You’ll need to be studying full-time on a course for at least 2 years, or on a 1-year course leading to a degree.
You can apply as soon as you receive an unconditional offer for your course.
How to open an account
You can apply to open an account online or in-branch. You’ll need the following documents:
proof of identity, such as a passport or driving licence;
proof of address, such as a utility bill or bank statement;
your 4-digit UCAS code confirming your place on your course.
The benefits
Interest-free overdraft. If your application is successful, you can apply for an overdraft with the Lloyds Bank Student Account.
Your interest-free overdraft remains after you graduate. You can keep your interest-free overdraft for 3 years after you graduate.
Earn cashback with Lloyds’ retail partners. You’ll automatically cashback when you use your debit card to shop with one of Lloyds’ retail partners on its “Everyday Offers” programme.
Pros and cons
Pros
Interest-free overdraft.
Cashback with Lloyds’ retail partners.
Cons
This account isn’t available to international students.
There are other student accounts with larger overdrafts.
Customer service information for Lloyds
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Frequently asked questions
Our verdict
If you’re a keen shopper, the Lloyds Bank Student Current Account is likely to catch your eye, as you’ll get access to cashback with Lloyds’ various retail partners. The interest-free overdraft might not be quite as large as some other student accounts, but would still be very useful, especially given the staggered timescale in which to repay it after your studies end.
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