Your account number, sort code and debit card will stay the same. Information correct as at 31 October 2023. Your arranged overdraft is interest-free with a FlexStudent or FlexGraduate account. Save money in a tax efficient way. 49 per cent, the first year after they graduate their interest-free buffer will shrink from £2,000 to £1,000. NatWest will notify you about this ahead of time and it doesn’t require any action on your part, so it’s an easy transition. Mobile app required and available with compatible iOS and Android. The new student account offers an interest free overdraft*, as well as a. The Natwest student bank account comes with a £500 interest-free overdraft in your first year rising to £2,000 in years two and three. The TSB student account offers an overdraft facility, and there’s no interest to pay if you keep below the limit you’ve agreed with the bank. Cash ISAs. Graduate student and student overdraft. 2 for 1 or 50% off food at participating restaurants plus. earn at least £10k per year, be a UK resident, a NatWest current account holder and must not already have NatWest Buy Now Pay Later. What I liked about the student account was that it had an interest free overdraft of £1250. not have a student account, or a current account with an arranged overdraft, with another building society or a bank (though you may be able to switch either to Nationwide) have been accepted onto a full-time UCAS course of at least. Natwest Graduate account - interest free overdraft? A redkopite I have had a natwest student account during my 3 years at university, and now that I have graduated I have. The maximum Student overdraft is £3,250. e took out of your overdraft). 50% off food or 25% off food and drinks at thousands of participating UK restaurants. Benefits of the NatWest Student Account. You could be eligible for an interest-free limit up to £500 in your first term and £2,000 thereafter. NatWest new student account closure with no explanation. You need to also pay in £1,250 to an eligible NatWest account every month. a full-time post-graduate course;. According to the website, my graduate account overdraft is £2000…hello fellow student money savers, i need your help. Use of your account For any 1I2I3 Graduate Current Account opened on or after 26 June 2017, the account will last up to 2 years before it automatically transfers to an appropriate current account. Student current accounts are made for you if you’re going to university or college. Apply or manage your overdraft; Student overdraft; Graduate overdraft; Help with overdrafts . Business banking complaints team: available Mon-Fri, 8am-5pm. The NatWest Student Living Index 2023 gives you the full lowdown on higher education in the UK. A to Z. Card payment support. Nationwide and Barclays have biggest overdrafts with up to £3,000 interest-free. RBS Group, which owns NatWest and the Royal Bank of Scotland (RBS), started writing to affected customers from 15 August informing them that they were wrongly. We would like to show you a description here but the site won’t allow us. Not sure about when you change from student account to graduate, however. If you already have an arranged overdraft limit on your account that you feel is too low or too high, we could help you change it. 03. Championing kids and teens to be confident with their financial wellbeing. You’ll need to have a student current account as well, and be over 18. To apply, you'll need to be 18+ and have graduated in the past 2 years. What Are the Benefits of Natwest’s Overdraft. Then, once you have paid £500 into your account, you’ll receive the allowances below. The Tastecard gets you discounts at. Always use a safe way to pay. 9% EAR on overdrafts of over £1,500. I have a natwest student account, which I got when I first went to uni to do psychology. Students can a apply for up to £3,250 interest free from year three onwards*. Current accounts - NatWest. Subject to lending criteria. 9% EAR (variable) thereafter, giving a representative rate of 0%. Hi everyone, I'm going into my 2nd year of uni now and I'm looking to get a student account, Natwest seems to be the best as they offer a £2000 overdraft along with other perks for joining. 68/£13,000. NatWest and Royal Bank of Scotland are helping to make travel easier for students with a free National Express Coachcard when they sign up for a Student Account, register for online banking and receive paperless statements. With the HSBC Graduate Bank Account you'll get: You may be eligible for an overdraft facility, of which £3,000 will be interest-free during your first year and £2,000 in your second year after graduation. Same day electronic transfer. a. Apply or change respective overdraft with get running user to make this most out of your money. Make student life easier with our Student Current Account. You need to let them know as it will also affect your graduate overdraft when/if you graduate as you're interest free limit will always reduce a year earlier. The Royal Bank student account makes things easier. Graduate Trainee – NatWest Markets - Quantitative Analyst. 1. Interest-free overdraft - get an overdraft of up to £2,000 from year one (Limited to £500 in term one year one), with an instant online decision. grad account year 3: 0. Earn up to 15% cashback (you need to register for online banking and activate Cashback Extras ). Multiple Student Accounts; NatWest student overdraft; Overdraft; Santander bank;. All accounts below automatically turn into a graduate account once your course ends, which continues the 0% interest overdraft for a further two or three years – though the interest-free limit drops each year. Reply 5. £21 - between our branches. ›Budgeting & bank accounts. Natwest Graduate 2023; Can I open a student bank account if I already have a current account? Proof of address natwest; 2023 Summer Internship. Plus, the bank is well-established, has an easy-to-use app and hundreds of. Compare our current accounts. Only TSB can tell you about their student overdraft and lending criteria. I have searched my bank's website, but its…A student overdraft is a financial arrangement offered by banks to students in the UK. 25 January 2010 at 8:20PM in Budgeting & bank accounts. To apply you must be 18+ and resident in Jersey, Guernsey, Gibraltar or the Isle of Man. Make student life easier with our Student Current Account. It also means that anything you own may have to be sold to pay off debts – this can include your home, car or any luxury items. You can also set up alerts by calling us or talking to us. The idea of a savings account is that it’s a pot of money you leave alone, gradually building up over time. Available to over 18s only. So you'll need a plan on how to pay it back, ideally before the. I started off with £500 but ended up with £1000 after I was told it would be better and also I needed the money to help me financially. Overdraft: Both NatWest and RBS allow for an interest free overdraft up to £2000,. You can only hold one cash ISA with NatWest and must not open another cash ISA with any other provider in the same tax year. Additional, but non-essential, information about your policy and circumstances at the time you bought PPI. . Overdraft Rate (EAR) N/A. Your old account will be closed. I kept my santander student account with the £2000 overdraft as a graduate account during my PGCE, and they let me keep the overdraft when I finished. Find out more. Interest-free overdraft - get an overdraft of up to £2,000 from year one (Limited to £500 in term one year one), with an instant. Student satisfaction scores. Representative 0% APR (variable) Buy Now Pay Later is a credit product. Personal accounts. 10%. Graduate bank account overdrafts. Different Kinds of Natwest International Student Accounts offered. A minimum £100k savings or investments held with us. ##. But the figure declined to £437. We can arrange same day electronic transfer of funds (CHAPS) between bank accounts in the UK. The arranged overdraft limit can be up to £510 for the first 6 months, than you can apply to increase it up to £1010 in your 7th to 9th month of studying, and from the 10th month you can apply to. 49% EAR on £2,250 of the £3,250 limit. 50 in 2018 to £486 the following year. Open a student bank account. Information correct as at 31 October 2023. Overdraft amounts for the graduate account are £2,000 for the year after graduating, £1,500 after two years and £1,000 in your third year. Only one 1I2I3 Graduate Current Account can be open at. Overdraft of up to £2,000 in year 1 (limited to £500 term 1, year 1) Access to its Housemate app, which helps you split household. 8. Over the next five years through NatWest Thrive, we want to help 1 million young people improve their financial wellbeing so they can feel more confident about their future. Act Now Alerts. A student overdraft is not free money – it’s a loan that you'll need to pay back, ideally before the interest kicks in. Only one 1I2I3 Graduate Current Account can be open at. To apply, you need to be 18+ and a UK resident and have ONE of the following: Pay a minimum £100k sole income or £120k joint income paid into a NatWest account. Year 2: £1,000 Additional arranged overdraft agreed above your interest free entitlement will be charged at 19. When setting up a NatWest Student Current Account, you’ve got a good chance of receiving the full £2,000 overdraft. All you need to do is specify the overdraft that you wish to apply for (this is the new full amount not just the increased or decreased amount). A Student bank account is designed to make your life in higher education a little bit easier. To apply, you need to be 18 or over and a UK resident. Within the mobile app, choose your account and select 'Manage my card' from the list of options. However, lying to your bank may cause them to revoke the overdraft, leaving you really really stuck. According Natwest's site the student account is turned into a graduate account when you graduate. We cover. No Charge. I have searched my bank's website, but its… When you graduate, your 1I2I3 Student or 1I2I3 Postgraduate Current Account will automatically transfer to a 1I2I3 Graduate Current Account. To apply you must be 18+, earn at least £10k per year, be a UK resident, a NatWest current account holder and must not already have NatWest Buy Now Pay Later. Tens of thousands of people who held a student current account with RBS or NatWest between 2002 and March 2016 are due to receive a refund of overdraft charges. Subject to lending criteria. There’s no monthly fee for using our NatWest student account. i. Interest Rate (AER) 0. I had been banking with Lloyds TSB since I was 14, I am now 21 and have recently applied for a student account. These cards. To be eligible they need to sign up for online banking and select to receive paperless statements. Overdraft Facilities One of the most important features offered by almost all banks is the zero interest overdraft facility. NatWest and RBS will also be ending extra fees for using unarranged overdrafts, charging those customers the blanket 39. 28 July 2009 at 2:39PM. Student arranged overdrafts are available to NatWest Student current account customers, aged 18 or over. Open a student bank account. For example, NatWest’s graduate account allows an interest-free overdraft of up to £2,000 in the first. You must either be a full time undergraduate student on at least a 2 year course at a UK University/College or you must be completing a full time postgraduate or nursing course lasting a year. amend the limit on any arranged overdraft (and that overdrafts are only available to applicants aged 18 years or over). If your request is successful, we will confirm our decision and add the. Nil. Overdrafts guide; Overdraft eligibility calculator. What. 02. Debt is never a good thing, but a student bank account overdraft is an excellent buffer to keep up your sleeve, in case of. Now I'm in my 2nd year of Uni and after maxing out everything (1,000. Have £500k minimum mortgage borrowing with us. an overdraft is basically borrow money from the bank. 2 Offer ends 18 December 2023. it was simply gradually restored back to positive as. Hey all So far iv used £310 of my overdraft with natwest Im starting my first year of uni on mon You know the £310 overdraft when would i fully have to start paying it back, i understand i can deposit amounts into the account to decrease the overdraft but say if i was to leave it at £310 for 3 years (last year of uni, total 4 years). Manage your home insurance. After graduation: HSBC will move students onto a free graduate account after their course finishes. That £1,000 facility will then either be removed, or revert to bearing interest. The Arranged Overdraft limit you can apply for depends on what term and year of study you are currently in. After you graduate, your student account will be automatically changed to a NatWest graduate account. Both UK and international students can open a student bank account through Natwest. Natwest are crap, you can keep your student overdraft 1600 max I think for 5 years, then the 'graduate' accounts have about 500 free overdraft and that's it. It's also worth considering one of the customer-friendly digital banks. It allows you to withdraw more money from your student bank account than you have on your balance, up to a fixed limit. Any other products you have with your. If you're eligible for an overdraft and for what amount depends on the results of the full credit check. We would like to show you a description here but the site won’t allow us. Students can apply for up to £3,250 interest free from year three onwards. Natwest offers arranged overdrafts to students who have lived in the UK for a minimum of 3 years. With graduation dates set and debts looming, it’s time to start thinking about your future and finance. There are larger overdrafts with some other student accounts. Just follow these 3 simple steps: Open the NatWest app and click on your chosen current account. Your overdraft limit will stay the same for another year. Set up a standing order to save your money and consider turning on Round Ups to squirrel away the spare change (Eligibility criteria apply. 25 July 2009 at 2:38PM. You can arrange a transfer from overdraft to credit card with a money transfer credit card. Interest-free overdraft - get an overdraft of up to £2,000 from year one (Limited to £500 in term one year one), with an instant online decision. You’ll have to pass a credit check to be approved for. It's just a regular account with no overdraft but the problem is it's now friday so the money won't go in till monday and my local natwest is closed so i can't pay it over the counter. Invest up to £9k per child for the current tax year. if you take out an overdraft of 500 from the bank the moment money from work or student finace comes in the bank takes back the overdraft you borrowed and then the process goes round in a circle once again. Current accounts designed for you. I have been accepted for a student account with Natwest, they haven't sent me any confirmation of that yet but i know it has changed as my online banking now says student/graduate account, but there;s no overdraft facility yet? I have been offered a place and have a letter confirming this, i'm a mature student. this is in regards to natwest bank not sure about other banks. Clearing your student overdraft debt. I had to do a credit check for my overdraft but it was for Halifax. It forced me to be disciplined enough to pay the. Just thought I'd get this out there, in case anyone here knows any students using NatWest for their student accounts. An overdraft is a form of borrowing and is repayable on demand. 13 years ago. Only individuals who have a NatWest account and authorised access to Online Banking should proceed beyond this point. Natwest offers arranged overdrafts to students who have lived in the UK for a minimum of 3 years. Get a tastecard with NatWest bank accounts. It does state that after the first year the interest free overdraft zone would be cut to £1000, then the next year £500, then finally £0, but all the time offering the "Graduate Overdraft Repayment. Does Natwest allow you to have an overdraft on your student account. 0. You must be 17+ and have been living in the UK for at least 3 years. my account is with natwest for my student banking and it turns out they have been charging me interest since june at least on my overdraft. Overdrafts guide; Overdraft eligibility calculator; Overdraft cost calculator. Wel I'm a current (well finished really) undergrad. easy-to-manage account, manage my account. If the NatWest overdraft is the same as 10 years ago, you can keep this account overdrawn while you are a student with no fees. There are no fees, no charges and no interest to pay. Once the overdraft's paid off, you can then work to build your savings back up. NatWest Student Account 2008-09: A Guide The student account is available from June 9th to October 31st 2008. Use of your account Your 1I2I3 Graduate Current Account will last up to 2 years before it automatically transfers to an appropriate current account. This is important, as you may be charged interest if you use a certain amount of your overdraft. They work like a normal current account but have extras designed to make student life a little easier, such as interest-free overdrafts. student account: 2000. The TSB student account offers an overdraft facility, and there’s no interest to pay if you keep below the limit you’ve agreed with the bank. 87 out of 5, suggesting a general satisfaction with the accounts. What is the interest rate on a NatWest student graduate account? Representative 39. . 9% EAR variable Graduate Bank Account (opened between 16 July 2007 and 18 July 2008) Yr 1 – £1500 Yr 2. Even after however, they will likely decrease your overdraft amount. 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. natwest have reduced the overdraft charges though, so you wont be raped so badly. Use our overdraft calculator to work out how much your overdraft is costing you each month. The Graduate account can have an Overdraft of £2000 but only if you ask for it to be increased. Always make sure you have enough money in your current account, or a. Customer Service. View all current accounts or compare our range of current accounts. Does Natwest allow you to have an overdraft on your student account. Offer - free tastecard for 4 years (worth £29. I had paid it off in the time scale specified and then they changed it to a Select account, where I would be charged if I went into my overdraft again. Does anyone know if Natwest let you increase the overdraft early if you call them?Current accounts. Graduate Bank Account (opened up to 31 May 2007 and from 19 July 2008) Yr 1 – £1500 Yr 2 – £1000 Typical 19. Graduate overdraft; Help with overdrafts . Mobile app required and available with compatible iOS and Android devices and a UK mobile number. Assumed limit £1,200; Year 1: 0% EAR (variable) on the first £3,000, 19. When you graduate, we'll gradually. Ready to apply. Apply Transfer a Santander account. See all fraud & security options;The way banks try to encourage this is to reduce the maximum 0% overdraft each year – the idea being that by the time the 0% ends, you’ll have paid it off. If you absolutely can’t pay off your debts then bankruptcy might be for you. stargazeypie Posts: 20 Forumite. Student arranged overdrafts are available to NatWest Student current account holders aged 18 or over. That £1,000 facility will then either be removed, or revert to bearing interest. Postgraduate Bank Accounts (UK Students) Bank Account Name Overdraft Perks; RBS / Natwest: Student Bank Account: £500 in the first term, up to £2,000 after that: A National Express Young Persons Coachcard - valid for 4 years – giving you 1/3 off coach prices with National Express: HSBC: Student Bank Account: £500-£1,000 in the first term. I understand that you may at any time at your discretion, on giving written notice to me, amend the limit on any arranged overdraft (and that overdrafts are only available to applicants aged 18 years or over). Start university with a £500 interest-free overdraft. I have all my student finance sorted but like the idea of opening a student account to take advantage of the overdraft. Yes (NatWest) Student and Graduate accounts ;. £100 cash bonus plus a year-long. You can apply for up to £1,000 interest-free arranged overdraft in your first year, up to £2,000 in your second year and up to £3,000 in your third year and onwards. 7. F 7 667585 27/2/08 13:54 Page 2 PROOF 7 Graduate Accounts Current Account Loan Credit Zone Overdraft Overdraft Repayment Plan Application Form client account THE ROYAL BANK OF SCOTLAND RBK-LITERATURE. By mobile - your step-by-step guide: Open the NatWest banking app and select the ‘Payments’ icon at the bottom of the screen. If you've just graduated, you don't need to do anything. Open a bank account online - FAQs. After proving you're in education, they should give it to you (it automatically updates your account). Yep totally free, I graduated and extended it to £2000, then it was reduced to £1000 after 1 year. You could get: £1,400 in your 1st year. Other loan amounts are available at alternative rates. See our bank. Your child can withdraw money once they’re 18. I received a letter saying I had been charged for going over my agreed overdraft. I have had a natwest student account during my 3 years at university, and now that I have graduated I have received a letter saying it has been upgraded to a graduate account. Representative 0% APR (variable) Buy Now Pay Later is a credit product. You’ll get a free Santander 16-25 Railcard, interest on your balance and fee-free Arranged Overdraft. Providing copies of paid cheques. Overdraft calculator. The NatWest and RBS student accounts start with a definite £500 0% overdraft (as long as you're approved for an overdraft. From time to time NatWest has a cashback offer for students which you might be able to take advantage of too. Current account fraud Overseas: +44 3457 888 444. (variable) up to 18. See how much it costs to use an overdraft across our range of accounts. In January Natwest closed my account with no prior warning. 0% interest overdraft; Up to £3000 overdraft; £100 cash; Conditions: Must be 18 or over, and have a confirmed place at a qualifying UK University/college. The NatWest and RBS student accounts start with a definite £500 0% overdraft (as long as you're approved for an overdraft. We'll let you know that your bank account switch is complete. 49% on overdraft interest, with changes taking effect by the beginning of April 2020. After you graduate they will reduce the arranged overdraft gradually, so you have to find the account before this happens else you will pay interest and maybe fees. Video banking calls may be recorded and service hours may apply. . I graduated in 2006 after completing a 3 year degree in the normal fashion In June 2007 i recieved a letter saying that on the 31st July 2007 my 'free' overdraft limit would be reduced to £1000. An overdraft is where the bank lets you spend more than you've got (at no extra cost), up to a set amount. 13. Welcome to Learning with NatWest. Hi i have been with nationwide student flex for 3 years with a £1000 loan. You’ll also earn interest at an agreed rate. Royal Bank of Scotland. Lloyds and Halifax are offering. 2. 40 during 2020 as Covid took hold. 9% EAR variable Does Natwest allow you to have an overdraft on your student account. For anyone doing their PGCE - NatWest are offering student accounts with interest free overdraft and £100 cash for opening the account (they include post grads for student accounts). Interest on fees and charges is payable. At the moment, NatWest and RBS customers are charged up to 19. So it goes a bit like this. Compare our accounts to find one that's right for you. Posted by u/AntDogFan - 1 vote and 5 comments6. You’ll need a device that has a camera or webcam, and a connection to the Internet. When you graduate, your 1I2I3 Student or 1I2I3 Postgraduate Current Account will automatically transfer to a 1I2I3 Graduate Current Account. If you have savings, this could be easiest way to pay off your overdraft debt. Replacing lost or damaged cards. Maximum Arranged Overdraft limit allowed (subject to approval): If you're a student in the first term, of your first year of study, you can apply for up to £500. 9%-49. To apply you must be 18+, earn at least £10k per year, be a UK resident, a NatWest current account holder and must not already have NatWest Buy Now Pay Later. If you £250 into your overdraft and a student loan of say £1215 goes into the account then your account will be +£975(that is £1215 – 250). Pay with your debit or credit card – it’s a safer way to pay and gives you more protection. The full details of their current offer are as follows: An initial interest-free overdraft of £500. 05 * 100 = £1. Hi all. A £1,000 overdraft costing £20 a month in interest costs £240 a year, but the same in easy-access savings earns about £50 a year – at best. Then you'll pay interest, and get into more debt. ##. Basically, you’ll need to pay back at least £1,000 a. Business, Economics, and Finance. What you can't see, you can't spend. Not only does this account offer a large 0% overdraft, but it will remain interest-free for 3 years after you graduate. Graduate account overdraft maximum year 1: £2000. According Natwest's site the student account is turned into a graduate account when you graduate. No monthly fee. I'm amazed you managed to get those 3 student accounts, the terms for all 3 of those banks student accounts is that you can only have one. Co-Op does not have a "graduate account", so if you graduate after 3 years, the student account is supposed to be extended for 12 months after graduation, then the overdraft is set at 0 unless otherwise prearranged. To open a student bank account with Halifax, you have to meet the following requirements :¹. What Are the Benefits of Natwest’s Overdraft. From mobile, select ‘Overdrafts’ from your bank account menu, or click the ‘Your Overdraft options’ link. 49% the cost of borrowing £250 for a week through an authorised overdraft would rise from less than 90p a day to £1. With no monthly account fee. Capital One Graduate Programme 2024; Oxford College hurt/heal; Border Force Applications 2023;NatWest Student account and overdrafts. co. You can also claim free £100 in cash paid into your account, 0. 49%. 89% interest on arranged overdrafts, as well as a £6/month flat fee on most accounts. Best High Yield Savings Accounts. Understand arranged and unarranged overdrafts and their impact on your account. You can request a maximum overdraft limit of up to £2,000. An arranged overdraft is when we agree to a limit that lets you spend a bit more money than you have in your current account. Upto October I had been putting what I could in to cover the charges I was getting because they "upgraded" me to a graduate account and interest was now bein. There are no fees, no charges and no interest to pay. This is a benefit of the natwest graduate account that I took advantage of. Manage your savings account. Student current account. Graduate overdraft; Help with overdrafts . Most banks automatically switch you to a graduate account once you graduate. Not at all. Manage your loan. How graduate bank accounts work. This is a full analysis of your credit history and, unlike the soft check, it'll be visible on your credit report. no idea why, no-one could tell me. This rate is available on loans between £7,500 and £14,950. you may apply for a basic Natwest student account. When you open your account, you’ll automatically get an Arranged Overdraft limit of £250 once you have provided the proof that you are a student. Overdrafts under £500. Overdraft in 2023. Hi, I'm currently a university student, with a Natwest student account, which allows me a free overdraft of around £1600. A. Your overdraft will be reviewed, probably, when you leave University. Overdrafts guide; Overdraft eligibility calculator; Overdraft cost calculator;. The deal is that when you graduate, it turns into a graduate account, and the overdraft remains free for a further 12 months. Our extensive personal banking products include. Tax free Interest means interest payable is exempt from UK income tax. English Deutsch Français Español Português Italiano Român Nederlands Latina Dansk Svenska Norsk Magyar Bahasa Indonesia Türkçe Suomi Latvian Lithuanian český русский български العربية UnknownArranged overdrafts are designed for short-term borrowing, and you're only charged for the amount you use. NatWest Online Banking is easy, secure and lets you do all the things you need to do to manage your money online. 1. Book yours today. If the person you are adding to your account is already a NatWest customer: You will only need to send in one form of photo identification with a selfie of the front and side profile. Remember an arranged overdraft is a borrowing facility that you are responsible for repaying should you use it. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Register your card in the mobile app before you go. If you were looking to apply or make changes to an existing overdraft, please instead visit our eligibility tool . Freebies. Taking out multiple overdrafts is a stupid idea, because you are only increasing your burden of debt to repay once you graduate. N/A. In the fourth year after you graduate you will automatically. If you have a Natwest student account, it'll be automatically changed to a graduate account once you've graduated. I have a natwest student (or could be graduate by now) account as my main current account. With the student account overdraft, most banks have a "condition" whereby you need to deposit so-and-so amount every so often. Natwests policy is that you can have a £500 overdraft in your first term of your first year, then after that increase up to £2000. No Charge. They'll automatically change unless you evidence further study. The NatWest student account is designed to make your life in higher education a little bit easier. All data provided by TransUnion. Student overdrafts are designed to assist students during their academic years, helping cover living expenses or unexpected costs. eruka Posts: 9 Forumite. Your existing £1,500 overdraft facility will increase to £2,000 for 12 months. You’ll need to have a student current account as well, and be over 18. You should receive about 1200. OK. So pay off your overdraft with your savings and you're about £190 per £1,000 up each year. As you changed your work status to ‘graduate’, that means you could be eligible for an overdraft between £250 to £2,000. On this page Overview Change an overdraft limit Student overdrafts Common questions. Which they will then be put on a specific Graduate account plan once they graduate in order to pay the. Some banks let you switch even if you've not had their student account and you can get 0% overdrafts for up to three years. With our Student Current Account, you can apply for an interest-free arranged overdraft of up to £1,500 in years 1 - 3 and up to £2,000 in years 4 – 6. You would have had a student account until around a year after graduation (so 2007/2008 depending on your course length) then it switches to a graduate account with the same interest free overdraft for three years. Subject to lending criteria.