I have a natwest student account that has become a graduate account, which originally had a £2000 overdraft limit. This starts with up to £500 during your first term. a full-time post-graduate course;. 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. Banking from home. You also can't convert a joint current account'. Your rate depends on your personal circumstances, loan amount and term and may differ from this Representative APR. I have all my student finance sorted but like the idea of opening a student account to take advantage of the overdraft. Natwest bank have a graduate account for people like yourself (and me) it lasts 3 years and the value of the interest free overdraft you can get with it decreases each year so you have time to find a job to pay it back. 2. The idea of a savings account is that it’s a pot of money you leave alone, gradually building up over time. The NatWest Student Living Index 2023 gives you the full lowdown on higher education in the UK. If your request is successful, we will confirm our decision and add the. Available 24 hours, 7 days a week Credit cards. The monthly average jumped from £465. 49% EAR on £2,250 of the £3,250 limit. Select your account type, let us know how much of the overdraft. 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. 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. You’ll be able to get a Financial Health Check, apply for a loan and more. We would like to show you a description here but the site won’t allow us. That £2,000 facility will then reduce to £1,000 for a further 12 months. 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. You can also take advantage of no fees on overseas spending. 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. NatWest Student Account - Apply online only. 3. Hi guys, so I used my NatWest student bank account's arranged 0% interest overdraft today, and used the max, so £2000. Whether you're starting a side hustle or looking for tips to improve your. 89% to 39. You need to: be 18 or over. If your application is approved, you can get up to £500 in the first term and up to £2,000 if you're in. I'm a recent uni graduate and whilst I do not have a job yet, I am pretty far into my overdraft (due to rent from my third year, even though I had a…NatWest - Graduate Royal Bank of Scotland - Graduate. So I got myself a Natwest account and was told that I should get a Student overdraft as it would benefit me (I also got the credit card). 0. A big difference between a savings account vs a current account is how often you access your money. Taking out multiple overdrafts is a stupid idea, because you are only increasing your burden of debt to repay once you graduate. There may also be limits depending on what year of study you’re in. To apply, you must be 18+ and a UK resident with a NatWest current account (held for 3+ months). However pretty much all overdrafts are repayable "on demand" so theoretically Natwest can ask for it back at any time. Same day electronic transfer. From cost of living pressures and student loans to socialising, mental health and beyond, our research can prepare you for both the opportunities and. Manage your investments. We no longer offer our Student credit card but our Student overdraft could give you a short-term safety net if you’re low on funds. Natwest offers arranged overdrafts to students who have lived in the UK for a minimum of 3 years. You could be eligible for an interest-free limit up to £500 in your first term and £2,000 thereafter. Your Student account will automatically change to a Graduate account, and you can continue to use your card, online banking and mobile app as usual. 99 per year)*. you will get charged, and then charged interest on it until you come back within your limit. 2 Offer ends 18 December 2023. Specific account eligibility criteria applies. Select 'Card payment controls' from the options on the screen. If you are an Online Banking customer and complete the form using your log in details, we complete many of the fields for you. 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. £23 - between banks. The Tastecard gets you discounts at. 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. Providing copies of paid cheques. Video banking calls may be recorded and service hours may apply. 1 Overdraft rates and fees This current account comes with an interest-free and fee-free Arranged Overdraft. Compare Cash ISA accounts. Graduate Bank Account (opened up to 31 May 2007 and from 19 July 2008) Yr 1 – £1500 Yr 2 – £1000 Typical 19. An overdraft is a form of borrowing and is repayable on demand. 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. 89% and a usage. They work like a normal current account but have extras designed to make student life a little easier, such as interest-free overdrafts. No Charge. App available to customers aged 11+ with compatible iOS and Android devices and a UK or international mobile number in specific countries. Assumed limit £1,200; Year 1: 0% EAR (variable) on the first £3,000, 19. . amend the limit on any arranged overdraft (and that overdrafts are only available to applicants aged 18 years or over). Usually, the main benefit is an interest-free overdraft. NatWest is also offering a freebie to new students in the form of £100 in cash and a 4-year Tastecard. This charge also applies to providing details of paid cheques. Account holders are able to access the HSBC 5. We would like to show you a description here but the site won’t allow us. Set up a standing order to save your money and consider turning on Round Ups to squirrel away the spare change (Eligibility criteria apply. easy-to-manage account, manage my account. I had a 1400 overdraft with Natwest (old student account) and never went over this or had any. They call it an arranged overdraft – whereby a pre-fixed limit is set for the amount that can be overdrawn by the student. We can arrange same day electronic transfer of funds (CHAPS) between bank accounts in the UK. Considering these factors is crucial when. Since student bank accounts offer generous interest-free overdrafts, students dip into. After proving you're in education, they should give it to you (it automatically updates your account). Make student life easier with our Student Current Account. NatWest – 4%. In the fourth year after you graduate you will automatically move onto a Select account and your arranged overdraft will no longer be interest free. Get paid an interest rate of 0. Only individuals who have a NatWest account and authorised access to Online Banking should proceed beyond this point. Does Natwest allow you to have an overdraft on your student account. no idea why, no-one could tell me. High street deals on graduate bank accounts vary enormously, says Laura Howard, so make sure you get the deal that best suits you. They'll automatically change unless you evidence further study. All open Graduate programmes. Only one 1I2I3 Graduate Current Account can be open at. The deal is that when you graduate, it turns into a graduate account, and the overdraft remains free for a further 12 months. After leaving university, you'll only start repaying your student loan once you're earning above a certain threshold. If you are an International Student then please start a thread and I can advise on your thread. You’ll need a device that has a camera or webcam, and a connection to the Internet. Make sure you have selected the account you wish to make the payment from. As of the 17th December I am being switched to a standard current account which wants to charge me 18% interest on said overdraft and £6 a month for the pleasure! What did you expect? All overdrafts are repayable on demand. 50 in 2018 to £486 the following year. Make student life easier with our Student Current Account. Apply Transfer a Santander account. 5% interest and cashback at certain retailers. You can’t have had a FlexStudent or FlexGraduate account on 31 July 2023. This service is only available to switch current accounts. A to Z. I opened a NatWest student account this month and was approved a £2000 overdraft as I'm in my second year, I didn't know about student accounts having interest free overdrafts until recently so never. Online Banking. Then hit the ‘Gambling’ toggle to turn it off. You must be 17+ and have been living in the UK for at least 3 years. Yr 1, up to £1,000; Yr 2, up to £1,250; Yr 3, up to £. The first year is tiered: £500 in your first term to £2,000 in your second. Log in to NatWest Online Banking. You’ll get a free Santander 16-25 Railcard, interest on your balance and fee-free Arranged Overdraft. Prior to the account switch you should receive an email or letter detailing: - the changes to your account. Credit score available to existing NatWest customers once opted in through the app if aged 18+ with a UK address, and available to non NatWest customers aged 18+ with a UK, Channel Island or Isle of Man address following a successful registration. 16 July 2008 at 5:30PM. 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. This means you’re using an overdraft. Your overdraft will be reviewed, probably, when you leave University. Reply 12. Open a student bank account. That means being overdrawn by £1,000 for two weeks in a month will cost you £6. If your student loan doesn't go in, they'll either guess you've dropped out, or they'll think you have another student bank account, and it will be withdrawn. Choose from our fee-free account or view our full range of accounts. Our Video Banking service provides you with banking from a location of your choice. 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. 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. Sometimes, it helps to speak to an expert. We no longer offer our Student credit card but our Student overdraft could give you a short-term safety net if you’re low on funds. The NatWest and RBS student accounts start with a definite £500 0% overdraft – after your first term you can request for it to. Welcome to Learning with NatWest. 9 million profit. Account fee of £2 per month. 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. uk Gift Card. If your application is approved, you can get up to £500 in the first term and up to £2,000 if you're. Although most student bank accounts come with an overdraft facility, there are a number that stand out. Student overdrafts do not incur any fees or interest for using the Arranged Overdraft. Overdraft: Both NatWest and RBS allow for an interest free overdraft up to £2000,. Then, once you have paid £500 into your account, you’ll receive the allowances below. Hi im 28, and about to start a 3 year degree in September. 49% EAR on £2,250 of the £3,250 limit. easy-to-manage account, manage my account. Open a student bank account. App available to customers aged 11+ with compatible iOS and Android devices and a UK or international mobile number in specific countries. 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. Manage your bank account; MyRewards; Apply for an overdraft; Manage your overdraft; Mobile Banking; Log into Natwest Membership Services ; Overdraft cost calculatorFor example, NatWest’s graduate account allows an interest-free overdraft of up to £2,000 in the first year after university, but it reduces each year after. Natwest International Student Account has a lot of benefits like arranged overdrafts for eligible students’ accounts and other perks. A free 4. 9. 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. You’ll have to pay about 3 to 4% of the amount you’re transferring, but what you owe will move onto the card at 0% interest. Graduate Trainee – Internal Audit - Technology. didgeridoo12uk. The interest-free overdraft is a big draw, giving a consistent £1,500 limit through years 1-3 of university. Features and benefits. Only one cash offer is available per customer. stargazeypie Posts: 20 Forumite. What Are the Benefits of Natwest’s Overdraft. Book a NatWest Check-in. 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. I understand that I need to register to online banking and select Paperless Statement in order to get full access to our student benefits. Check my credit score. There’s no monthly fee for using our NatWest student account. Problem with Natwest Student AccountNatWest Student: 72%: Year 1:. 28 July 2009 at 2:39PM. If you have a Natwest student account, it'll be automatically changed to a graduate account once you've graduated. You can also claim free £100 in cash paid into your account, 0. With the student account overdraft, most banks have a "condition" whereby you need to deposit so-and-so amount every so often. The deal is that when you graduate, it turns into a graduate account, and the overdraft remains free for a further 12 months. £2,000 £1,000 and £500 if you go over that they just charge you the usual overdraft rates. You’ll need to have a student current account as well, and be over 18. Year 1: up to £2,000* Year 2: up to £1,000. (edited 6 years ago) 0. ². A student bank account is a current account that’s designed for people in higher education. * Eligible students in third year onwards can apply for up to £3250 from 2nd October 2023. Graduate accounts do not charge the Arranged Overdraft Usage Fee but interest may be charged (9. Must be 18 or over and living in the UK permanently. Posted by u/AntDogFan - 1 vote and 5 comments6. 99%: Overseas cash withdrawals: 2. So it’s still significant, even if it is not quite on par. 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). Overdrafts are repayable on demand. According to the website, my graduate account overdraft is £2000…hello fellow student money savers, i need your help. Tell them before they realize. Why apply for our Student bank account? Interest-free overdraft up to £1000 with an instant online decision. As a postgraduate student, you’ll be responsible for managing your own student finances. A student overdraft is not free money – it’s a loan that you'll need to pay back, ideally before the interest kicks in. As you changed your work status to ‘graduate’, that means you could be eligible for an overdraft between £250 to £2,000. Nationwide Flex Student. Does Natwest allow you to have an overdraft on your student account. Apply or change respective overdraft with get running user to make this most out of your money. An Unarranged Overdraft is when you spend more money than you have in your account and you haven’t previously arranged an overdraft limit with us, or have gone over your existing limit. You may also apply if you are enrolled in a full-time postgraduate or nursing programme lasting at least a year. Arranged overdraft of up to £1,500 interest free (subject to application, financial circumstances, borrowing history and lending criteria) Now available to Higher Apprentices (Level 7+)Persistent credit card debt, also known as long term credit card debt, applies when you’ve paid more in interest, fees and charges than you’ve paid back on the amount you’ve borrowed over an 18 month period. The Adapt current account is available for 11-17 year olds. 8. Go in to your branch, and talk to a manager. Online Banking available to customers aged 11. For example, the Lloyds student bank account offers an interest rate of 2% per annum for balances up to £5,000 and a sign-up incentive of £100. Only TSB can tell you about their student overdraft and lending criteria. See our bank. NatWest’s student account has you covered with an interest-free arranged overdraft account—the fundamental element of any good. I had been banking with Lloyds TSB since I was 14, I am now 21 and have recently applied for a student account. Halifax: 0% overdraft of up to £1,500 which can last for three years after you graduate. What is the interest rate on a NatWest student graduate account? Representative 39. Yes, you can go into your local branch with your offer letter and they will extend your student terms by a year. 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. Mortgage. Information correct as at 31 October 2023. I have both a Barclays and Natwest student account, even though I have banked with Barclays since 2003, I found Natwest so good with students. Never had any problems with Natwest in that time. written by Laurac1 on 28/05/2013. This rate is available on loans between £7,500 and £14,950. If your application is approved,. Providing copies of paid cheques. This is available in the first year of study and is intended to help students manage. App available to customers aged 11+ with a. Overdraft in 2023. 03. There are no freebies, but when students graduate, the interest-free element rises to £2,000 in the first year. Our Graduate Account is designed to help you make the transition from study to a career. When setting up a NatWest Student Current Account, you’ve got a good chance of receiving the full £2,000 overdraft. Your account number, sort code and debit card will stay the same. The NatWest and RBS student accounts start with a definite £500 0% overdraft (as long as you're approved for an overdraft. Since then NatWest have been pushing me to get a student credit card and are adamant that I’d be accepted. Up to £1,500. 5% interest and if you were only repaying £10 a month its very possible the interest was more than the repayment meaning the balance was increasing and at some point may have exceeded your agreed overdraft limit. written by on 04/10/2010. Open a bank account online - FAQs. Overdraft available to NatWest student current account customers aged 18+. Breakdown your budget. 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. ›Budgeting & bank accounts. NatWest Graduate Account Interest-free overdraft. You’ll start with £500 in the first year and straight up to £2,000 in your second year of university, if you study for year three an onwards, you can even apply for an interest free overdraft of £3,250. Act Now Alerts will help you stay aware of your overdraft use and manage the costs more efficiently. 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. So far, after saving up my wages to pay it off I now have -200 and I . You’ll need to have a student current account as well, and be over 18. Your balance transfer must be at least £100. Yes, you can go into your local branch with your offer letter and they will extend your student terms by a year. From mobile, select ‘Overdrafts’ from your bank account menu, or click the ‘Your Overdraft options’ link. Freebies. Here’s an overview of things to look out for: 0% overdraft fees – If you’re anything. Act Now Alerts. £100 cash and free 4 year tastecard sign-up offer. Santander has consistently gained glowing reviews for their student account. Save money in a tax efficient way. 50% off food or 25% off food and drinks at thousands of participating UK restaurants. Replacing lost or damaged cards. You'll find overdrafts of up to £3,250 are available with many student accounts, but how much you actually get depends on your credit rating. In year one it can be up to £1,000, then £2,000 for year two and £3,000 for year three and beyond. You could get: £1,400 in your 1st year. Our extensive personal banking products include. 49% the cost of borrowing £250 for a week through an authorised overdraft would rise from less than 90p a day to £1. NatWest’s new 2023 student banking offer includes: £100 cash welcome gift, transferred directly into your account. I still have access to the £2,000 student overdraft (no fees), despite NatWest stating the account turns into a graduate account after leaving uni, with the overdraft dropping to £1,000 after a year, and presumably with associated fees. The third option, a Tastecard, gives savvy students access to up to 50% off or 2 for 1 meals at participating restaurants as well as 40% off cinema tickets and 70% off hotels. Then standard rates apply. After graduation: HSBC will move students onto a free graduate account after their course finishes. Overdrafts guide;. You’ll need to have a student current account as well, and be over 18. Just follow these 3 simple steps: Open the NatWest app and click on your chosen current account. Natwest Graduate 2023; Can I open a student bank account if I already have a current account? Proof of address natwest; 2023 Summer Internship. Students also have the option to request an interest-free overdraft of up to £500 in their first term which can be increased to £2,000 in. You can also set up alerts by calling us or talking to us at your local branch. Basically, you’ll need to pay back at least £1,000 a. Download the NatWest app. Overdrafts guide; Overdraft eligibility calculator; Overdraft cost calculator. Nationwide is the final provider to offer £100 in cash, if you pay in at least £500 by 15 December 2023. (variable) up to 18. Angelharpist. HSBC, Natwest and RBS are offering cash bribes of up to £80 to students. 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. 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). 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. Our app's Savings Goal Tool can help you work out how long, and how much, it'll take to reach a specific goal. 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. Information correct as at 31 October 2023. Also remember that overdrafts are technically repayable upon demand - the bank can give you 30 days notice and then you are legally required to repay them the outstanding balance. 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. 28 July 2009 at 2:39PM. A fee-free arranged overdraft cap of up to £1,500 in years 1-3, £1,800 in year 4, and £2,000 in year 5. eg. Graduate bank accounts are designed as a stepping stone to give you some time to pay off your overdraft without interest before entering the big bad world of regular fee-charging overdrafts. I have recently tried applying for an overdraft, well started filling the forms out online, I got to the page requiring me to enter the limit I wanted (£500) and I noticed a message saying "Your application for an overdraft is unlikely to be accepted at the moment" So I've held off from applying as I don't want a rejected overdraft request recorded on. You should receive about 1200. 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. For example, if you have no money left in your account and you spend £30, your balance would be -£30. Find out more. Save up to £653 with a free 12-month subscription to Perlego’s online library of books, academic texts and tools. Here's what students in the survey said about their views and experiences with overdrafts:TSB's Student account offers an interest-free overdraft of up to £1,500. Your actual credit limit and APR may vary depending on our credit assessment of you. Fee free. £100 cash bonus plus a year-long. 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. If you have money guaranteed to come in, then they'll be more likely to give you an extended overdraft. There are no monthly fees, and like Natwest, offer the choice of three special offers, including the Tastecard, Amazon Prime Membership and National Express Coachcard. However I recently found out that Santander offer a railway card which would mean 1/3 spent on travel for me compared to paying the full cost per month on pay as you go. This term my student loan has arrived, however i was just wondering when does the bank take out the overdraft that you oweHi, I would like your expertise in what I could do to stop NatWest/trident credit services taking me to court and getting a ccj against me. 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. Hi all. Quoted from NatWest's website: If you hold a Student account and are graduating this year, we will be in touch to let you know we will be moving you onto a Graduate account in JulClick the link here to sign up for a Natwest student account. Nearly all student accounts are limited to £1,000 a year if that as they often require you to have been working and the £3,000 is at the end of 3 years. co. Since I graduated last year I've had an overdraft of around -1300 and used it all up. 13 years ago. 4 year tastecard – to be used for meals out, discounted cinema tickets and shopping offers. Savings account need-to-knows. Compare our accounts to find one that's right for you. 40 during 2020 as Covid took hold. ›Budgeting & bank accounts. We've ranked and reviewed the best student bank accounts as well as the top graduate accounts on offer. 9%-49. Mine is £1500 the first year as a graduate, reduced to £1000 in the second year. I was unaware until i received a letter informing me so, the machine had also swallowed my card a few days prior and my online service became unavailable. 10%. With graduation dates set and debts looming, it’s time to start thinking about your future and finance. Lending is subject to application and approval. MMC for Current Account with Control is £20, Student Current Account £40 and Cardcash Account £30. Any other products you have with your. You’ll need to have a student current account as well, and be over 18. i have had no notice of this and when i have been going into branch and using my account no one has mentioned a thing about the graduate. 1. Monzo, in order to attract the younger generation to completely switch accounts from your traditional Barclays, HSBC etc will have to offer free overdraft facilities for students up to £3,000. grad account year 2: 1000. 99 per year)*. 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. To check your eligibility, we’ll need you to update your ideal overdraft amount in step 4. If you've just graduated, you don't need to do anything. Those signing up with Santander can bag. Students can a apply for up to £3,250 interest free from year three onwards*. If you have savings, this could be easiest way to pay off your overdraft debt. So pay off your overdraft with your savings and you're about £190 per £1,000 up each year. Apply or manage your overdraft; Student overdraft; Graduate overdraft; Help with overdrafts . Explore our overdrafts. This means that, while you’re a student, you don’t need to pay any interest if you dip into your ‘arranged’ or ‘agreed. Use our overdraft eligibility checker to find. According Natwest's site the student account is turned into a graduate account when you graduate. Your overdraft limit will stay the same for another year. You may also apply if you are enrolled in a full-time postgraduate or nursing programme lasting at least a year. This could help you manage your money if: you have to cover short-term expenses; your income or outgoings vary from month to month; There’s no cost to set up an arranged overdraft on your account. Yep totally free, I graduated and extended it to £2000, then it was reduced to £1000 after 1 year. NatWest / RBS: up to £3,250 0% overdraft. I need some advise as I've been driving myself crazy wondering what is going on. I took it out in 2003 when i went to uni, and got given a £1400 interest free overdraft at that time. Available 24 hours, 7 days a week Business accounts. Specific account eligibility criteria applies. it was simply gradually restored back to positive as. 31, which is still much cheaper than Lloyds Bank and TSB, as NatWest/RBS don’t charge a monthly overdraft fee. RBS and NatWest latest to hike overdraft rates. It forced me to be disciplined enough to pay the. How to set up a repayment plan Our App is available to personal and business banking customers aged 11+ using compatible iOS and Android devices. Students can a apply for up to £3,250 interest free from year three onwards*. 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. Fact checked. Overdrafts guide; Overdraft eligibility calculator. Subject to approval. With our Graduate Account, the amount of your Arranged Overdraft that is interest free, decreases each year after you have graduated. Just follow these 3 simple steps: Open the NatWest app and click on your chosen current account. Capital One Graduate Programme 2024; Oxford College hurt/heal; Border Force Applications 2023;NatWest Student account and overdrafts. grad account year 3: 0. Many banks expect students to repay their overdraft in £500. You just go into your local branch and say you want an overdraft. These accounts are better than conventional accounts, but not as good as student accounts. Be careful: if you say you have a job lined up in the summer, they may ask for a letter confirming this. To open a student bank account with Halifax, you have to meet the following requirements :¹. 89% interest on arranged overdrafts, as well as a £6/month flat fee on most accounts. Only individuals who have a NatWest account and authorised access to Online Banking should proceed beyond this point.