Students can sometimes get bank accounts with free overdrafts. They start charging fees when you graduate and are only interest-free for the first two years.
What happens to my overdraft when I leave university?
Student accounts often become graduate accounts automatically.
The overdraft on these accounts is fixed at 0% interest for the first two years. Read our guide to understanding interest and charges.
The overdraft limit goes down every 12 months.
You do not need to stay with the same bank when you finish your course.
You may be able to get a better account with another provider, like:
- One with a longer interest-free overdraft period, or
- One that comes with free gifts
Some providers will even let you switch if you have a large overdraft debt outstanding. But there may be a charge to do this.