Student bank accounts

Student bank accounts are based on standard current accounts offered by banks, but are exclusively created for university students, and can include benefits such as interest free overdrafts and freebies.


You can borrow money through your student/current account with an arranged overdraft. This is a useful back up if you run out of money at the end of the month/term. The best thing about a student account is that money borrowed through an overdraft has 0% interest. With an interest-free overdraft, you pay back nothing more than what you borrow.

Be aware that the 0% interest period may end a couple of years after you graduate as most banks automatically turn your student account into a graduate bank account. Then the interest charges will set in, so it would be wise to plan ahead and start paying the overdraft off before the higher repayment rates set in.

Many banks will advertise the 0% interest overdraft as “up to” a certain amount. However, the maximum amount is only available in your final year studying and only to students with a decent credit rating.

Student account overdrafts are a form of borrowing, so you’ll be credit scored when applying. The quality of your score can determine how much overdraft you’ll be offered.


Offers included with a student account can range from free products, travel discounts, cash rewards and other exclusive deals. These may sound tempting but it’s worth doing your research to see which banks offer what and what you could most benefit from, as well as taking into consideration which bank is best for you.

Disabled Students' Allowance (DSA)

As a higher education student living in England, you can apply for a Disabled Students’ Allowance (DSA) if you have a:

  • disability
  • long-term health condition
  • mental health condition
  • specific learning difficulty, such as dyslexia

The support you get depends on your individual needs and not on income. You can apply for DSA through your Student Finance application.

You can get help with the costs of:

  • specialist equipment, for example a computer if you need one because of your disability
  • non-medical helpers
  • extra travel because of your disability
  • other disability-related costs of studying