What overdraft do I get with my Student Current Account?
This account is no longer available to new or existing customers. If you already have a student account, all the features and benefits of the account will still apply.
Your Co-operative Bank Student Account comes with an interest-free overdraft that goes up every year, giving you the added security you need to help ensure you are fully equipped to succeed in your studies.
- Year 1 - £1,400
- Year 2 - £1,700
- Year 3 - £2,000
Representative example: The advance of credit of £1,400 for a 12 month term in first year of study at an interest rate of 0% EAR* variable. Total amount payable £1,400. Any remaining balance would be repayable in one instalment at the end of the term.
With our Student Account overdraft there is no arrangement fee for setting up an arranged overdraft, no overdraft charges and interest is charged only if you go over your interest-free overdraft limit.
Overdrafts are available provided you are 18 or over. You must credit your Student Current Account with £300 to activate the overdraft. Subject to status.
*EAR is the equivalent annual rate taking into account the interest rate and how often interest is debited but excludes any fees or charges.