Nationwide FlexStudent - Our totally fee-free student bank account

Your flexible interest-free and fee-free arranged overdraft

EAR stands for ‘Equivalent Annual Rate’. It’s an interest rate that takes into account the compounding of interest. That’s when interest is added to your outstanding balance, meaning you pay interest on interest already charged. It doesn’t include fees or promotional rates. The arranged overdraft limit is optional, and you don’t need to request the full amount each year. So long as you stay in control of your finances, we’ll increase the arranged overdraft amount you can ask for by £1,000 each year, to a maximum of £3,000. If your course is two years long, you’ll only be eligible to request a maximum of £2,000 by the end of the second year. To remain eligible for the arranged overdraft, you'll need to pay in at least £500 per term from the date the account is opened. This can include your student loan, money from family members or any other income.

Are you eligible?

• You’re aged 18 years or over.
  
• You’ve been accepted onto a full-time UCAS course at a UK institution for at least 2 years.
• You don’t already have a student account with another provider (or if you do, you agree to move it to Nationwide).

• You have an unconditional offer and be no more than 5 months before your course start date or no more than 2 months after your course start date. If you have a conditional offer, you’ll need to wait until your place has been confirmed following your results before applying.*

  * You can apply up to 18 months after your course starts if you’re already a Nationwide member, and have been with us for at least 12 months. You’re a member if you have a savings, mortgage or current account with us. If it’s been more than 2 months since your course started, you’ll need to pop into branch or give us a call to apply.