Features & benefits

Your overdraft explained

Important information

Your FlexStudent rates and terms explained

Here's some useful information about our interest rates and other fees and charges.

Interest rates when you're in credit

Main rates & fees when you are in credit
AER Gross p.a.
On balances up to £1,000 1% variable 1% variable

AER stands for 'annual equivalent rate' and illustrates what the interest rate would be if interest were paid and compounded each year.

Gross p.a. is the interest rate without tax deducted.

Your overdraft

Overdraft fees
Fees for arranged overdrafts Fees for unarranged overdrafts
0p per day (variable) 0p per day (variable)

FlexStudent Overdraft Representative Example

If you use an arranged overdraft of £1,200 the amount we will charge you is 0p per day (variable).

Other charges and fees

We don't charge you any fees on FlexStudent, but for a full list of all our current interest rates and other fees and charges please download our latest interest rates and charges leaflet (This link will open in a new window).

Funding your account

In each year of study you must pay in at least £500 per term from the date the account is opened.

If you don't, we may:

  • remove or decline to increase your overdraft; or
  • close your FlexStudent account by giving you at least two months' notice.

What happens when you graduate?

Unless you make alternative arrangements with us, we’ll move your account to a FlexGraduate account. We’ll also ask you to start paying back your overdraft in clear and steady steps.

What happens when I graduate?

Important information

Take a look at the FlexStudent account Terms and Conditions and our current account Terms and Conditions.

All rates and fees are subject to change. If we make a change to them we'll notify you two months in advance if the change is to your disadvantage. If the change is to your advantage we may make it immediately.

On the last day of each month we calculate the interest you've earned each day of that month and then pay you this interest on the 1st day of the next month. We pay interest without tax deducted.

For more information, please visit the current account support pages.

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If you live in a country that's part of the European Union (EU) or European Economic Area (EEA), you can apply for one of our current accounts.

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