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Rory McGrellis Staff Photo

Rory McGrellis

Content Writer
Published: 14/08/2025
a piggybank wearing a graduation hat with coins stacked next to it

Students can access a range of perks, from exclusive vouchers to cash bonuses, as well as interest-free overdrafts.

 

More than 400,000 applicants have been accepted onto a university or college course, according to latest figures released by UCAS this A-level results day (14 August 2025) – a 3.1% increase on 2024.

But, with only a matter of weeks before most courses get underway, there’s much for student to arrange – including their personal finances. Fortunately, there’s a wide range of current accounts for students to consider, many of which come with attractive incentives such as free cash, vouchers and discounts, that could help their money stretch further.

Discover more about the latest student current account offers from across the high street below:

 

How does a student current account work?

Student current accounts work in much the same way as a traditional bank account, but are only available to those in higher education, and often come with added perks tailored to reducing costs for students. This can include discounts in certain restaurants and shops, or higher limits on interest-free overdrafts, for instance.

To open one of these accounts, you’ll need to show evidence that you are studying at a university, on top of the regular checks needed to open a current account.

 

Get a £100 cash bonus

Nationwide BS was one of the first providers to enter the student current account arena this year after it revived its popular FlexStudent account earlier this month. Students who open the account before 12 December 2025 and pay in a minimum of £500 can now receive a £100 cashback boost to their finances, as well as £10 a month in Just East vouchers for the first year. Those that refer a friend can then receive an additional £40 of these vouchers (£20 each to a maximum of two friends) provided they also meet the criteria.

This is on top of the account’s underlying benefits, offering holders zero foreign transaction fees when using its debit card abroad, and access to Nationwide BS’ member-exclusive Flex Regular Saver. Students can also benefit from an interest-free overdraft to help manage their money, which increases for each year of study, starting at £1,000 in year one, and building to £3,000 by year three.

 

Remember that while interest-free, overdrafts should only be used as a temporary measure to help manage your debt and will still need to be paid back. Read our guide on how overdrafts work if you want to find out more.

Last updated: 14/08/2025

  • Nationwide BS

    Account Name: FlexStudent

    Overdraft Rate (EAR): N/A

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: £100 cash, £120 in Just East vouchers, no foreign transaction fees, interest-free overdraft up to £1,000 for year one, £2,000 for year two and £3,000 for year three.

    Representative example: N/A

 

Discounts on thousands of restaurants

Meanwhile, students prioritising an interest-free buffer for their cash may wish to consider NatWest’s Student account and the Student account from Royal Bank of Scotland (RBS). These options offer overdrafts of up to £2,000 for those in their first year, however, note this is restricted to £500 during the first term. After starting your third year, you’ll then be able to apply to increase this limit to £3,250 – the longest interest-free overdraft available so far this year.

Having also recently launched incentives, both providers now come with £85 cash bonuses for applying to either account, and access to a tastecard membership for up to four years. For students looking to save when eating out, this card comes with an array of discounts, including two-for-one meals or 25% of the total bill across thousands of restaurants in the UK. The membership can also be used to get money off certain attractions and entertainment, and for 2025 has been extended to also include 25% off barista-made drinks.

Keep in mind that, unlike the Nationwide BS deal, this deal can be withdrawn at any time, and you won’t be eligible if you benefited from a NatWest student offer since 1 July 2021.

 

Last updated: 14/08/2025

  • NatWest

    Account Name: Student

    Overdraft Rate (EAR): N/A

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: £85 cash, four-year tastecard membership, interest-free overdraft up to £2,000, years one and two, and £3,250 from year three onwards.

    Representative example: N/A

  • Royal Bank of Scotland

    Account Name: Student

    Overdraft Rate (EAR): N/A

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: £85 cash, four-year tastecard membership, interest-free overdraft up to £2,000, years one and two, and £3,250 from year three onwards.

    Representative example: N/A

 

A £100 cash bonus, and £90 in Deliveroo vouchers

Lloyds Bank also entered the student account offer scene at the start of August with its Student Account, as did its other brands, including Halifax’s Student current account and Bank of Scotland’s Student Account. Students who open these accounts can receive a £100 cash incentive, as well as £15 a month in Deliveroo vouchers for the first six months – a total of £90 to spend on takeaways. On top of this, students signing up for a Deliveroo Students plan when their term starts can access exclusive benefits, including paying no delivery charges on orders over £15 in restaurants or £25 for retail or grocery shopping with Deliveroo Plus Silver.

To be eligible for the cashback offer, students must pay in a minimum of £500 into the new account before the end date on 31 October 2025; they’ll then need to make at least 20 qualifying transactions each month to get the Deliveroo vouchers between November and April. In terms of overdraft facilities, all three providers offer up to £1,500 interest-free for years one to three of your studies, which rises to £2,000 for years four to six.

 

Last updated: 14/08/2025

  • Lloyds Bank

    Account Name: Student Account

    Overdraft Rate (EAR): 0.00% (up to £2,000)

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: £100 cash, up to £90 in Deliveroo vouchers, interest-free overdraft up to £1,500 for years one to three rising to £2,000 for years four to six, cashback at selected retailers.

    Representative example: N/A

  • Halifax

    Account Name: Student 

    Overdraft Rate (EAR): 0.00% (up to £2,000)

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: £100 cash, up to £90 in Deliveroo vouchers, interest-free overdraft up to £1,500 for years one to three rising to £2,000 for years four to six, interest-free overdraft after graduation for limited period, cashback at selected retailers.

    Representative example: N/A

  • Bank of Scotland

    Account Name: Student Account

    Overdraft Rate (EAR): 0.00% (up to £2,000)

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: £100 cash, up to £90 in Deliveroo vouchers, interest-free overdraft up to £1,500 for years one to three rising to £2,000 for years four to six, cashback at selected retailers.

    Representative example: N/A

 

Don't be swayed by incentives alone

These offers can be head turners for students looking to kick off university with a little extra cash, however, it’s important not to be sold by these rewards alone.

For many living away from home for the first time, money management is crucial, and it can be “a little too easy to build up debts to cover necessities”, according to Rachel Springall, Finance Expert at Moneyfactscompare.co.uk. For this reason, it can often be more useful to prioritise features like arranged overdrafts, which could help you manage any debts more effectively.

“The most generous overdrafts come from NatWest, HSBC and Nationwide Building Society, which could be a lifeline for students who need to borrow during their years of study,” said Springall.

“However, taking on some part-time work in between their studies to have a bit of disposable income is wise, because an overdraft will need to be paid back,” she added.

Indeed, unlike the aforementioned accounts, HSBC’s Student Bank Account package has currently yet to be updated for 2025, nevertheless its overdraft facility remains a competitive option – students can borrow up to £1,000 interest-free which, depending on your circumstances, could rise to £3,000 by your third year. For those who still want more traditional incentives, holders can still find discount and exclusive offers on dining, leisure and shopping through the HSBC home&Away scheme.

 

Last updated: 14/08/2025

  • HSBC

    Account Name: Student Bank Account

    Overdraft Rate (EAR): N/A

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: Interest-free overdraft up to £1,000 for year one, £2,000 for year two and £3,000 for year three, discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC home&Away.

    Representative example: N/A

 

Other offers available

Alongside HSBC, students can still choose between an array of other student accounts that may still be worth comparing despite not currently offering any new sweeteners for the year. For example, those travelling far and wide for their studies may find Santander’s offer of a free 16-25 Railcard (valid for four years) a useful inclusion, which comes with its own range of extras. Its Edge Student current account also comes with a £1,500 interest-free overdraft for the first three years of study (rising to £2,000 by year five), and holders can earn cashback, enter prize-draws and obtain other offers through Santander Boosts.

Barclays Bank continues to offer its Student Additions account whereby university-goers can benefit from a £500 0% overdraft which rises to £1,500 by the second year of study. While there are no added extras thrown in, account holders will be eligible to sign up for the provider’s Blue Rewards scheme for £5 per month, netting them an array of perks, including access to exclusive savings rates and an Apple TV+ subscription.

Otherwise, students can earn a considerable 5.00% AER on balances up to £500 with TSB’s Student account, which may come in handy for those without a dedicated savings account. Likewise, holders can also benefit from an interest-free overdraft facility, limited to only £500 for the first six months, £1,000 for months seven to nine, before reaching the maximum threshold of £1,500 from the 10th month onwards.

 

Last updated: 14/08/2025

  • Santander

    Account Name: Edge Student Current Account

    Overdraft Rate (EAR): N/A

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: A 16-25 Railcard for new customers valid for four years offering discounts on food as well as entertainment and shopping, access to Santander Boosts

    Representative example: N/A

  • Barclays Bank

    Account Name: Student Additions

    Overdraft Rate (EAR): N/A

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: Holders eligible to sign up for Blue Rewards, including exclusive savings rates and Apple TV+ subscription

  • TSB

    Account Name: Student

    Overdraft Rate (EAR): 39.90%

    Interest Rate (AER): 0.00%

    Account Fee: N/A

    Perks: Credit interest of 5.00% AER on balances up to £500.

    Representative example: Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 0.0% APR variable.

Find out more and compare student current accounts:

While students may be enticed by the free perks on offer, Springall said it’s “essential they compare the whole bundle alongside the 0% overdraft in the first instance”. Find out more about the current accounts mentioned here, and compare against similar products, using our dedicated student current account chart.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.

Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.