Bank | Max interest free overdraft Year 1 | Max interest free overdraft Year 2 & 3 | Max interest free overdraft Year 4 & 5 | Cost of additional borrowing on top of interest free limit | Credit Interest Paid | Incentives offered |
---|---|---|---|---|---|---|
Santander | £1500 | £1500 | £1800 Yr 4 £2000 Yr 5 | N/A | 1% if £100+ 2% if £200+ 3% if £300+ (max £2k) | Free 4 year 16-25 Railcard |
Halifax | £1500 | £1500 | £1500 | 1p per £6 borrowed per day | 0.10% | None |
NatWest/RBS | £2000 (max £500 first term) | £2000 | £2000 | N/A | Nil | Choose one of: Taste card Amazon Prime Student or National Express coachcard |
HSBC | £1000 | £2000 Yr 2 £3000 Yr 3 | £3000 | N/A | Nil | £100 cash payment 12 months British Cycling fan membership |
Lloyds Bank | Months 1-6 up to £500, months 7-9 up to £1000, month 10 onwards £1500 | £1500 | £2000 | 1p per £6 borrowed per day | Nil | TOTUM (NUS extra card) for 3 years |
TSB | Months 1-6 up to £500, months 7-9 up to £1000, month 10 onwards £1500 | £1500 | £1500 | 8.2% AER | 5.00% on balances up to £500 | None |
Barclays | £3000 | £3000 | £3000 | £1 per day for overdrafts over £2000 | Nil | None |
Nationwide Building Society | £1000 | £2000 Yr 2 £3000 Yr 3 | £3000 | None | 1% up to max balance of £1,000 | Free cash withdrawals abroad Simply Rewards cashback from specific retailers |
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