Legal information

Graduate current account

Graduate Royalties is available to graduates who have held a student account with The Royal Bank of Scotland, or who have graduated from a full-time higher education course lasting for three years or more, or completed a post graduate course or training as a nurse within past 3 years

Overseas students should contact their local branch for more information. Travel and Leisure benefits specified must be ordered through Royalties Membership Services. Commission free travel money must be arranged through The Royal Bank of Scotland.

Graduate Loan Examples

Typical Example: A Graduate Loan of £5,000 without repayment protection and without a payment holiday, you'll need to make 59 repayments of £101.25 and one final payment of £101.44. Total Amount Payable £6,075.19. 8.2% APR typical (variable).

The table below shows what your payments would be on a Graduate Loan without repayment protection and repayments deferred for 6 months. Interest on the Graduate Loan is charged during the deferment period of the loan and is then repaid as part of the monthly repayments.


8.2% APR typical (Variable)
Repayment periodAmount of loanMonthly paymentTotal amount payable
12 months£1,000 11 x £177.34
1 x £177.37		£1,064.07
24 months£5,00023 x £307.28
1 x £307.36		£5,531.12
60 months£5,000 59 x £114.74
1 x 114.49 		£6,196.11
£7,50059 x £172.11
1 x £172.43 		£9,294.26

The interest free loan has been developed to give graduates the opportunity to repay their overdraft, interest free over a 3 year period. The following table shows what your repayments would be on an interest free loan with repayments commencing one month following drawdown.

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0% typical APR
Repayment periodAmount of loanMonthly paymentTotal amount payable
12 months£1,000 11 × £83.33
1 × £83.37 		£1,000
£2,00011 × £166.66
1 × £166.74		£2,000
24 months£1,000 23 × £41.66
1 × £41.82 		£1,000
£2,00023 x £83.33
1 x £83.41		£2,000
36 months£1,000 35 x £27.29
1 x £27.35 		£1,000
£2,00035 x £55.60
1 x £54.60		£2,000

New customers will be asked to provide proof of identity, verification of address and signature.

Credit facilities: Over 18s only.

System updates will mean that our internet and telephone banking services are unavailable for short periods in the early hours of the morning.

Calls may be recorded.

With effect from 5th July 2005, Graduate customers are offered interest-free overdrafts, by prior arrangement, of:

  • up to £2,000 in year 1 after graduation
  • up to £1,500 in year 2 after graduation
  • up to £1,000 in year 3 after graduation

Then any arranged borrowing in excess of the agreed limit will normally be calculated at a higher margin above the Bank's Base Rate.

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Graduation is always taken as the end of June in your final year of study.

Royalties Membership Services is operated by Affinion International acting as agents for The Royal Bank of Scotland plc. Affinion International is registered in England and Wales: Number 1008797.

Sentinel Card Protection ('SCP') is a trading name and registered trademark of Affinion International. Registered address: Charter court, 50 Windsor Road, Slough, SL1 2EJ, United Kingdom. Registered in England No. 1008797. Affinion International is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only. Affinion International acts as an intermediary for arranging the insurance and provides the administration of the card registration and associated services.

This insurance is underwritten by Allianz Insurance plc Registered in England No. 84638. Registered Office: 57 Ladymead, Guildford, Surrey, GU1 1DB, United Kingdom. Branch Address: Allianz Schemes, 6 Vale Avenue, Tunbridge Wells, TN1 1EH, United Kingdom. Allianz Insurance plc is authorised and regulated by the Financial Services Authority (FSA). Their authorisation can be confirmed by the FSA by calling 0845 606 1234 or at www.fsa.gov.uk. Their FSA registration number is 121849.

Royalties Payment Card Protection is subject to Terms and Conditions, a copy of which is available in the back of the service guide you will receive after you convert your account.