Graduate arranged overdraft

A wee helping hand for when you enter the world of work

Graduate arranged overdrafts are only available to eligible UK residents who have a Royal Bank of Scotland Graduate current account. Subject to lending criteria. Over 18's only.

See how a Royal Bank of Scotland overdraft could help

An arranged overdraft lets you borrow money up to an agreed limit on your bank account. So if things are a wee bit tight, an arranged overdraft could help bridge the gap short-term.

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Overdrafts are a way of borrowing money and you're responsible for repayments if you decide to use one. If you're unable to repay what is owed, you could harm your credit score. Most lenders use this to assess whether they'll lend to you.

Interest-free buffer

  • Interest-free arranged overdraft up to £3,250 (for your first year after graduation)
  • Year 2 £2,250 interest free buffer
  • Year 3 £1,250 interest free buffer
  • Get handy text alerts to help you stay on top of things
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Apply with ease

  • It takes around 5 minutes to apply through Digital Banking
  • Get a decision straight away if you bank online with us
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Get your funds quickly

  • If your application is successful, you’ll normally have the funds available on the next working day. But there are some exceptions.
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Representative 39.49% APR (variable)

If you have a Graduate account with an arranged overdraft limit of *£3,250 following the first year after graduation and you use all of this, you will be charged arranged overdraft interest at 39.49% EAR on £2,250 of the £3,250 limit. Following the second year after graduation you’ll be charged interest at 39.49% on £1250 of the £3,250.

How does our overdraft compare?

A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year.

What are the overdraft costs?

*Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200

Features and benefits

Before you apply

Overdrafts explained

We know it’s not always easy to understand overdrafts, so we’ll keep you right by explaining the difference between arranged and unarranged overdrafts. The first thing to know is that both types will cost you money in interest when you use them. But there are other differences too.

Graduate arranged overdrafts

An arranged overdraft allows you to go overdrawn up to an agreed limit. This type of borrowing could help when you're entering the world of work, your day-to-day expenses are changing and pay-day feels a long way off.

Unarranged overdrafts

An unarranged overdraft is when you spend more money than you have in your bank account and you don’t already have an arranged overdraft in place, or when you exceed the arranged overdraft limit you already have on your account.

If you're accepted

Manage your overdraft easily, wherever you are

You can use our mobile app or Digital Banking services to see your balance or change your overdraft limit at a time that suits you.

Text alerts to keep you on the straight and narrow

Our free text alerts help you to keep an eye on your spending.

No interest to pay in the first year

You can apply for an arranged overdraft of up to £3,250, interest-free (subject to approval).

Tools to help you out

Check your chances of being accepted before applying

Have a shot of our eligibility checker tool, which will help you understand if you’re likely to be accepted for an overdraft before you start an application. It only takes a couple of minutes and it won’t harm your credit rating.

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Find out how much interest you're likely to pay

Our cost checker tool allows you to see how much interest you’re likely to pay based on how much you plan to borrow, and how regularly you want to use it.

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