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Graduate arranged overdraft

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

Representative 39.49% APR (variable)

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.

Information Message

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 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 .
Information Message

Representative 39.49% APR (variable)

Any arranged overdraft limits over the interest-free threshold will incur fees and charges. Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative 39.49% APR (Variable). Assumed credit limit: £1,200.

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 £1,000 of the £3,250 limit. Following the second year after graduation you’ll be charged interest at 39.49% on £2,000 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

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.

Get ready to apply

You can apply for an overdraft if you:

  • Are aged 18+ and living in the UK.
  • Have not been declared bankrupt in the last 6 years.

Now, please read these important documents

Please take some time to review, print and/or save the below important documents.

All okay? Let's get started.