Graduate arranged overdraft

A little help to help you when you enter the world of work

Graduate arranged overdrafts are only available to eligible UK residents who have a NatWest Graduate bank account. Subject to lending criteria. Over 18s only.

What you'll get with an overdraft from NatWest

An arranged overdraft allows you to go overdrawn up to an agreed limit. So, if payday is still a long way off and you’re short of cash, an arranged overdraft could help to cover an unplanned expense. Think of it as a short-term safety net.

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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 impact your credit score, which most lenders use to decide whether they'll lend to you.

Interest-free buffer

Interest-free overdraft of up to £3,250 (for your first year after graduation).  

Year 2 £2,250 interest free buffer

Year 3 £1,250 interest free buffer

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Applying is really quick

Applying through Online Banking takes around 5 minutes

Get an instant decision if you bank online with us

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Fast access to funds

If your overdraft is approved, it'll normally be available the next working day, but there are some exceptions to be aware of

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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

First things first. There are 2 types of overdrafts – arranged and unarranged. Both types will cost you money in interest when you use them. It’s important you know the difference, so we’ll cover it off here.

Graduate arranged overdraft

When you're about to enter the world of work, your day to day expenses could change. That's where our Graduate overdraft could help.

Unarranged overdrafts

An unarranged overdraft is when you spend more money than you have in your account without already having an arranged overdraft in place, or when you exceed your current arranged overdraft limit.

If you're accepted

Manage your overdraft online or in the app

You can manage spending and increase, reduce or remove your overdraft limit quickly online and in our mobile app.

We'll send you text alerts

We'll keep you updated using our free text alert service if you start to use an arranged or an unarranged overdraft.

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

Use our eligibility checker tool and find out if you’re likely to be approved before you apply. It takes just a few minutes and won’t impact your credit rating.

Find out how much interest you're likely to pay

Use our overdraft cost calculator to see how much interest you’d pay based on your own circumstances and borrowing amount.