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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

Get handy text alerts to help you stay on top

 

 

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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.

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 take a look at this important info

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

All okay? Let's get started.

What type of NatWest bank account do you have?
What device are using?
Are you using your mobile, or something else, to apply for a overdraft?
Is our app on the device you’re using right now?
The NatWest app is the easiest way for you to apply for a overdraft. Do you have it on this device?

Great, let's get started

Just a heads up - you'll be asked to log into the NatWest mobile app to start your loan application.

Do you have NatWest online banking?
If you know your online banking details we can pre-fill some of your info - making the application process faster.

Log in to start your application (please read the below carefully)

To apply, you’ll need to log in to Online Banking, then return to our overdrafts page.

How to apply:

(Please take notes or a picture of this, so you remember)

  1. Log in to Online Banking.
  2. Choose ‘Overdrafts’ (it’s under ‘Our Products’, bottom right).
  3. You’ll return to our overdraft page.
  4. Choose ‘Apply for or manage your overdraft’.
  5. Choose ‘Continue’ (under ‘All okay? Let’s go.’)

 

Log in and apply

Let’s get you signed up for Online Banking

You’ll need to sign up for Online Banking with us in order to apply for an overdraft. The good news is that it normally takes only 5 minutes and all you’ll need is your sort code, account number and your NatWest Debit Card, if you have one.

Do you have Online Banking?
Got Online Banking? We’ll pre-fill some of your info – so it’s faster for you to apply.

Log in to start your application (please read the below carefully)

To apply, you’ll need to log in to Online Banking, then return to our overdrafts page.

How to apply:

(Please take notes or a picture of this, so you remember)

  1. Log in to Online Banking.
  2. Choose ‘Overdrafts’ (it’s under ‘Our Products’, bottom right).
  3. You’ll return to our overdraft page.
  4. Choose ‘Apply for or manage your overdraft’.
  5. Choose ‘Continue’ (under ‘All okay? Let’s go.’)

 

Log in and apply

Let’s get you signed up for Online Banking

You’ll need to sign up for Online Banking with us in order to apply for a overdrafts. The good news is that it normally takes only 5 minutes and all you’ll need is your sort code, account number and your NatWest debit card, if you have one.

Have you lived in the UK for 3 years or more?

Great! Because you've lived in the UK for 3+ years, you could be eligible for a Student overdraft.

Before you get started you’ll need to head to your local branch to provide proof of 3 years of residency – e.g. tenancy agreements or previous utility bills.

Book an appointment

Sorry, we're unable to offer you an overdraft at this time.

Our Student overdraft is only available to customers who have a Student bank account with us. Want to take a look?