0% Overdraft UK
12+ Offers
Explore our list of UK banking providers that offer a 0% overdraft. One popular strategy to profit from these is stoozing. Before proceeding, check out the impact applying for an overdraft can have on your credit score.
0% Overdraft Providers
Explore a selection of UK banks offering 0% overdrafts
| Provider | Rate | Amount | Period | Overdraft After | Pay In (Monthly) | Sign Up | Expiry |
| First Direct 1st Account | 0% | £250 | - | 39.9% EAR Variable | £0 | Get Started | - |
| Nationwide FlexDirect | 0% | £1500 | 12 Months | 39.9% EAR Variable | £0 | Get Started | - |
0% Overdraft Providers - Students Only
Explore a selection of UK banks offering overdrafts specifically to students - usually these offers only apply to first year students however there are occasions where it’s possible to switch to earn extra benefits!
| Provider | Rate | Period | Notes | Extra Perks | Sign Up |
| Santander Edge Student | 0% | • £1500 (years 1 to 3) • £1800 (year 4) • £2000 (year 5) | • Register for online banking • Pay in £500+ every four months | • Free four-year railcard | Get Started |
| Nationwide FlexStudent | 0% | • £1000 (year 1) • Up to £2000 (year 2) • Up to £3000 (year 3+) | • Pay in £500+ each term | • £100 free cash (pay in £500+ by 13th December) • £10 Just Eat voucher (each month) | Get Started |
| NatWest Student | 0% | • £500 in the first term • Up to £2,000 from the second term until the end of year 2 • Up to £3,250 in years 3+ | - | • £100 free cash • Free four-year tastecard | Get Started |
| HSBC Student | 0% | • £1000 (year 1) • Up to £2000 (year 2) • Up to £3000 (years 3+) | - | • £125 free cash (make 5 debit card payments) | Get Started |
| Co-op | 0% | • £1400 (year 1) • Up to £1700 (year 2) • Up to £2000 (years 3+) | • Pay in £300 within the first 28 days. | - | Get Started |
| Lloyds Bank | 0% | • £500 (first 6 months) • Up to £1000 (months 7-9) • Up to £1500 (until the end of year 3) • Up to £2000 (from year 4) | • Pay in £500 by the end of October | • £110 free cash • Student event discounts • Cashback at certain retailers | Get Started |
| Bank of Scotland | 0% | • £500 (first 6 months) • Up to £1000 (months 7-9) • Up to £1500 (until the end of year 3) • Up to £2000 (from year 4) | • Pay in £500 by the end of October | • £110 free cash • Student event discounts • Cashback at certain retailers | Get Started |
| Halifax | 0% | • Up to £1500 | - | • £110 free cash (pay in £500+ by 31st October) • 0.5% interest • Up to 15% cashback with select retailers | Get Started |
| Barclays | 0% | • £500 in term one • Up to £1,000 in the rest of year one • Up to £1,500 for the rest of your time at uni | - | - | Get Started |
| TSB | 0% | • £500 for the first six months • Up to £1,000 for months seven to nine • Up to £1,500 until the end of year three | - | • 5% interest on balances up to £500 | Get Started |
How do overdrafts work?
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The equivalent annual rate (EAR) represents the interest you would incur if your account remained overdrawn for an entire year. It accounts for compound interest (interest charged on interest) but excludes any additional fees that may apply when you go overdrawn.
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An arranged overdraft is a pre-agreed limit with your bank, while an unarranged overdraft occurs when you exceed your account balance without prior approval, often leading to higher fees and interest.
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Having an overdraft doesn't necessarily harm your credit score and can actually help build it if managed responsibly, as it shows lenders you can handle credit effectively. See our more in-depth guide here.
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Stoozing involves using 0% overdrafts to borrow money without incurring interest and then depositing those funds into high-interest savings accounts to earn a profit. This strategy leverages the interest-free borrowing period to generate returns from the interest earned on savings. See our more in-depth guide here.
Overdrafts are a form of debt—and one of the most costly, even when arranged. It's important not just to address the symptoms of your overdraft, but to focus on paying it off. These accounts offer an overdraft facility that could help reduce costs over time. However, keep in mind that approval is not guaranteed (you can in most instances use an eligibility checker prior to applying - see the providers site for more details).
