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santander limited

business loans uk start or grow your business

Country/Region china

Company santander limited

Categories Chinese Business Consulting Service

Update 2020-01-14 10:44:00

ICP License Issued by the Chinese Ministry

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What you can get

  • A free 4-year Santander 16-25 Railcard to save 1/3 on rail travel in Great Britain
  • A fee-free and interest-free arranged overdraft of 1,500 in years 1-3, 1,800 in year 4 and 2,000 if you stay on to year 5 - Learn more in our 'Overdrafts and charges' section below
  • Monthly interest of 3% AER/2.96% gross (variable) on balances from 300 up to a maximum of 2,000
  • Earn cashback of up to 15% at a range of major retailers when you use Retailer Offers with your Santander debit card
  • 1|2|3 World offers


  • You’re 18 or over and live in the UK permanently
  • You’re studying or are about to begin an undergraduate course that is at least 2 years in length, or level 4 to 7 apprenticeship. If you’re about to begin your course, you must have an ‘unconditional’ or ‘confirmed conditional’ offer (i.e. you have your exam results) before you apply
  • You pay in at least 500 per academic term
  • You don’t already have an existing Santander current account. If you do, you’ll need to transfer it
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Overdrafts and charges

Account fee

There’s no monthly fee to maintain the account.

The Fee Information Document details the main fees and charges on this account. For further explanation of our main terms and services take a look at our Glossary

Arranged overdraft

An overdraft lets you borrow through your current account. It’s intended mainly for short term costs or emergencies and isn’t generally suitable for longer-term borrowing. There is a cost associated with using an overdraft. The way you manage your overdraft, for example if you don’t repay your fees and charges regularly, may affect your credit file. This could make it harder or more expensive to get credit with us or other providers in the future.

Overdrafts depend on your circumstances and you must repay any overdraft when we ask in line with our General Terms and Conditions. We may ask you to repay all or part of your overdraft at any time but we'll try to notify you of this in advance.

An arranged overdraft is when we let you borrow up to a pre-agreed limit you can ask for one when you open your account or at any other time.

An unarranged overdraft occurs when your account goes overdrawn without an arranged overdraft in place or if your account goes over your arranged overdraft limit.

When you try to make a payment that would take you into an unarranged overdraft, we make the decision whether to allow or reject the payment based on your individual circumstances and you may incur a fee.

How much will it cost?

The table below shows how you’ll be charged for using your overdraft.

When you open your account you’ll get an arranged overdraft limit of 250. To increase this to 1,500 you’ll need to:

  • register for Online Banking
  • pay in 500 and continue to pay in at least 500 per academic term
  • we’ll automatically increase your overdraft limit as shown below at the start of each year of study. You can ask to reduce the limit at any time.

Year of study

Arranged Overdraft limit

Years of study 1, 2 and 3

1,500 Arranged Overdraft limit

Year of study 4

1,800 Arranged Overdraft limit

Year of study 5

2,000 Arranged Overdraft limit

Overdraft fees

Arranged Overdraft

No fee

Unarranged Overdraft fee

5 per day (capped at 10 days in each monthly statement period)

Fee for allowing a payment despite lack of funds

5 per transaction

Fee for refusing a payment due to lack of funds

10 per transaction

The 1|2|3 Student Current Account has a monthly cap for Unarranged Overdraft fees of 50 which includes fees for allowing or refusing a payment due to lack of funds.

If you try to make a payment that would take y

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