Lloyds Bank Offers Students £100 Bonus and Tuition Fee Prize Draw
New student current account includes a cash incentive, potential for tuition fees to be paid, and free international debit card use.
Lloyds Bank has launched its new student current account for the 2026 academic year, offering a £100 cash bonus to new customers and a chance to win one of five £9,790 prizes, equivalent to a year's tuition fees. The account, available from July 30, also provides an interest-free overdraft of up to £1,500 for the first three years of study, rising to £2,000 for longer courses, subject to assessment.
To qualify for the £100 cash bonus, students must open a new Lloyds student account between July 30 and October 30, 2026, and deposit at least £500 into the account by October 30. The cash incentive will be paid in November. Those who already hold a student account with Lloyds are not eligible for this offer.
Students opening the account could also receive up to £120 in Deliveroo vouchers. To earn these vouchers, customers must make 20 or more qualifying debit card transactions per calendar month between November 2026 and April 2027. Each voucher is issued as a £20 monthly allowance, with specific transaction types like transfers between accounts, gambling, and crypto purchases excluded.
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Beyond the immediate incentives, the Lloyds student account features no fees for using a debit card abroad, a benefit increasingly common with app-based banks but still a notable perk. The bank also offers a savings rate of 5.25% on its monthly saver account for 12 months.
To enter the prize draw for a chance to win a year's tuition fees, students aged 18 or over, residing in the UK with a registered address, must activate the offer within the Rewards space or Everyday Offers section of their mobile banking app or online banking. The account must remain open until December 1, 2026. Winners will be randomly selected and notified via email within seven days of the promotional period ending, with the prize paid into their account within 30 days.
Competitors like NatWest are also offering similar incentives, including a £100 cash bonus and a four-year Tastecard. Other banks, such as HSBC, Nationwide, and Santander, are also offering various perks, including cash bonuses, railcards, and high-interest regular saver accounts, alongside interest-free overdrafts of varying amounts.
Lloyds Bank personal current accounts head Joanna Clarke stated that the offers are designed to help students manage their budgets, which often need to cover rent, food, travel, and tuition fees. The bank aims to provide additional opportunities for students to make their money work harder for them through various rewards and discounts accessible via its app and online platform.