Lloyds Bank Offers Students £100 Bonus and Tuition Fee Prize Draw
New student current account applicants can receive a cash incentive and enter a draw to win up to £9,790, alongside other potential perks like Deliveroo vouchers.
Lloyds Bank has announced its new student current account offer for the 2026 academic year, set to launch on July 30. New customers opening the account could receive a £100 cash bonus and be entered into a prize draw for a chance to win one of five prizes equivalent to a year's tuition fees, totaling £9,790 each.
To qualify for the £100 cash incentive, students must open a Lloyds student account between July 30 and October 30, 2026, and deposit at least £500 into the account by October 30. The cash bonus is expected to be paid in November. Applicants must be over 18, live in the UK, and provide proof of acceptance to a university or further education course.
Students may also be eligible for up to £120 in Deliveroo vouchers. This perk requires making 20 or more qualifying debit card transactions per month between November 2026 and April 2027. Transactions such as transfers between accounts, gambling, or cryptocurrency purchases will not count. Each voucher will be provided as a £20 monthly allowance.
In addition to the sign-up incentives, the Lloyds student account offers an interest-free arranged overdraft of up to £1,500 for the first three years of study, increasing to £2,000 for longer courses extending to six years. Eligibility for the overdraft requires a separate application and assessment.
The account also features no foreign transaction fees when using the debit card abroad, a benefit becoming more common with app-based banks. Competitor NatWest is also offering a £100 incentive for new student customers this year.
To enter the tuition fee prize draw, students aged 18 and over with a UK registered address must activate the offer within their mobile banking app or online banking between July 30 and December 1, 2026. The account must remain open until December 1, 2026, for eligibility. Winners will be randomly selected within seven days after the promotional period ends and notified via email, with the prize paid into their account within 30 days of selection.
Joanna Clarke, head of personal current accounts at Lloyds, stated that the offers are designed to help students manage their budgets by easing financial pressure and making their money work harder. The bank also offers other rewards and discounts accessible through its app and online platform.