A Student bank Account is needed for your student load etc. So, what is a Student Bank Account?
It is a normal bank Current Account but with the bonus of an interest free overdraft facility, as needed by a student. The account lasts for 3 years but may be extended to a 4th year if required. the overdraft must be repaid, within a set time period after graduation, or the overdraft will attract interest at the standard rate for the bank in question.
Some accounts offer 'freebies' such as a 5 year Student Rail Card. The amount of the overdraft will vary from bank to bank and remember the overdraft if progressive starting with e.g. £500 for the first term and increasing progressively to the (maximum) advertised level.
Note also, you cannot open a Student Bank Account until you have a confirmed college or university place and you will need to show evidence to the bank.
To find the best Student Accounts check out Moneysaving Expert see useful links
It is a normal bank Current Account but with the bonus of an interest free overdraft facility, as needed by a student. The account lasts for 3 years but may be extended to a 4th year if required. the overdraft must be repaid, within a set time period after graduation, or the overdraft will attract interest at the standard rate for the bank in question.
Some accounts offer 'freebies' such as a 5 year Student Rail Card. The amount of the overdraft will vary from bank to bank and remember the overdraft if progressive starting with e.g. £500 for the first term and increasing progressively to the (maximum) advertised level.
Note also, you cannot open a Student Bank Account until you have a confirmed college or university place and you will need to show evidence to the bank.
To find the best Student Accounts check out Moneysaving Expert see useful links
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