Student bank accounts
Wednesday, 22 Nov 2006 11:44
Student bank accounts are current accounts designed for students.
Student bank accounts are tailored to the needs of the student lifestyle, and tend to offer large interest-free overdrafts and access to a student credit card.
Often they offer incentives, including mobile phones, CDs, railcards, and MP3 players to get students to sign up.
However, experts argue that the most important factors students should look for are the overdraft, and the proximity of a bank branch to their halls of residence.
Often banks require students to pay their loan into their student bank account to receive the benefits on offer.
The interest free overdraft tends to reduce in instalments after students graduate.