Just in time to rustle up custom among those students looking into banking facilities for their first year at university, HSBC has unveiled a new student banking product.
The new package includes an interest-free overdraft of up to £1,000 in the first year and several discounts and special offers for purchasing "student essentials", such as clothes, computer equipment and books.
There is also the choice of a free gift of either an MP4 player or ten free CDs.
Trina Smith, student banking manager at HSBC, said:
"With students facing tuition fees to the tune of £3,000 a year for the first time in 2006, and student loan income lagging behind typical outgoings by well over £5,500 last year, it's the money-saving features of their bank account that will make a real difference."
Ms Smith encouraged students to more effectively manage their debt as a way to beat typical student financial shortfalls.
"We encourage students to pop in to speak to one of our advisers about how they can budget their way through university, keep borrowing to a minimum and make the most of what their bank account has to offer."To read more about banking, click here.
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