From 1st August 2006, Halifax Bank will be launching a new competitive student account offering a zero per cent overdraft of up to £500 more than its high street competitors.
The account will be available to all students over the age of 18 who are in full-time education and will give customers the flexibility of a £2,100 interest-free overdraft in their third, fourth and fifth study years.
The account will also come with a two per cent gross interest rate on credit balances.
"With the end of the student grant, the introduction of tuition fees and ever increasing living expenses, being a student has never been more expensive," said Peter Jackson, head of banking and savings at Halifax.
"These increased interest-free overdrafts could mean a significant saving over a three-year course of study – far better value than a record token or other gimmicks."
The account offers all other services typical of a student current account, including online and telephone banking, free access to cash at ATMs and a Visa debit card with a £100 cheque guarantee facility.To read more about banking, click here.
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