Student Bank Accounts
Student Bank Accounts
Student bank accounts vary greatly in what they offer, such as free gift incentives, cashback, over-draft facilities and what they charge, for example, if you exceed an agreed over-draft limit.
It is important to shop around and find the best deal; look at high street banks in addition to online banks which are very competitive in what they offer. There is a wide selection of both student current accounts and student savings accounts to choose from.
Some things to consider when comparing student bank accounts include:
- Interest rate – is it competitive when you are in credit?
- Over-draft facilities – if it’s interest-free, the limit, fees and interest rate if you exceed your interest-free limit, and how long you have to pay it off when you graduate
- Benefits/free gifts – some offer extra incentives to entice you to open an account, such as £50 cashback, free gifts, or introductory periods
Before you decide which student bank account is the right one for you, make sure you compare bank accounts from a number of providers; do not just go for the one offering a free gift, as another bank may save you more money in other areas such as overdraft interest and fees.
|
| Provider | Account Name | Rate
(AER) | Minimum
Balance |
| Smile | Student Current Account |
3.04%
|
£0
|
| Clydesdale Bank | Student Account |
2.94%
|
£0
|
| Yorkshire Bank | Student Account |
2.94%
|
£0
|
| Halifax | Student Current Account |
2.02%
|
£0
|
| Bank of Scotland | Student Current Account |
2.02%
|
£0
|
| Royal Bank of Scotland | Graduate Royalties Account |
2.02%
|
£1
|
| Royal Bank of Scotland | Student Royalties Account |
2.02%
|
£1
|
| Abbey | Student Bank Account |
1.50%
|
£0
|
| Abbey | Graduate Bank Account |
1.50%
|
£0
|
| Bank of Ireland (NI) | Student Account |
0.50%
|
£1
|
|
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