Student Current Accounts

Student current accounts vary greatly in what they offer you, such as interest-rates, free gifts, cashback, over-draft facilities, account restrictions and charges. Because there are so many, it is important to shop around and find the best deal for your individual requirements. If you do not anticipate needing an overdraft facility, make sure you find one with a competitive interest-rate to get the most from your money. If you do think you will need an overdraft, find one that’s interest-free and with a buffer so you will not be charged if you exceed it by a certain amount.

Some things to consider when comparing student bank accounts include:

  • Interest rate – is it competitive when you are in credit?
  • Over-draft facilities – consider if it is interest-free, the limit, fees and interest rate if you exceed your limit, and how long you have to pay it back when you graduate, many reduce in increments each year after graduation to allow you to pay it off gradually
  • Benefits/free gifts – some offer extra incentives to entice you to open an account, such as £50 cashback, free gifts, or introductory periods

Do not just go for the account offering a free gift, as another may save you more money in interest and fees. Before you decide which student bank account is the right one for you, make sure you compare current accounts from a number of online and high street and banks.

 Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future. The products shown will be arranged on a non-advisory basis, unless otherwise agreed. Different types of investment carry different levels of risk and may not be suitable for all investors.

Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature.  If you are at all unsure of the suitability of a particular product for your circumstances you should seek independent financial advice. Please refer to our Non Advisory Terms of Business and Disclaimer & Privacy Statement  for further information.

The Financial Services Authority does not regulate taxation and trust advice, debt management, unsecured loans, credit cards, advice on household bills and some aspects of deposits, buy to let mortgages and secured loans. The information and content of this website is subject to the UK regulatory regime and is therefore intended for UK consumers.

Popular Student Money Searches