Student Current Accounts 2015/16 – how the banks compare

BankMax interest free overdraft
Year 1
Max interest free overdraft
Year 2
Max interest free overdraft
Year 3
Max interest free overdraft
Year 4
Max interest free overdraft
Year 5
Cost of additional borrowing on top of interest free limitCredit InterestIncentives offered
Santander£1500£1500£1500£1800£2000N/A1% if £100+
2% if £200+
3% if £300+ (max £2k)
Free 4 year 16-25 Railcard
Halifax£3000£3000£3000£3000£3000Over £3k interest at 7.2% EAR0.10%None
NatWest/RBS£2000 (max £500 first term)£2000£2000£2000£2000N/ANilNational Express Young Persons Coach Card - third off fares for 4 years
HSBC£3000£3000£3000£3000£3000N/A2.00% on first £1000 in year 1£60 Amazon Gift certificate plus £70 off a Kindle Fire HDX
Lloyds BankMonths 1-6 up to £500, months 7-9 up to £1000, month 10 onwards £1500£1500£1500£2000£20008.2% AER and £6 monthly usage feeNilNUS extra card for 3 years
TSBMonths 1-6 up to £500, months 7-9 up to £1000, month 10 onwards £1500£1500£1500£1500£15008.2% AER5.00% on balances up to £500None
Barclays£1500£2000£2000£2000£2000Over £1000 = 50p per day and £1 per day for overdrafts over £2000NilBarclays Blue rewards £7 monthly loyalty reward - subject to conditions.
SmartSpend offers and cashback
LifeSkills -modules including CV writing skills
Co-operative Bank£1400£1700£20009.9% EARNilNone

4 Trackbacks & Pingbacks

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  3. Warning over student bank accounts | EuroMarket News
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