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Student Accounts 2014 – how the banks compare

Bank	Max interest free overdraft Year 1	Max interest free overdraft Year 2 & 3	Max interest free overdraft Year 4 & 5	Cost of additional borrowing on top of interest free limit	Credit Interest Paid	Incentives offered
Santander	£1500	£1500	£1800 Yr 4 £2000 Yr 5	N/A	1% if £100+ 2% if £200+ 3% if £300+ (max £2k)	Free 4 year 16-25 Railcard
Halifax	£1500	£1500	£1500	1p per £6 borrowed per day	0.10%	None
NatWest/RBS	£2000 (max £500 first term)	£2000	£2000	N/A	Nil	Choose one of: Taste card Amazon Prime Student or National Express coachcard
HSBC	£1000	£2000 Yr 2 £3000 Yr 3	£3000	N/A	Nil	£100 cash payment 12 months British Cycling fan membership
Lloyds Bank	Months 1-6 up to £500, months 7-9 up to £1000, month 10 onwards £1500	£1500	£2000	1p per £6 borrowed per day	Nil	TOTUM (NUS extra card) for 3 years
TSB	Months 1-6 up to £500, months 7-9 up to £1000, month 10 onwards £1500	£1500	£1500	8.2% AER	5.00% on balances up to £500	None
Barclays	£3000	£3000	£3000	£1 per day for overdrafts over £2000	Nil	None
Nationwide Building Society	£1000	£2000 Yr 2 £3000 Yr 3	£3000	None	1% up to max balance of £1,000	Free cash withdrawals abroad Simply Rewards cashback from specific retailers