Student Current Accounts 2015/16 – how the banks compare

Bank	Max 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 limit	Credit Interest	Incentives offered
Santander	£1500	£1500	£1500	£1800	£2000	N/A	1% if £100+ 2% if £200+ 3% if £300+ (max £2k)	Free 4 year 16-25 Railcard
Halifax	£3000	£3000	£3000	£3000	£3000	Over £3k interest at 7.2% EAR	0.10%	None
NatWest/RBS	£2000 (max £500 first term)	£2000	£2000	£2000	£2000	N/A	Nil	National Express Young Persons Coach Card - third off fares for 4 years
HSBC	£3000	£3000	£3000	£3000	£3000	N/A	2.00% on first £1000 in year 1	£60 Amazon Gift certificate plus £70 off a Kindle Fire HDX
Lloyds Bank	Months 1-6 up to £500, months 7-9 up to £1000, month 10 onwards £1500	£1500	£1500	£2000	£2000	8.2% AER and £6 monthly usage fee	Nil	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	£1500	£1500	8.2% AER	5.00% on balances up to £500	None
Barclays	£1500	£2000	£2000	£2000	£2000	Over £1000 = 50p per day and £1 per day for overdrafts over £2000	Nil	Barclays Blue rewards £7 monthly loyalty reward - subject to conditions. SmartSpend offers and cashback LifeSkills -modules including CV writing skills
Co-operative Bank	£1400	£1700	£2000			9.9% EAR	Nil	None