4 things to look for in student accounts

Read on for a list of important things you need to consider when getting a student bank account.

09:08 12 May 2013

If you’re a full-time student in any of the university in the UK, it’s highly recommended that you get a student bank account.

Why? It’s because these offer interest-free overdrafts. You can use the money to make a profit or spend it on your personal needs.

Below are the things that you need to seriously consider when applying for student bank account:

• If your main objective is to have an account where you can put the money that you currently have, look for an account that offer the highest interest rate.

 

• If you intend to use you student bank account for loans, look for the one that offer lowest interest rate on overdraft charges and overdraft limit that will suit your needs. Keep in mind that interest rate will apply after your graduate.

 

• Internet banking. Go with student bank accounts that offer internet banking feature especially if the bank of your choice is far from your university. This feature offers convenience and it will allow you to save time and money.

 

• Freebies. A lot of banks are offering different freebies to entice more students to sign up with them. Carefully review these freebies and pick the ones that are most appealing to you.