Best Student Bank Accounts
With food prices increasing over 10% in the past year alone and interest rates going up too it’s a testing time for everyone. In our last blog, Making The Most of Your Student Discounts we highlighted many places that offer great deals for students.
But, what about your bank account? Not all banks are the same and some offer accounts that are specially designed for students. There are 0% overdrafts on offer, rail cards up for grabs and even cash incentives so it really does pay to shop around. Here are a few of our top picks.
HSBC Student
£100 cash incentive just for opening an account. You just need to spend five times on the debit card in the first 30 days to qualify. This account also offers a guaranteed £1,000 interest-free overdraft in year one, £2,000 in year 2 and £3,000 in year three.
Nationwide FlexStudent
Again, up to £3,000 interest-free overdraft phased in over years 1,2, and 3. They also pay you £100 cash incentive for opening the account which is paid within 14 calendar days of you paying in at least £500, which you must do by the 16th of December 2022.
RBS & NatWest
Both banks offer an £80 cash incentive and a 4-year tastecard, (worth £39.99 per year) which gives you up to 50% off in many restaurants. They also offer an interest-free overdraft up to £2000 (£500 in your first term) with an instant online decision.
Santander 123
With this account you get a free 4-year Santander 16-25 Railcard (normally £30 per year) to save 1/3 on rail travel anywhere in Great Britain. An interest-free overdraft of £1,500 in years 1-3 of university, £1,800 in year 4 and £2,000 if you stay on to year 5.
Obviously, this list covers some of the best student bank accounts available at the time of publication but as offers change quickly we recommend checking their individual websites out for yourself.
We hope this blog, ‘Best Student Bank Accounts’ has been of some help and if we can help with your student accommodation in Sheffield please get in touch.
