Building Society’s FlexStudent account offers an £1,000 overdraft for the first year, rising to £3,000 by year five but students must pay in at least £500 per term. Another benefit includes having fee free transactions abroad.receive £500 as an overdraft for the first year increasing to £1,500 by year three.
Students will also receive 5 per cent AER/4.89 per cent gross variable interest on balances up to £500.Bank’s you can apply for an interest-free tiered arranged overdraft of up to £1,500 in Years 1 to 3 and up to £2,000 in years 4 to 6. Andrew Hagger, Personal Finance Expert for Moneycomms, said: “Seriously consider a student bank account that comes with the largest interest free overdraft – some banks may only offer £1,500 or £2,000 but HSBC and Nationwide are both offering up to £3,000 from year three.
Fantastic, a lifetime of debt awaits.