Students opening a current account with the Halifax can potentially get a 0% overdraft up to £3,000 in each year of study.
This is the best overdraft deal I’ve seen this year. Most of the other banks offered tiered amounts, increasing each year. So they generally don’t offer 0% on £3,000 until your third year.
Whatever you do, make sure you don’t go over your overdraft limit, as you could then face hefty charges for dipping into the red without permission. Student account perks
Each year banks try to lure students in with student bank accounts offering a range of perks or benefits such as railcards, coach cards or discount cards. They do this in the hope you’ll end up being a customer for life.
But for many students, access to the biggest 0% overdraft will be the most important thing while they’re at uni. If this applies to you, Halifax is the account to go for.
Bear in mind that overdrafts are subject to status so £3,000 each year isn’t guaranteed.
Halifax student account The Halifax student account offers: • As above, an interest-free planned overdraft for the length of your course plus an extra year after you graduate, up to a maximum of six years. • A contactless Visa debit card. • Free mobile text alerts for balances, limit and recent transaction history. • Cashback when you spend once registered for Online Banking and you've activated Cashback Extras. • Credit interest on any credit balance at 0.1% AER – not amazing but just about better than nothing.
sounds like a feck,drink,girls scenario to me so heat.
whw
31 Jul 171#2
Perhaps old Jeremy will pay this off at the end.
eatmorefish
31 Jul 178#3
Don't get into debt kids. Just don't. Very few manage to pay it off as planned. Its just one more way you are being scr3wed over by the older generation.
Master.G to eatmorefish
31 Jul 174#4
What! So i'm to blame for the younger generation spending what they don't have? How about taking responsibility for your actions. Or is that an outdated concept, like holding doors open, giving up your seat and rickets?
winchman
31 Jul 171#5
Going to uni was free, now its not. Everyone paid through their tax, now they don't, meaning in theory your tax bill is reduced. Obviously its not quite that simple as some will never pay off their student loads, there are more students than there ever used to be, but in principle, you are paying less while they will be paying more. So there is an argument to be had that the older generation need to do exactly what you suggest, take responsibility and take that debt off current students and pay more tax!
As it stands, there are many who get free Uni and are now not having to pay for it.... how is that fair?
Master.G
31 Jul 171#6
Uni was free when few people went there. When you got in on merit. Now it has been opened up to everyone, the universities have to fund all those extra places somehow. Is it fair that those who go straight from school into work should fund those who get further education and, therefore, have a better chance of getting a higher paid position? As you rightly point out, very few will repay the loan anyway so it still comes out of general taxation. They only pay 9% of earnings over £21k so borrow £50k, earn £31k and pay £900pa. Borrow £1 billion and earn £31k and still pay £900pa. And then it's written off after 30 years. The amount of interest is therefore irrelevant. Nice if you can get it.
spyro123
31 Jul 17#7
The young people should maybe blame the government and stop using old people as scapegoats.
Two houses and three company pensions thank you. Yes i borrowed, and i worked hard to repay every single penny at much higher interest rates than today. The BOE base rate was 15% in the 80's. I don't recall blaming that on my parent's generation.
eatmorefish
1 Aug 17#9
If lenders don't take responsibility,what happens? We have been living with the effects of reckless lending since 2008.
Somehow you expect 18 year olds to have inate fiscal responsibility, while bankers in their 40's, 50's and 60's lend with wanton abandon in the knowledge that the tax payer will pick up the tab should things head south.
Your viewpoint is touchingly naive, out of date, contrary to all evidence, and depressingly widely held amoung the generation which caused these problems.
benfisher1991
1 Aug 17#11
Tbf though houses were much much cheaper Vs average income at that time in comparison to now.
malm
1 Aug 17#12
Talk about serious posting here,grab the money guys and live a little, life is short.
Gabi
1 Aug 17#13
It all equates to higher taxation for the next generation ie tax,NI and student loans repayments. Good deal though. But play the game perfectly and read the small print. Let us not forget student loans used to be interest free or at a very low rate until the government sold the book to a US company. :confused:
Master.G to Gabi
1 Aug 17#14
Let us not forget that most of those debts will be written off after 30 years, before the capital element has been repaid. The interest rate, therefore, is irrelevant.
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Opening post
This is the best overdraft deal I’ve seen this year. Most of the other banks offered tiered amounts, increasing each year. So they generally don’t offer 0% on £3,000 until your third year.
Whatever you do, make sure you don’t go over your overdraft limit, as you could then face hefty charges for dipping into the red without permission.
Student account perks
Each year banks try to lure students in with student bank accounts offering a range of perks or benefits such as railcards, coach cards or discount cards. They do this in the hope you’ll end up being a customer for life.
But for many students, access to the biggest 0% overdraft will be the most important thing while they’re at uni. If this applies to you, Halifax is the account to go for.
Bear in mind that overdrafts are subject to status so £3,000 each year isn’t guaranteed.
Halifax student account
The Halifax student account offers:
• As above, an interest-free planned overdraft for the length of your course plus an extra year after you graduate, up to a maximum of six years.
• A contactless Visa debit card.
• Free mobile text alerts for balances, limit and recent transaction history.
• Cashback when you spend once registered for Online Banking and you've activated Cashback Extras.
• Credit interest on any credit balance at 0.1% AER – not amazing but just about better than nothing.
If you don’t need an overdraft…
Check out student accounts offering perks. The best I have seen for 2017 so far are:
Santander 123 – free four-year 16-25 Railcard which gives you a third off most train fares.
HSBC – £60 Amazon gift card and a free year of Amazon Prime.
Happy studying kids!
14 comments
As it stands, there are many who get free Uni and are now not having to pay for it.... how is that fair?
There are certainly signs of unrest:
https://www.theguardian.com/commentisfree/2017/jul/31/democracy-dying-people-worried-putin-erdogan-trump-world
Somehow you expect 18 year olds to have inate fiscal responsibility, while bankers in their 40's, 50's and 60's lend with wanton abandon in the knowledge that the tax payer will pick up the tab should things head south.
Your viewpoint is touchingly naive, out of date, contrary to all evidence, and depressingly widely held amoung the generation which caused these problems.