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Top 5 Student Current Accounts

Top 5 Student Current Accounts

Category: Banking

Updated: 04/07/2013
First Published: 04/07/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

For many young people, venturing into higher education signals a transition into the adult world of financial responsibility and planning.

Handling finances responsibly whilst living on tight budgets and keeping up with social and educational costs, often while living away from home, can be a daunting prospect. With the right level of budgeting, however, juggling such matters can be stress free.

A range of current accounts are offered specifically to students and graduates, offering competitive credit interest and overdraft rates, with a handful also including attractive offers and incentives.

Here are the top 5 best student current accounts based on credit interest:

Provider
Credit Interest rate
Account Details
Santander International Student Account
Santander
International Student Account
2.96% gross
  • Customers must pay a £5 monthly service charge
  • Text alerts
  • Available to students aged 18 and over
  • Can be transferred to a graduate account upon graduation
  • No overdraft facility
HSBC Student Bank Account
HSBC
Student Bank Account
1.98% gross
  • Interest free overdraft up to £500per year
  • Authorised Overdraft: 0.00% EAR Variable (0.00% pm) - £1
  • Unauthorised Overdraft: 0.00% EAR Variable (0.00% pm) - £1
  • Can be transferred to a graduate account upon graduation
  • Text alerts
  • Smart phone app
Santander Student Current Account
Santander
Student Current Account
1.00% gross
  • Interest free overdraft up to £1,500 in years one, two and three, £1,800 in year four and £2,000 in year five
  • Unauthorised Overdraft: 0.00% EAR Variable (0.00% pm) - £1
  • Free 16-25 Railcard for new customers, worth up to £30. Valid for four years, allowing students to save up to one third on most rail fares
  • Can be transferred to a graduate account upon graduation
  • Text alerts
Bank of Ireland Student Current Account
Bank of Ireland UK
Student Current Account
0.50% gross
  • Interest free overdraft up to £400 in year one and up to £500 in years two and three
  • Authorised Overdraft: 0.00% EAR Variable (0.00% pm) - £1
  • Unauthorised Overdraft: 12.68% EAR Variable (1.00% pm) - £1
  • Smart phone app
Halifax 2013 Student Account
Halifax
2013 Student Account
0.10% gross
  • Interest free overdraft up to £3,000
  • Authorised Overdraft: 7.20% EAR Variable (0.58% pm) - £1
  • Unauthorised Overdraft: 24.20% EAR Variable (1.82% pm) - £1
  • Credit card limit up to £1,000 (Typical APR of 19.9%)
  • Text alerts
  • Smart phone app

Information Correct as at: 04/07/2013

What next?

Choosing the right student bank account
Student Loans – fund your course without debts
Bank Account Search - Find the best bank account for you

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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