Lloyds TSB Student Bank Accounts
Lloyds TSB Bank has a student bank account that should meet the needs of most students in their first year although other banks offer better deals. They are one of the few banks to offer students a credit card up front although their APR is one of the highest at nearly 20% - and this type of interest you want to avoid as student loans are virtually zero and you can take advantage of interest free overdraft facilities in any case.
The Lloyds TSB Student Bank Account
The Lloyds TSB student bank account works operates like any normal banking account and has a basic £1,500 free overdraft where other banks offer much more. The full details of their current offer are as follows:
- Interest free overdraft of up to £1,500
- Can increase this to £2,000 in your 4th and 5th year if you get that far !
- 0.10% AER on credit balances in your account
- A student credit card with a £500 balance (rate of over 19% AER)
- Fee free day to day banking
- Free NUS Extra Card, discounts with the AA, free YHA membership for a year and 35 music downloads
- Commission free foreign currency (although check the rates before you buy)
- Includes Lloyds TSB debit card
- Easy access through Lloyds TSB’s branches and cash machine network.
- unlimited online and telephone banking - for 24-hour access to your bank account
The Lloyds TSB Graduate Account
The Lloyds TSB graduate account is for people who have just left university and to help them on their way and includes an interest free overdraft of up to £2,000 with no monthly fee. The full details are as follows:
- Interest free overdraft of £2,000 on opening
- Loans of up to £10,000 at preferential rates
- Includes Lloyds TSB credit card
- 0% AER credit interest on money in your account for Lloyds TSB University Accounts
- Easy access through Lloyds TSB’s branches and cash machine network.
- unlimited online and telephone banking - for 24-hour access to your bank account
These are reasonable accounts and the one big bonus is the fee free overdraft of up to £1,500 although other banks offer better deals.