Moneynet.co.uk offers tips for student banking

Tue, 28 Jul 2009

Those hoping to get the grades needed for a place at university in September have been offered some tips on how to make the most of their money while studying.

It recommended accounts with interest-free student loans from Halifax, Barclays or Royal Bank of Scotland as opposed to products which offer flashy gimmicks such as small cash back offers or "shiny new gizmos".

Avoiding a student credit card is also advised as interest rates can go up to 20 per cent APR and unless the funds are there to pay it off then it will make the already tight budget even more so.

Andrew Hagger, PR and communications manager for Moneynet.co.uk, added: "Budgeting is vital, work out roughly what you're going to spend each month and try to stick to it. Don't get carried away and blow all your money in freshers week ."

Lloyds TSB recently announced a student bank account which allows customers to take advantage of an interest-free overdraft along with a National Union of Students Extra card.
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