Student bank account unveiled by Lloyds TSB

Fri, 10 Jul 2009

Students looking to save more money during their time at university may be interested in the new student account available with Lloyds TSB .

The product allows students to take advantage of an interest-free overdraft with tiered limits of £500, £1,000 and a maximum of £1,500 throughout the first year, along with a National Union of Students Extra card.

Mobile banking is a key feature of the student account, with alerts being sent via text to warn if they are approaching their overdraft limit as well as the ability to transfer money and check the balance using SMS.

Catherine McGrath, director of current accounts, for Lloyds TSB, said: "Many students starting university in the autumn will be managing their own finances for the first time. We have designed our student account to include money management tools to help students start out on the right footing and avoid financial problems later on."

Those heading to university this September may also be interested to know that Halifax is continuing its market-leading student account, which offers an interest-free overdraft of £3,000.
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