UK Money News
4th August 2008
Abbey targets students with new account offer
Abbey has launched a new student account which aims to help holders manage their debts more effectively.
Among the features of the account is a stepped interest free overdraft, which increases annually, with first, second and third year students entitled to go overdrawn without incurring interest by £1,000, £1,250 and £1,500 respectively.
Students taking a four and five year course, meanwhile, can dip into the overdraft by up to £1,800 and £2,000.
The account also pays interest at four per cent on in-credit balances of up to £500 throughout the holder's time at college.
Steve Shore, director of Abbey Banking, commented: "Going to university is exciting but can be a difficult time when it comes to finances.
"This is why our new student account has an interest rate of 4 per cent for balances up to £500 as well as a generous interest free overdraft which increases over the time you spend at university."
Students who sign up for Abbey's offer will be given a one-off cash payment of £50.
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