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Student Overdrafts
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Hey,
Been meaning to check this out for ages but havent got around to it so just to see if anyone here can help....
When you graduate do the overdrafts remain interest free for any amount of time or do you pay interest on them straight away? Or is it dependent on the bank as I really have no idea and figured it best to find out!
If anyone can shed any light it would be appreciated
Been meaning to check this out for ages but havent got around to it so just to see if anyone here can help....
When you graduate do the overdrafts remain interest free for any amount of time or do you pay interest on them straight away? Or is it dependent on the bank as I really have no idea and figured it best to find out!
If anyone can shed any light it would be appreciated
Post edited by JustV on
0
Comments
A) finnish uni
Drop out
C) Piss the bank off and they give you like a week to clear your overdraft
Note that pissing your bank off is NEVER a good idea.
Bopz
It is best to check with your bank, but usually as long as you stick with them after you graduate they will have a graduate plan...
I know with HSBC your interest-free overdraft is gradually reduced by, say, £500 a year, and if you go over this amount, as long as it is authorised you will be charged a small interest rate on the surplus.
That's student loans...don't think it's the same with overdrafts.
Yeh thats the loans, and they add interest onto student loans the day you leave! You have to start paying it back as soon as you earn over £10k.
But for overdrafts...I'm with Natwest and they changed my student account to a graduate one. Not sure how long it remains interest free for but I graduated about 1.5 years ago and it's still interest free!