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Best student overdraft to get?
Former Member
Posts: 1,876,323 The Mix Honorary Guru
im currently with hsbc, but i dont know whether or not they are particularly student minded with their accounts. i start uni i september and would like an overdraft rather than a loan, any idea which is best? ive heard natwest are good? and halifax intrieges me because they offer a 3 grand overdraft....
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Once I qualify and finish uni I have three years to pay it off and it's interest free for them three years.
I've not had any problems with it, easy enough to increase my overdraft limit too.
ETA: I'm not entitled to a student loan so thats why I got a student overdraft
I have an HSBC student overdraft and i overall found them to be good and reasonable - for example extending for no fee when my student loan got delayed (due to my university being closed because of a sit in). Even though i worked for a year and then went back to being a student the put my interest free overdraft up with no questions asked. Mind you that was a fair few years ago and on the whole i was a very good customer so things might have changed a bit.
do what shyboy said, it makes sense if you can. Most people are hand to mouth at uni. i know i pretty much am.
As far as overdrafts go, natwest and halifax are best.
Same as me :yes:
The only reason I now live in my overdraft (well into it) is because I lived in halls in my 1st year and that ate up most of it. I had to get my overdraft about 4 months into my 1st year as my rent cost most of my bursery. Now I am back at home I cope better with just the bursery and when I had a part time job it was a bonus!
yeh the bursury covers the cost of rent doesnt it? and then all tuition fees are paid for? (talking about nursing course)
so all thats left to pay for is the cost of living? therefore surely it wouldnt matter how high an overdraft i got because it would be the only debt i would have?