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Be it a domestic student or an international student, and education is expensive in the UK. If you are a student in the UK, it will be better for you to open a student bank account to help you with your money management. Moreover, choosing a student’s performance is often confusing, primarily when several banks provide the schemes. If you want to open a student’s account but can’t decide the best bank to move forward with, this article is for you.
Awareness before opening a student’s account
Before we jump into the banks with the best students’ accounts, it will help determine how to look for them. There are plenty of banks offering several things to you, primarily free products, discount coupons, etc., to make students open accounts in their bank. Well. It can be a trap, and you should not fall for this.
Before you open your students’ accounts with a bank, ensure you know their repayment conditions. Even better if you know your credit rating. Always look for the most extended overdraft because a student’s account is the way you can borrow money and pay what you borrowed with no extra charges or 0 interest rates.
Sometimes students who don’t need a student’s loan take advantage of borrowing money to pump up their savings account. Since they don’t have to pay any interest rates for the loan amount, it gets more comfortable to repay.
Documents required to open a student account
Someone willing to open a student’s account must carry their vital documents. All banks have the exact requirement of records for this. Suppose you want to open your student’s account. It will help if you to carry any two of your photo ID proof such as passport or driver’s license, utility bills, or any bank details for address proof, and a letter from your university authority as proof of your student status.
List of best banks in the UK for opening a student’s account
- Santander
- Lloyds
- HSBC
- Nationwide
- TSB
- RBS
- Halifax
- Barclays etc.
Conclusion
Several banks offer student accounts. All the names mentioned in this article have the best plans for a beneficial student account. However, the conditions and loan limit might vary from bank to bank. It will help if you go through the loan amount of these banks and determine which bank fulfills your requirement and open your student account.
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