Compare Student Current Accounts

Type of current account

Santander

1|2|3 Student Current Account - Student 16-25 Railcard

Eligibility

UK resident.

18 years old.

Studying a minimum 2 year full-time undergraduate course or level 4 to 7 apprenticeship.

Account Extras

Four year 16-25 Railcard

Up to 15% cashback with select High Street retailers

Free Overdraft Amount

Up to £2,000 interest and fee-free arranged overdraft

Interest Rate (AER)

3.00%

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3% interest AER/2.96% gross (variable) on balances from £300-£2,000. Overdraft - Up to £2,000 interest and fee-free arranged overdraft (up to £1,500 in first 3 yrs and up to £2,000 in 4-5 yrs).You pay in at least £500 per academic term. You’re studying or are about to begin an undergraduate course that is at least 2 years in length, or level 4 to 7 apprenticeship.

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Compare Student Accounts

If you’re currently in full time education as a university student, there are often several benefits you can make the most of such as discounts, rewards and freebies. In terms of personal finance, there are current accounts that are specially designed for students to help them deal with their finances while studying.

Student accounts often come with certain perks that apply to students, making it easier for them to deal with their finances while also studying a university course.

What is a student account?

A student account is simply a standard current account provided by a bank or building society, but with perks available just for students to help them handle their finances while studying. They are exclusively for students and often include an interest-free overdraft facility to assist with living expenses, tuition fees and any other associated costs.

You might also receive a particular incentive for opening the account that appeals to a student, along with a number of rewards or discounts off everyday expenses, such as a rail card if you need to commute.

What is the best student account available?

Since many student accounts are quite similar, it’s worth comparing them in terms of the perks you get and the additional features you are entitled to as the account holder. They include:

Interest-free overdraft – the most important aspect of a student account is perhaps the limit and length of your interest-free overdraft. Just beware that your large overdraft will still need to be repaid when you stop being a student!
Freebies – banks will often throw in freebies such as an Amazon gift card, or even free subscriptions to services such as Apple Music or Spotify
Discount cards – you might also be entitled to discount cards such as NUS Extra, but you can also get travel cards such as a railcard or National Express card. These will come in very handy if you’re going to university far away from home

Can I get a student account?

Whilst you obviously need to be in education to apply for a student account, different account providers will have their own rules for who can apply.

Some banks require you to be a university student enrolled in a full time course only. That means if you’re studying part time, unfortunately you won’t be eligible to apply for student account. However, there are some who will accept full-time and part-time students, so it’s definitely worth checking before you apply.