NatWest has launched a student account that offers a £3,250 overdraft and £100 cashback to those who sign up.
The interest-free overdraft begins at £2,000 for the first year of your degree and then increases to £3,250 over the three years at university.
As well as that handy borrowing perk, the bank will pay you £100 in cash within 10 working days of you signing up for the account and registering online or with the mobile banking app.
There is also a tastecard available with the current account, with restaurant and takeaway options available “in hundreds” of places, according to the lender.
The card lasts for four years and gives student discounts on eating out at a range of spots including Black Sheep Coffee, Dominos and Krispy Kreme.
The discounts include deals worth 25% and 50% off, with additional 2-for-1 offers that extend to cinema tickets and selected retailers across the UK.
To qualify for the account, you need to be studying full-time on a graduate course that lasts at least two years.
‘Helps reduce the cost of student life’
Jaimala Patel, head of NatWest student accounts, said: “We want to help our students get started studying and are offering a range of financial tools, a £100 [cashback], an interest-free overdraft of up to £3,250 and a tastecard to help reduce the cost of student life.”
The lender follows Nationwide and Santander in announcing its deal to entice students ahead of beginning their university life.
Much like NatWest, Nationwide is offering £100 cashback if you select it, plus £120 worth of Just Eat vouchers spread out over 12 months.
Santander revealed a competition that gives students the chance to win the value of their tuition fees. The lender is opening up a prize draw where 20 winners can take home a staggering £27,750, with a further 30 potentially picking up around a year’s worth of tuition fees – £9,250.
