Interest free offer announced on the Halifax Student Current Account

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Interest free offer announced on the Halifax Student Current Account

Students in full-time education and over the age of 18 will soon be able to take advantage of a new interest free overdraft offer on the Halifax Student Current Account.

A balance of two per cent gross on credit balances and interest free overdrafts increasing from £1750 in the first year are being offered as part of a new deal on the Halifax Student Current Account.

The new Halifax Student Current Account can be taken up form August 1st and students can also benefit from commission-free travellers cheques and foreign currency as well as 25 per cent discount on AA breakdown cover.

Peter Jackson, head of the Halifax, said: "With the end of the student grant, the introduction of tuition fees and ever increasing living expenses being a student has never been more expensive."

"These increased interest free overdrafts could mean a significant saving over a three-year course of study – far better value than a record token or other gimmicks", he added.

Of undergraduates who considered dropping out of university, 34 per cent said financial difficulties were a major factor, according to a recent Financial Services Authority survey.

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