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The Best Bank for Student Loans 2021
Date published November 06 2020 by Ella James
COVID-19: The catastrophe our time
Imagine getting ready to go to a party and your car gets crashed on the way to it. That’s how we decided to start our 2021 but were plummeted en route by the coronavirus.
It was a huge holocaust which turned all of our plans into fiascos. It took lives, mental sanity, stability and most importantly: Money away. Due to the situation of the pandemic, the economic crisis has become harsh and ruthless. From affecting the entrepreneurs to affecting the students, the entire population has fallen victim to the COVID-19.
To recover the losses and fulfil the essential needs, people are seeking for banks who are willing to lend them loans with less or no interest charged on the overdrafts, and that include students too. Geared towards meeting the requirements of the colleges and satisfying the requisite of hefty fee amounts, most of the students are hunting for banks that offer them fewer interest loans and perks of having an account in their banks.
What Is A Student Account?
Student accounts are the bank accounts that are designed for those in higher education. One difference between the normal bank account and the student’s account is an additional benefit of getting an interest- free overdraft.
To open one, you need to show the following documents:
- A confirmation letter from any university that you’re or you will be attending them.
- You need to prove your permanent residence by showing any bill or a rent transcript.
- You would also be required to show either one or two of these
- Driving license
- Birth certificates
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Best Bank for Student Loans in 2021
Are you looking out to buy dissertation UK professionals are offering related to your course but are not sure how are you going to pay for it? Don’t worry we have got your back. Following are the best banks for student loans in 2021:
Santander 1|2|3 students current account
Santander, with the motive of making a student’s life easier, offers great flexibility. It proposes an interest-free overdraft of fifteen hundred pounds if you are staying for 1-3 years. Eighteen hundred pounds for 4 years and two thousand pounds for time up-to 5 years. It means the only amount you’ve to pay after 5 years will be the figure you’ve borrowed.
If you’ve got an amount of £2000 or more in your bank account, you will also receive a monthly interest of 1% of your amount. Moreover, by using their debit card, there are a lot of options for getting discounts and cashback on retail shops.
However, only people who live in the UK permanently can get hands-on this. To get it, you must’ve got a confirmed conditional or an unconditional offer from the college.
NBS: Nationwide FlexStudent Account
In the same vein as Santander, Nationwide student account also allows a guaranteed bank overdraft with 0% interest. The bank overdraft can go till £1000 in your first academic year, £2000 in your second and £3000 in your third as long as you’re depositing £500 a term.
Natwest Bank Accounts
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Natwest offers you 0% overdraft that goes till £2000 till your second academic year. Along with the student account, it also offers you either of the following:
- 1-year amazon student membership and £10 amazon gift card
- 4-year tastecard at hundreds of restaurants
- 4 years national express coach card
All of the above-listed bank accounts are feasible for people in different situations, however, keep a check that banks are hesitant to give a huge sum of money as loans to students. Although, giving it a try won’t cause any harm.
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