Halifax to offer generous student finance package

Halifax has announced that it is to offer a generous student finance package to those heading to university for the 2011/12 academic year.

The deal will see student account holders offered interest-free overdrafts of up to £3,000, which the lender claims is a market-leading facility.

New and existing customers will be able to apply for the Halifax Student Current Account from August 18th and will benefit from having their interest-free overdraft for up to five years, plus an extra year after graduation.

They will also receive a Visa debit card and be granted access to commission-free foreign currency and travellers’ cheques.

Drivers might also be interested in the 25 per cent AA breakdown cover discount offered to account holders, while free 24-hour telephone and online banking means students should have no problems managing their finances .

“The Halifax Student Current Account continues to offer students real long term value as an alternative to up front offers,” explained Halifax director of personal current accounts Jeremy Cross.

“With one of the most generous interest free overdrafts available, the potential savings over a three or four year degree are considerable.”

Meanwhile, Lloyds TSB also announced the launch of its new student finance package this week.