In brief...: Abbey offers students £50

Aug 8 2008

Money

Abbey has unveiled its new student bank account which offers an incentive of £50 cash and four per cent interest on balances of up to £500 while at university.

The account, available from mid August, features a stepped interest free overdraft, which offers £1,000 in year one and rises to £1,500 in year three.

Agreed overdrafts above the interest-free limit incur an interest rate of 9.9 per cent, with no fees.