The Halifax is weighing in to the student bank account market with an offer that includes a GBP3,000 interest free overdraft, reduced cost card insurance and discounted AA membership.
An important aspect of this offer from the Halifax is that the overdraft is valid for up to five years, giving students a full year after graduation to find employment and be in a position to pay off the borrowing. Account holders will also find that, should they be in credit on their account the Halifax will even pay them interest of two percent.
Management of the Halifax student account can be done through branch, phone or online, making it easy for students to access and manage their finances at any time.
,p>The Alliance and Leicester current account offer that has a credit interest rate of 8.5 percent gross is being extended until the end of September according to a recent announcement.
The move has been made to encourage more consumers to save regularly, the high interest rate being a real eye catcher designed to highlight the benefits of saving. The accounts that are included in this Alliance and Leicester promotion are the Premier 50 and Premier Direct current accounts.
Younger savers also have an extension on their own promotion. The Alliance and Leicester Premier 21 account is a current account specifically for those aged between 16 and 21 which is offering a 10 percent interest rate during the promotional period.
The Prime Minister, Gordon Brown, apparently told the people of the UK that Northern Rock could be sold for a profit in the future while his own advisors had said otherwise.
Gordon Brown had stated in a press conference in February that Northern Rock could be sold for a profit when the financial markets had recovered, though the advisors brought in to look at the options for Northern Rock had said a GBP450 million loss was the best possible outcome, with the most likely result being a loss of GBP1.28 billion. This figure was based on stable house prices, so in the current climate the loss is expected to be even greater.
The Treasury has stated that its purpose in buying out Northern Rock was to stabilise the bank and also the rest of the financial sector, not to make a profit. However Mr Brown should not have misled the public by saying a sale would generate a profit. Oh to have an honest politician, we can but dream.
