Most banks are also offering students a sign up bonus of £100.
Students in Scotland received their exam results last week and with the new academic year just around the corner, experts at Save the Student have shared the best bank accounts aimed at teens for 2024/25, with many offering a free cash incentive to join or an interest-free overdraft of up to £3,00.
Tom Allingham, Save the Student’s student banking expert, said: “This year’s selection of student accounts is particularly strong, and the majority of banks are offering some kind of sign-up bonus to draw in new customers. He continued: “That said, you should check whether an overdraft is guaranteed, or if it’s ‘up to’ a certain amount. For example, while NatWest and RBS offer the largest overdrafts on paper - and anecdotally your chances of getting the maximum amount are fairly high - it’s not a sure thing. On the other hand, Santander has said all students will get the full £1,500, while Nationwide guarantees £1,000 to all first-year students.
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