HSBC has launched a new banking service for graduates.
The account offers UK customers with an interest-free overdraft of up to £1,500 in the first year after graduation and £1,000 in the second year.
HSBC has also provided internet fraud protection for customers, which the company states ensure that users will not be charged for internet transactions on a debit or credit card.
Also provided is a credit card with no annual fee with up to eight weeks interest free credit if balance is paid in full and on-time.
Mortgages will also be available to customers of the banking service, of up to 100 per cent loan-to-value to a maximum of £250,000 which is available for five years after graduation.
Users also have the option of taking a graduate personal loan of up to £25,000 at a typical rate of 14.9 per cent, which is also available for five years after they graduate.
Graduates leaving university this year face an average debt of £13,500 and accounts with interest free overdrafts can be vital to help make the transition from being a student, the Telegraph recently reported.
New banking option for graduates
New banking option for graduates
Mon, 03 Jul 2006
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