If you're too busy studying to go to the bank, bring the bank to you

If you're too busy studying to go to the bank, bring the bank to you

27 February 2008

Tertiary studies can mean two things for your finances: no time to manage them, and not enough to go around. Between paying your student loan, fees and textbooks, your finances are taking enough of a drain without needing further strain from monthly account keeping fees. If this sounds like your situation, an online savings account may be something to consider.

Whether you want a fee free account to deposit the savings you have into, or just want to keep the most cash you can, an online savings account provides a very effective mean of student finance management. You could even get ahead of your student loan payments by depositing the money you intend to pay you HECS-HELP fees with ahead of time, and earning interest on the amount to help pay off other debts.

Here at Student Loan, we have a great range of online bank accounts, just as convenient to apply for as they will be to manage. The RaboPlus Online Savings Account could see your savings rocketing up in value before your eyes. With interest calculated daily and paid to you monthly, whatever money you can keep in your bank account will reward you with a 7.15% p.a. return. With no minimum balance, you won't be penalised when you urgently need that last bit of cash at the bar with your friends.

If you're in your last days of study and want to maximise your possible savings before going out in the world, the BankWest Telenet Saver offer a high 12 month variable introductory rate of 7.50%. After 12 months, you'll still be on a high rate of 7.0%, and with the money you'll have made in the first year, you'll have a financial head start on your classmates.

There are many more excellent online bank accounts for students at our online banking page at Student Loan.

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