Student savings account
If you are a student, after spending long hours over the books the most important is to go have some fun with your friends, attend parties and enjoy your youth. Fun and party is a good thing, but don’t forget to pay some attention to your financial situtation and some savings for the future.
When you’re over 18, you have your own way to go, and this is true on managing you budget as well. Almost every one of the banks over student savings account to their young clients, it is always good to get loyal clients at the youngest age possible. These types of accounts usually suit to a student trying to minimize the costs of managing their money.
In order to open a student account you usually have to deposit a minimal amount (for example €5 to €15) and you have a set balance, above what your money starts to earn dividends (€20 to €100). The general services common with a bank account such as money withdrawal, online banking services, checks or a debit card are usually free of charge or have minimal costs.
A savings account differs from a regular one in a way that it pay interest. In case of student savings account interest is usually payed on a quarterly or a half year basis, or after a set amount on the account.