Anyone who is a student has little money available and has to pay attention to every single cent. The account is usually empty before the end of the month. Students can receive special conditions when it comes to opening a checking account. In addition to being free of fees, there are very accommodating options when it comes to overdrafts. This makes it easier for the student to bridge bottlenecks.
Generous credit limit
If you are a student looking for a checking account that is suitable for your life and financial situation, you should also make sure you have a generous credit limit. The interest rate offered by providers is always in the lower range. Financial institutions may also offer other discounts for students. This often requires a minimum receipt of around 300 euros per month. Then changes to the orders are again free of charge. There are also no costs for a minimum commission and the credit card. For a student who is of legal age or a trainee, these are important criteria and arguments.
Save money
With the right provider, the student can save money. For example, according to Konto.org, differences within the overdraft facility of 6.5% pa to 11.63% pa are offered. That makes a big difference if you have to overdraw the account. However, the credit interest only fluctuates between 0.00% pa and 0.05% pa, which is due to the current interest rate situation. For example, we recommend the DKB Cash checking account, which is free for students. No receipt of money is required. The free VISA card, which the student can use to withdraw money from all ATMs in Germany, is also free. There are two variants regarding interest on credit balances, once with the VISA card and once with the Internet account. The student is also allowed an overdraft facility of around 1,000 euros.
Other good providers
comdirect is also one of the free current account providers for students. There is no minimum deposit limit and no regular funds have to be deposited into the account. What's particularly great is that account management is free. After three months of active use, comdirect also grants its customer a 50 euro bonus. Anyone who is not satisfied with the conditions after a year will be given another 50 euros. The VISA card is also free and you can withdraw money from ATMs abroad for free. A custody account and a daily money account are also offered, which do not incur any fees. The Targobank is also interesting for students. It offers a free version for schoolchildren, students and young professionals. All account management is free of charge and the minimum deposit is not required. The VISA Classic credit card is included and with a certificate of enrollment the student can also save the fees for this. Cash withdrawals are also possible at ATMs with cash pools.
This is how students can save
But you should also save money because, especially when you're young, money is invested in things that won't help you in the long term. But you can save money in every area.
It starts with shopping. Today there is a large selection of cashback providers that will save you a euro or two when shopping online as well as in local stores. In the long run, a large amount of money can accumulate, which can then be reinvested in new learning materials or leisure activities.
But it's not just cashback providers that can ensure that you can save money. An internationally recognized student ID card can be far more profitable! This means that subscriptions can be obtained on average 50 percent cheaper and all products that should be purchased for the university are also around 30 percent cheaper.
Nowadays, a printer is rarely needed as processes have become more digital. But it can always happen that a term paper has to be printed out for the professor. In such cases, you don't have to buy a printer, especially at around 70 euros they are definitely noticeable at the end of the month.
It would be much better to go to a copy shop for this, as this way homework can be printed out in the city quite casually. There are also online printing services that have special offers for students.
Probably the biggest tip is keeping a household book . By listing all income and expenses, finances can be managed much better and larger items can be reduced accordingly for the next month. If you keep a budget book over the long term, you can save hundreds or thousands of euros a year.
Conclusion:
Students receive special conditions when it comes to opening a checking account. It is advisable to obtain information and facts from the comparison sites, which provide an overview of all credit institutions that offer a student account. Here the customer can quickly see which current account has which advantages and what creditworthiness is required. From the overdraft facility to the minimum deposit to the credit interest rate: the comparison sites show where the favorites are.
Are you looking for the ideal checking account for students? We reveal what is important.
