If you’re a full-time student deciding between stashing your cash in paper bag under your bed or putting it in a bank, we suggest the latter. One account you may want to consider is the Suncorp Everyday Options Student account.
This account comes with a stellar 1.40% interest rate. Just keep in mind that to qualify for this special rate you’ll need to make sure you transfer money from your main account into one of the nine linked Everyday Options sub-accounts.
A bumper interest rate on a everyday bank account? Well, surely the account has fees? Nope, not only can you earn a little extra through interest, but you won’t be losing any money each month by having to pay account fees.
The account also allows you to use and access your money in a number of ways: in-branch, over the phone, on the internet and more, all for free.
Who it's good for:
No need to overthink this one, students are going to benefit from this account most; as well as being the only ones who can get access to it - you’ll need to show your student card each year to keep the account open.
Not the biggest catch as it’s pretty common among everyday bank accounts, but if you decide to use this account to make overseas purchases, you’ll be charged 3% foreign exchange commission. Also, if you get money out of an ATM internationally, you’ll be charged a $5 overseas ATM fee.