Students embarking on post-secondary or tertiary education are about to face many challenges along the way. It is often the first time in their life when they're really managing their own finances. What kind of tools and services do they need?
Access to funds 24x7 is a key requirement for students whose busy routines may not allow them the liberty of visiting a branch. That's where internet banking comes in, which helps with budgeting and the managing of their finances in an easy, secure and convenient environment. Internet banking allows for easy transfers between own accounts as well as paying bills. The fact that to see one's current account balances is just a click away makes for excellent management of one's funds. Additionally, the bank's Visa debit cards are accepted in almost all ATMs around the world and can be used for shopping locally, online and abroad.
Students often find it hard to get their savings going when they have to worry about textbooks, studying expenses and enjoying their social life while on a relatively low income. How can they strike the right balance?
The right balance varies from one person to another; it is primarily a question of prioritising the various options available both in terms of saving as well as in terms of spending. While it may be difficult to set more than a few euros aside when students are still dependent on their stipend, it's always a good idea to get into the saving habit early. For those looking to get their savings going, be they small or large, we have solutions available at exclusive rates for Campus Package holders.
And what about financing their first car or furthering their hobbies? Is it possible at this stage?
It's no secret that a car is usually number one on the wish list of those turning 18. This is why we designed a specific personal loan that caters for the student's reality. Banif Campus Package holders can borrow to buy a new or second-hand car and keep their repayments low by only paying interest while they are still full-time students. The capital and interest is then repaid normally once they complete their course and start earning a regular income. As with all loans this is subject to the bank's lending criteria. This solution has been received very well by students as it helps them to buy a car or invest in hobbies such as photography or cycling, for example, so that they can enjoy an improved lifestyle while pursuing their studies.
What's the next step once they graduate?
Our aim is to accompany students through life, by offering specific products and services tailored for each individual's needs. With Banif's Graduates Package, those who have graduated from a tertiary institution in the last five years can borrow funds to start their own business or private practice, or even to further their studies. We also offer solutions at premium rates to help them save for their particular next step... whatever that may be.