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High street bank announces new graduate finance package
Thursday, 31 May 2007
Life after graduation
Natwest has launched a new graduate finance package, which will offer a host of incentives to anyone that has graduated in the last three years.
The bank's 2007 graduate finance scheme lasts for six years and offers customers an interest-free overdraft for three years after graduation, beginning with a £2,000 limit and then halving to £1,000 and £500 in the second and third years respectively.
Other offers in Natwest's new graduate finance pack include the option of a three-year interest-free loan for those who opt to pay off the balance of their overdraft immediately. Specific Professional Trainee Loans will also allow Natwest customers about to enrol on a full-time postgraduate course to borrow up to £25,000 while they complete their professional training.
"Graduates face a number of pressures when they leave university, not least trying to find a job, so worrying about paying back student debt should not be an additional burden," said Mark Worthington, head of NatWest student and graduate banking.
"With graduation comes a new type of extra expense such as relocation, rent and a new work wardrobe, so the NatWest graduate package is designed to support graduates as they make the transition between student and working life, whilst maintaining control of their finances," added Mr Worthington.