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Student Overdraft = free money? watch

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    • Thread Starter
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    If a student overdraft is interest free, couldn't I just use one and put the overdraft funds in a savings account? Would this mean that I'd be able to get a few quid for free?

    :mwuaha:
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    Hmm, I see what you're getting at. i.e. claiming the interest that the overdraft would generate in a savings account and paying it back at the end.

    Would be interested to see why this wouldn't be possible... :holmes:
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    Yes, you could but with savings rates the way they are, for the interest on a few grand, its hardly worth the hassle. I have done the same with interest free credit cards. Managed to get about £15k interest free through those.
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    http://www.moneysavingexpert.com/cre...h-credit-cards
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    I mean you could but remember any money you make/get from a loan would go into paying off the overdraft so you'd just be in your overdraft for a very long time =S
    • Very Important Poster
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    Yes, but not worth the hassle.
 
 
 
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