Students often need financial assistance to cover educational expenses, and banks offer various services tailored to their needs. Student loans provide funds that can be repaid over time, allowing students to focus on their studies.
On TD banks website, students can go underneath their student related articles to find tips related to their financial needs for free. They offer advice on a variety of things ranging from creating a bank account to budgeting which can provide valuable information for those who need help.
This is similar to a student loan as students borrow money from the bank and pay back interest while in school and the bulk of the loan after they graduate. This can allow students to receive funds for their education or other needs/wants they may have. Students also can develop their creditworthiness and personal financial management skills.
Online banking helps an individual's ability to manage their finances such as bank accounts, pay bills, receive statements etc. For students this would allow them to use this for personal financial management and provide easy and free access to a variety of amenities to ensure they spend responsibly and are organized
For students, credit cards offer an efficient solution to paying for needs/wants which they can pay at a later time. The credit card we believe is the best for students is the TD Cash Back Visa Card which has a spending minimum of $500 and has no annual fees but an interest rate of 19.99% on purchases and 22.99% on cash advances. This can benefit students as it can help improve their credit score and teach them the importance of financial management.
Savings accounts allow for the safe and responsible storage of money that a student might need in the future. Students can collect interest on their savings of up to 0.10% per day which can help grow their cash, without facing monthly charges. They can set up automatic deposits from sources such as a job or parents. This type of account can benefit students as they can save for specific goals/expenses such as tuition, vacations, a car etc.
Specially designed for post secondary students, it is chequing account with no monthly fees and 25 free transactions to ensure students spend responsibly. Every transaction over 25 costs $1.25 per transaction and paper statements cost $2.00. Students could benefit from this service as it offers a no cost option to having a chequing account which allows them to pay for transactions that are may cost a substantial amount such as course books.