NatWest launches 2007 graduate package

NatWest has launched its 2007 graduate package, which is available to students who have graduated from university within the last three years.

The package includes a host of financial benefits to help make the transition from student to graduate life as easy as possible. NatWest believes in supporting young people from student to graduate and so offers a free package that spans six years.

The NatWest graduate package offers customers an interest free overdraft for three years after graduation. This offers £2,000 in the first year, £1,000 in the second and £500 in the third year. In addition, if graduates want to pay off their overdraft as soon as they graduate, they can take out an interest free loan for three years which will give them more control over budgeting and making repayments.

NatWest also offers a specific graduate loan with a preferential rate of interest, currently 7.9% (typical APR). Graduates can borrow between £1,000 and £15,000 and can even take a four-month repayment holiday if desired. New graduates planning a trip around the world after university can even take out a NatWest graduate loan and defer repayment for up to 12 months, if they have secured full time employment on their return.

The new look graduate service also includes further benefits for graduate professionals (customers training to become doctors, lawyers etc). Customers undertaking selected full time post-graduate courses can borrow up to £20,000 at preferential rates with NatWest’s Professional Trainee Loans (up to £25,000 for specific law school courses) and don’t start repayments until their studies are complete. These graduates will also have the choice of either a branch-based personal Graduate Manager or a direct telephone relationship with a graduate money expert. Graduate customers can speak to a trained expert who understands their needs as a graduate and who can help with overdrafts, savings and mortgages. In addition, these customers have access to 24/7 telephone support for all their other banking needs.

According to Mark Worthington, Head of NatWest Student and Graduate Banking: “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. 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.”