Now that you are going to the US for your education, you must be wondering – how will I spend money when I get there? Do I need to take cash with me? Which bank should I open an account with? How much will that bank charge me? Will the bank accept Indian students?
All these worries have existed in every Indian student’s mind. And rightly so. Banking is extremely unfair and difficult for international students in the US. It’s just not easy!
So now that there is a new service for international students, such as Indian students, we must recommend it: North Loop.
North Loop is the best bank for Indian students in the US (and an international student). They don’t require a social security number for your account, so you can actually sign up before you come to the US. It’s a digital bank, which means that you download the app and have a bank in your hands 24/7. Even the account opening process is done in minutes through the phone.
The account is FDIC insured (which means the US government is ensuring your money so it’s 100% safe) and their VISA debit card means you have the latest anti-fraud technology protecting your money. Most banks charge $10 per month for an account, but they charge nothing – it’s completely free (finally!). They also don’t charge any incoming wire fees, which can save you hundreds of dollars every year.
One innovative feature I found was that you can lock your card when you can’t find it, and then just unlock it when you have found it! This way you don’t need to re-order a new card and wait for it in the mail.
For many students in India, the question will come up: how do I get a loan for my studies. North Loop provides no-cosigner, no-collateral education loans to students from India for extremely low-interest rates. All you need to do is apply for a loan on their website – it takes 5 minutes and is extremely simple (and no supporting documents needed for the application!).
You can sign up here: www.nolobank.com