If you have a sizeable debt then it is best to choose a graduate account with the longest lasting interest-free overdraft.

Those who are debt free (not including student loans) should still choose an account which has an interest-free overdraft facility in order to invest this money to profit from the interest.

Some accounts charge a fee for interest-free overdrafts, but there are enough high street banks offering this for free. Double check the small print, as Barclays charges £5 a month just to hold a graduate account.

If you have a Halifax or Bank of Scotland Student Account stick with it. All student accounts are automatically given an interest-free overdraft of £2750 for the first year following graduation. Once that year is up, you can then transfer to the next best graduate account or 'normal' bank account.

The Royal Bank of Scotland and Lloyds TSB both offer a 3 year interest-free overdraft of £2750. Lloyds state that the size of this overdraft is guaranteed while RBS decide theirs on a case by case basis.