Lloyds TSB is offering new students a free iPod shuffle when they open an account with the bank.

The bank hopes to tempt new customers with the offer, which includes an interest-free £1,500 overdraft in the first three years at university, which rises to £2,000 in years four, five and six.

Additional temptations include free Youth Hostel Association membership, free cinema tickets and more.

To qualify, students must be UK residents of at least 17-years-old, must not hold a student account elsewhere and must have applied or been accepted to a full-time course of at least two years duration.

The bank warns that the free iPod shuffles will only be distributed "while stocks last".