Repaid over a maximum of 10 years, depending on age of applicant
Bank of St Helena’s newest lending product is now available for students between 18 and 21 years with a confirmed university placement within the United Kingdom. The loan will provide finance for cost of living whilst undertaking their studies and will be available to students in a joint venture with a guarantor (e.g. a parent or guardian, or a sponsoring business).
The loan must be secured, it will be secured by being held jointly with a guarantor, as well as physical security. The maximum loan of £5,000 can be borrowed for each year of study, and up to a maximum of three years, total borrowing over a three year period is £15,000. The loan amount approved will depend on the applicants ability to afford the calculated repayments. The loan will be repaid over a maximum of 10 years. Interest will be charged at 6% per annum.
The loan can be paid back in one of two ways:
For details of loan calculations and repayment options, please contact our Lending team using the contact information below.
| Application Processing Fee* | £10 |
| Administration Fee | £40 |
| Cancellation Fee | £10 |
*To be paid on submission of application
With Parent or Guardian:
Customers making an application must be a Bank of St Helena account holder. What is needed:
Upon receiving an application for a Student Assistance Loan our Lending team will ensure that all the necessary documents are present and that the application form is completed in full.
With a Business or Organisation:
Customers making an application must be a Bank of St Helena account holder. What is needed:
Need help completing your loan application form? Please contact the Bank’s Lending team using the contact information provided below.
Personal loan processing can take between 3 – 4 weeks (15 – 20 working days).