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STUDENT ASSISTANCE LOAN


Interest Rate: 6%

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:

  1. Repayments of interest only during the student’s years of study with repayment of capital and interest commencing once the student completes their studies
  2. Repayment of interest and capital from the outset.

 For details of loan calculations and repayment options, please contact our Lending team using the contact information below.

Lending Fees & Charges – Student Assistance Loan
Application Processing Fee*£10
Administration Fee£40
Cancellation Fee£10

*To be paid on submission of application

Ready to Apply?

With Parent or Guardian:

Customers making an application must be a Bank of St Helena account holder.  What is needed:

  • Fully completed application form and a signed bank transfer to cover the application fee of £10
  • Pay slip

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:

  • Fully completed application form and a signed bank transfer to cover the application fee of £10
  • Copies of Tax Registration Certificate
  • Copies of Company documentation
  • Year End Accounts for last Financial Year

Terms and Conditions

Apply for a Student Assistance Loan Online

Download Student Assistance Loan Application Form

With Parent or Guardian

Download Student Assistance Loan Application Form

With Business or Organisation

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).

Contact Us

(+290) 22390

personallending@sainthelenabank.com