Northern Bank Postgraduate Funding Loan

Good:
You will only have to pay the interest whilst you are studying (maximum of 30 months)

Bad:
A guarantee or indemnity may be required, this may incur an additional fee

Verdict:
Only available to Northern Bank customers who have recently confirmed a place on a Postgraduate course - lowest interest rate loan of it's type on the market

This loan, by Northern Bank is specifically for Northern Bank current account customers. If you have recently confirmed a place on a Postgraduate course and you need some money to pay for the tuition fees, this could be a good option for you. You should apply within the first month of registration for your postgraduate course and as soon as your receive your letter offer from your chosen university, they can set up the loan.

You can borrow £1,000 plus for up to 5 years. The APR is extremely low which makes it a very competitive loan. You can only apply for this loan is you are undertaking a Postgraduate course and you have had your place confirmed. A guarantor or indemnity may be required for this loan - this means you will have someone that will promise to make the repayments if you do not make them.

While you are studying, you will pay interest only. After 30 months, payments will increase to cover the loan amount borrowed, so essentially you will have the loan for 90 months. Also, with this loan, you are able to make overpayments and lump sum repayments without being charged extra. You can begin the application by completing the form on their website (someone will contact you after receiving it), you can apply over the phone but the quickest way is to apply in a branch. If you apply in one of their branches, you can get the loan within 24-48 hours. If you apply over the phone, it can take up to 5 working days.