Top banks for student loans

Not all banks are alike. Some want to only attract high earners, while others think about the future and are happy to take on students and graduates. The top banks for student loans might surprise you.

Personal loan

The sort of loan we’re looking at is a personal loan rather than the government-backed student loan. Before you take out this type of loan with any bank, get the student loan. It’s way cheaper in the long run. We’re now working on the assumption that you’ve had the student loan and you’re looking for something to top it up. The following might be of interest as long as you can afford the repayments.


These guys lead the way in terms of low APRs. One of the market leading loan rates is the one offered by Sainsbury’s. You can get a 4.4% representative APR from these guys. Marks and Spencer are another well-known brand offering great loan rates. If you’re looking at borrowing between £5,000 and £7,500, you can get a 4.5% rate. If you’re looking for more cash, you’ll get a better rate. Tesco offer a 3.4% APR for loans between £7,500 and £10,000. You’ll also get similar rates from their rivals Sainsbury’s (3.5% APR) and Marks and Spencer (3.6% APR).

Online banks

You’ll also find great deals with guys like Cahoot. Visiting cahoot.com is worth your while as they offer something in the region of 4.5% APR.

Peer to peer

This is another idea for those who want to make their money go as far as possible. Checking out zopa.com could lead you to a great deal. Rates as low as 4.3% APR are commonly given through these guys who manage every part of the transaction for you so you don’t need to be a qualified accountant to use their site.

Short term loans

You're other option is to consider a short term loan (payday loan). We've got some advice on those here.

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