Top International Student Loan Lenders in New Zealand


Top International Student Loan in New Zealand is sparsely populated but easily accessible, and it is among the top destinations for international students. Approximately, 46,000 foreign nationals are studying in the country either for undergraduate, graduate, or professional programs.

The country offers international students a rich learning experience, and it is quite affordable compared to places like the United Kingdom, Canada, and the United States. However, studying abroad is generally not cheap. It is for this reason why the New Zealand government and other education enthusiasts give scholarships, grants, and the likes to students who wish to study in the country.

Top International Student Loan

These financial aids are limited as such not everyone gets to be opportune to be enlisted as a beneficiary.

Those that couldn’t get the financial aids and cannot afford to fund their study expenses have the alternative of taking student loans. These loans are offered by the government, private banks, and non-bank lenders. The loans fund up to the total cost of education, as determined by your school, minus any other aid received. The total cost of education includes tuition, room and board, and living expenses.

The eligibility criteria for most of these loans are that you must be a student in any of the universities in New Zealand, have the potential income to repay the loan, and good credit history. If you don’t have a good credit score, a cosigner can be used instead. It is important to note that before getting the loan, you need to compare the interest rate, loan amount, and repayment schedule as these are the factors that the cheapness of the loan.

We are recommending the federal student loan to be the best for international if you meet the requirements. However, here are the Top International Student Loan lenders for international students in New Zealand.

  1. Study Link Student Loans

Interest Rate: Not Specified

Repayment Options: Not Specified

Loan Amount: Not Specified

This loan is being offered to domestic and international students in New Zealand by the Ministry of Social Development. The loan is to pay for students’ student’s compulsory fees charged by their education provider, study materials, and living costs. To be eligible for the loan need to be either a New Zealand citizen, or ordinarily resident in New Zealand, and have been living in New Zealand for at least 3 years, and have been entitled to reside indefinitely in New Zealand for at least 3 years.

If you have a 240 credit t score, and you are above 18, you won’t be denied access to the loan. The loan is only given for 1 year, which you can reapply in another year, provided that you meet the requirements. Study Link interest rate is the best you can get for student loans and will be charged a one-off establishment fee of $60 which will be added to your Student Loan balance as soon as any payments are made. The application is online, but you must pass the eligibility test before you will be able to complete the application process.

2. The Co-operative Bank Student Loan

Interest Rate: 6.99% to 19.99% (per annum)

Repayment Options: 6 months – 5 years

Loan Amount: $3,000 – $5,000

The Co-operative Bank is a private lender in New Zealand that offers international student loans. Its rates range from 6.99% to 19.99% per annum, and they are determined based on the borrower’s creditworthiness, loan amount, and repayment terms. The minimum loan amount is $3,000 and the maximum is $50,000 which can be repaid between 6 months and 5 years.

You must have a valid visa and be above 18 years to be able to access The Co-operative Bank student loans. It is important to know how the loan work. For instance, when you borrowed $10,000 for a 3-year repayment option, with an interest rate of 13.20% per annum, you will be paying back $155 every two weeks and a total amount payable of $12,135.

3. MoneyShop Student Loan

Interest Rate: Not Specified

Repayment Options: 3 months – 3 years

Loan Amounts: $200 – $20,000

MoneyShop is a non-bank lender that also offers student loans to international students. It is one of the quick platforms to get loans as funds can be dropped into the borrower’s account within 2 hours, provided that you meet all the requirements.

Its interest rate varies and is dependent on several factors, such as the security offered for the loan and the duration of the loan. Once these are determined, the interest rate is fixed for the term of the loan. You can borrow as low as $200 to as high as $20,000 with repayment terms of 3 months to 3 years.

4. Westpac Student Loan

Interest Rate: 8.99% – 16.99% (per annum)

Repayment Options: 1 year – 7 years

Loan Amounts: $4,000 – $50,000

Westpac is a financial service company in New Zealand that was established in 1817. It offers different financial products and services to its customers, from savings accounts and term deposits to credit cards. It is among the top lenders of international student loans in New Zealand.

The amount which can be borrowed is within $4,000 to $50,000 with an 8.99% – 16.99% interest rate per annum which can be repaid within 1 – 7 years. Its loan is unsecured which means you don’t need collateral to be given the loan, however, you must be 18 years or above, have a valid visa plus a potential means of income to be eligible.

Also Read: Mastercard Credit Card Application | Apply Mastercard Online

5. ASB Student Loan

Interest Rate: 12.95 – 17.95% (per annum)

Loan Amount: $40,000 maximum

Repayment Option: 6 months to 7 years

ASB Bank, commonly stylized as ASB, is a bank owned by Commonwealth Bank of Australia established in 1874. It is the first saving bank in New Zealand. The International student lending and banking packages of this bank are specially designed to help you settle in comfortably in New Zealand.

Borrowers can get up to $40,000 with an interest rate of 12.95 – 17.95%, which crepaypay for within 6 months to 7 years. They don’t have hidden charges for application or early repayment. To be eligible for the loan you must have an account with the bank and source of income which can be from student allowance, money from parents, or money from part-time work. The application can be done online or physically at the banking hall.

6. Harmoney Student Loan

Interest Rate: 5.35% – 29.9% (per annum)

Repayment Options: 3 years – 5 years

Loan Amount: $2,000 $50,000.

Harmoney offers international student loans in Australia as well as New Zealand. It gives borrowers the loan ranging from $2,000 to $50,000. The rate of Harmoney is competitive. It varies between 5.35% to 29.99% depending on the loan amount and repayment terms.

For instance, if you take a loan of $30,000 the rate to be charged is within 7.69% to 28.21% for five years repayment options. Harmoney offers an exceptionally quick and easy loan service. If you apply for a loan with the lender, you will have the fund credited into your account within 24 hours, given that you meet its requirements. You can apply anytime as it offers a 24/7 online service.

7. Prodigy Finance

Interest: 9.6% (per annum)

Repayment Options: 7, 10, 15, or 20 years

Loan Amounts: $15,000

This is an international online lender service that offers student loans to international students across 80 countries of which the USA, Canada, Australia, and New Zealand tops the list. Borrowers taking loans from Prodigy Finance must be seeking a graduate degree in business, science, technology, engineering, maths, law, public policy, or healthcare.

The amount which can be borrowed is limited to $15,000 with up to four different repayment schedules. Its rates are competitive and there is a 4% administrative fee on every loan. To apply for this loan, borrowers do not need collateral or a co-signer.

8. ANZ Student Loans

Interest Rate: 17.95% (per annum)

Repayment Options: 6 months – 5 years

Loan Amounts: $1,000 – $40,000

ANZ offers student loans for domestic and international students in Australia as well as New Zealand. Borrowers have the option of choosing between secured and non-secured loans. Secured loans are loans that require collateral, while non-secured loans don’t.

Student loan amount at ANZ is between $1,000 to $40,000 with a payment option of 6 months to five years. It has a very competitive interest rate, which is 17.95% per annum. The advantage of taking a loan from this bank is that if your loan is affirmed, it will be dropped into your account with 1 working day.


There are limited lenders of Top International Student Loan in New Zealand. The best student loan service is Study Link as it has been offered by the New Zealander government. Student loans are provided to help students fund their education. The top international student loan lenders in New Zealand have been listed above if you are hoping to take a loan to fund your study expenses in New Zealand soon. We hope this article has helped in providing the details of the international student loan lenders in New Zealand. Please, you can drop a comment if you have any questions regarding this article.