New Zealand has become one of the fastest-growing study-abroad destinations for students from India, China, and across the globe. With its high-quality education system, stunning landscapes, and welcoming culture, it’s no surprise students dream of studying there. But like Australia, Canada, and the U.S., studying in New Zealand doesn’t come cheap — which makes education loans a lifeline.
In this guide, we’ll explore the top study loan providers in New Zealand (2025), the options available for international students, and tips to make the loan process smoother.
Why Students Need Study Loans in New Zealand
The cost of studying in New Zealand can range between NZD 22,000 – NZD 40,000 per year for tuition, depending on the course and university. Living expenses add another NZD 15,000 – NZD 20,000 annually.
That means most international students will need financial support through:
- Loans from New Zealand banks (if eligible).
- Loans from their home country (like Indian banks).
- Non-bank financial institutions (NBFCs and online lenders).
Types of Study Loans for International Students
- Bank Loans (New Zealand) – Usually require a guarantor who is a permanent resident or citizen.
- Home-Country Loans (e.g., India) – Most Indian students secure loans before traveling.
- Private/Online Lenders – Offer more flexible terms, often at higher interest rates.
- University-Linked Financing – Some New Zealand universities collaborate with financial providers.
Top Study Loan Providers in New Zealand (2025)
1. ANZ Bank New Zealand
- Why it’s popular: One of the largest banks in NZ, offering education-related loan products.
- Highlights:
- Flexible repayment schedules.
- Discounts for students who bank with ANZ.
- Covers tuition and living expenses.
- Best for: Students with local guarantors in New Zealand.
2. BNZ (Bank of New Zealand)
- Why it stands out: Offers student-specific products, including overdrafts and loans.
- Highlights:
- Interest concessions for students.
- Easy integration with BNZ accounts.
- Good digital tools for managing loans.
- Best for: Students combining part-time work with studies.
3. Westpac New Zealand
- Why people trust it: Known for student banking packages and flexible credit.
- Highlights:
- Personal loans that can be tailored for education.
- Options for extending repayment periods.
- Student-friendly banking services.
- Best for: Students looking for strong customer service and tailored loans.
4. ASB Bank
- Why it’s solid: Offers both secured and unsecured personal loans for students.
- Highlights:
- Competitive interest rates.
- Loan calculators for transparency.
- Digital-first services for quick approvals.
- Best for: Students who want fast, online loan approvals.
5. SBI (State Bank of India) – Global Education Loans
- Why it’s great for Indian students: SBI is one of the most trusted names for international study loans.
- Highlights:
- Loan up to INR 1.5 Crore for overseas studies.
- Covers tuition, travel, and accommodation.
- Repayment starts after course completion.
- Best for: Indian students applying for universities in New Zealand.
6. HDFC Credila (India)
- Why it’s useful: Specializes in international student loans.
- Highlights:
- Repayment periods up to 15 years.
- Custom EMIs based on income potential.
- Covers full study expenses, including living.
- Best for: Indian students who need high loan amounts.
7. Prospa (Online Lender – NZ)
- Why it’s unique: Non-bank lender with flexible loan products.
- Highlights:
- Fast online applications.
- Loan amounts up to NZD 50,000.
- Transparent terms.
- Best for: Short-term funding or top-up loans.
Average Study Loan Costs in New Zealand (2025)
- Interest rates (NZ Banks): 7% – 11% annually.
- Interest rates (Indian Banks/NBFCs): 9% – 14% depending on collateral.
- Repayment period: 5 – 15 years.
💡 Example: A loan of NZD 40,000 at 9% interest over 10 years equals monthly payments of about NZD 500.
Tips for Securing a Study Loan
- Check University Tie-Ups – Some NZ universities have preferred loan partners.
- Prepare Documents Early – Admission letter, fee structure, guarantor details, etc.
- Compare Interest Rates – Look at both NZ-based and home-country providers.
- Ask About Moratorium Periods – Many lenders allow repayment to start after graduation.
- Borrow Wisely – Only borrow as much as you need to reduce debt burden later.
Final Thoughts
Studying in New Zealand is a life-changing opportunity, but it comes with high costs. Thankfully, both New Zealand banks (ANZ, BNZ, Westpac, ASB) and Indian lenders (SBI, HDFC Credila) offer tailored study loan options.
If you already have ties in New Zealand (like relatives who are permanent residents), local banks can help. But if you’re applying from India, lenders like SBI and HDFC Credila are usually the first choice.
The best loan for you will depend on your tuition fees, repayment ability, and guarantor availability. With the right loan, you can focus on your studies and enjoy your time in New Zealand without financial stress.