Asked on 18 Oct 2018
I managed to save up a bit over my uni days however it is not sufficient for me to pay off the bank loan in one lump sum.
Your income would be the main source of your repayment for the loan, which should be your priority rather than investing into high risk products. It might take some time to fully pay off the amount, but surely you will get there so don't give yourself too much pressure. If you think your parents might be able to lend you a lump sum, have a talk with them and work out a plan on how you will pay them back this amount over a couple of years.
I would suggest paying off your loan asap before you even attempt to start to invest. This is because all investment have risk and i'm sure you do not want to delay your loans just because you have put too much money into investment and it is not making and profit.
As always, all investments carry risks and the returns are not guaranteed as compared to your study loan's interest. Therefore, you should try to clear off your loan asap before beginning investing and only invest with money that you can afford to lose.
Unless you can be sure that your investments can yield more than the 4.75 loan interest, I would suggest you just pay off the loan first, then think about investing!
I would prefer paying finish the loan first. Because the loan interest is guaranteed. Investments that are guaranteed pays like 2%-3% interest which i dun think is more that your student loan interest. Investments that have more interest than your student loan are not guaranteed. So my opinion is to finish paying the loan first and then start investing. Be frugal and pay finish debt as fast as you can so that it wont get more expensive.