You can borrow up to £11,836 with an English postgraduate loan for a Masters starting in 2022-23. This amount was £11,570 for the 2021-22 academic year.
The money will be paid directly to your bank account to use for tuition fees and / or living costs. There isn't a separate postgraduate maintenance loan.
Payments are divided equally across your course and paid in three instalments per academic year.
33% at or near your course start date (once your university confirms your registration)
33% on the last Wednesday of the 4th month of your course
34% on the last Wednesday of the 7th month of your course
If your master course costs £7,500 and your loan is £11,836 in your bank accounts stays:
£11,836 - £7,500 = £4,336
Repayment info and more you can find at below the government website: