Local

Studies

4.5%

Interest Rate (p.a.)

2.25% of loan amount or minimum S$300, whichever is higher, is payable upon acceptance of Letter of Offer.

Processing Fee (approved loan)

All Details

• Key Features

  • Enjoy attractive interest rates

  • Apply for loan amount of up to 8X your monthly income or S$200,000 (whichever is lower)

  • Repayment period of up to 10 years

  • Available for both local and overseas studies

  • Additional financing for education-related expenses (such as accommodation fees, computer equipment, books)

  • Choose from various flexible education loan repayment plans to suit your financial needs

Loan Features

Minimum Loan Amount	S$5,000
Maximum Loan Amount	S$200,000
Maximum Loan Tenure	10 years
Interest Rate	Attractive interest rates from 5.2% p.a. (Education Loan Board Rate plus 0.45% p.a.)
Approval Duration	1 - 2 weeks

Study Location

Singapore

One-time Fee and Charges

Disbursement Fee	Up to 3 free Cashier's Orders or Demand Drafts for payment of your tuition fees
Processing Fee	2.25% of loan amount or minimum S$300, whichever is higher, is payable upon acceptance of Letter of Offer

Penalties and Late Fees

Late Payment Fee	3% + interest rate (min $30)
Partial Repayment Penalty	1% on the prepaid amount
Full Repayment Penalty	2.50% of amount prepaid or redeemed during the loan tenure. A minimum notice period of 1 month or payment of interest in lieu is required

Eligibility

Citizenship Status	Singapore Citizen or PR
Age Requirement	18 - 65 years old
Employment Eligibility	Salaried employee, Variable income/Commission based earner, Self-employed
Minimum Annual Income	Minimum income of $18,000 p.a (for local part-time studies only)
Guarantor/Collateral	Guarantor (if required) : Minimum S$30,000 annual income