You may download the application form by clicking here.
The maximum credit limit is 10 times of your monthly income or your unpaid course fees, capped at S$160,000, whichever is lower. Please note that the bank has the discretion to grant a lower limit which may be different from what you have requested.
Interest is computed on a monthly rest basis and is based on 365 days regardless of leap year.
Yes. There is a 2.5% one time processing fee that will be deducted from the approved loan.
Example:
Approved Loan amount : S$10,000
2.5% processing fee of loan : S$250
Disbursement amount received: S$9,750
Parents, siblings, children and spouse will form your immediate family nucleus. Proof of relationship such as Birth Certificate or Marriage Certificate is required when you submit your application.
Second degree family member can be considered, provided relevant proof of relationship is submitted.
No. Only 1 guarantor is allowed and your guarantor must be your immediate family member.
Yes, you are required to submit either Birth Certificate or Marriage Certificate to prove the relationship.
Yes, there is an admin fee of S$50 for changes of the disbursement amount after Telegraphic Transfer/MEPS has been credited.
We will process your application within 7 working days. Upon approval/decline, you will receive an SMS notification from us. Applications not accompanied with required documents or with incomplete information will result in a delay in processing.
Once your loan is approved, you will receive an approval letter to your address.
A direct credit via Telegraphic Transfer/MEPS will be made to the designated Institution’s account provided in your application.
Yes. The minimum loan amount is S$2000.
No, the loan amount will be disbursed via Telegraphic Transfer/MEPS directly to the designated Institution’s account.
No. The monthly repayment must be made via you or your guarantor's DBS/POSB bank account. You may open an account here.
The monthly instalment amount will be deducted from your designated DBS/POSB savings account. Monthly instalment will be automatically deducted on the 1st of every month.
Repayment will commence the following month after your loan is approved.
No. You are required to start your monthly repayments the month after your loan is approved.
Repayment is to be made on the 1st of every month. Kindly ensure that your Loan Servicing Account has sufficient funds before the end of each month.
A late payment fee of S$30 per month will be imposed on each overdue instalment.
No. There is no cancellation fee should you cancel the loan prior to approval. Please do note that you will still be fully liable for the processing fee should you request to cancel after your loan is approved.
No, there will not be any monthly statements. To find out the outstanding balance of your loan account, please call our hotline at 6333 0033 or 1800 111 1111.
No. Your interest rate remains as at the time the loan was approved. It will be fixed throughout your loan tenor.
No, the loan amount cannot be increased once the loan has been approved.
Click Request for subsequent disbursement to apply