Key info

Benefits

• Easy and flexible repayment options, including Interest Servicing Scheme, Partial Repayment Scheme and Standard Repayment Scheme
• Repayment period of up to 8 years
• Loan amount of up to 6 times of your monthly income
• For courses conducted in Singapore (part-time or full-time basis)
• Up to 3 free Cashier’s Orders or Demand Drafts for payment of your tuition fees

Who can apply

Main Applicant (student),

• Singapore Citizen, Singapore Permanent Resident
• Minimum 18 years of age; maximum 65 years of age upon loan maturity
• For ages below 18 years, an immediate family member of the student will apply as the Main Applicant
• Minimum income of S$18,000 p.a. (for part-time studies only)
• Pursuing a course conducted in Singapore (part-time or full-time basis)

Guarantor must be

• Singapore Citizen, Singapore Permanent Resident
• Minimum 21 years of age; maximum 65 years of age upon loan maturity
• Minimum income of S$30,000 p.a.

Key info

• Attractive interest rate of 4.88% p.a.
• Flexible repayment period of up to 10 years
• Interest Servicing scheme and Partial Repayment scheme available

Benefits

• Easy and flexible repayment options, including Interest Servicing Scheme, Partial Repayment Scheme and Standard Repayment Scheme
• Repayment period of up to 10 years
• Loan amount of up to 8 times of your monthly income
• For courses conducted in selected overseas institutions (full-time basis only)
• Up to 3 free Cashier’s Orders or Demand Drafts for payment of your tuition fees

Who can apply

Main Applicant (student),

• Singapore Citizen, Singapore Permanent Resident
• Minimum 18 years of age; maximum 65 years of age upon loan maturity
• Pursuing a course conducted in selected overseas institutions (full-time basis only)

Guarantor must be

• Singapore Citizen, Singapore Permanent Resident
• Minimum 21 years of age; maximum 65 years of age upon loan maturity
• Minimum income of S$84,000 p.a.

Key info

Benefits

• Easy and flexible repayment options, including Interest Servicing Scheme, Partial Repayment Scheme and Standard Repayment Scheme
• Repayment period of up to 8 years
• Loan amount of up to 6 times of your monthly income
• For courses conducted in Singapore (part-time or full-time basis)
• Up to 3 free Cashier’s Orders or Demand Drafts for payment of your tuition fees

Who can apply

Main Applicant (student),

• Singapore Citizen, Singapore Permanent Resident
• Minimum 18 years of age; maximum 65 years of age upon loan maturity
• For ages below 18 years, an immediate family member of the student will apply as the Main Applicant
• Minimum income of S$18,000 p.a. (for part-time studies only)
• Pursuing a course conducted in Singapore (part-time or full-time basis)

Guarantor must be

• Singapore Citizen, Singapore Permanent Resident
• Minimum 21 years of age; maximum 65 years of age upon loan maturity
• Minimum income of S$30,000 p.a.

Students must be enrolled and making satisfactory academic progress in a bachelor’s degree or post-baccalaureate program at an eligible college or university.

Loan features and benefits:

• Loans are credit-based. You don’t have to demonstrate financial need.
• Require no application, administration or reserve fees. You receive the full approved loan amount.
• Allow deferment of payments – Students are not required to make payments while in school and for six months after graduation or dropping to less than half-time enrollment.
• Allow repayment up to 15 years – makes payments affordable.

Additional loan information:

• Borrow up to a maximum $20,000 per grade level. This amount will be the lesser of what the borrower requests, program limits or school certified amount.
• Minimum loan amount is $1,000.
• Interest rates are based on borrower credit history. Rates are variable over the life of the loan. 
• .50% interest rate reduction for autopayment.
• With the help of a qualified cosigner, you may receive a better rate on your college loan.
• Cosigner release options are available.

Note: US Bank Student Loan program rules and qualifications are subject to change at any time without notice.

Eligibility

Student Eligibility :

• Indian citizen
• Secured admission to the concerned institute in India or abroad through an appropriate selection process and cleared the qualifying examination,if any

Courses Eligibility(Indicative List) :

a. Studies in India

• Graduation/Post-Graduation
• Professional courses
• Management courses

b. Studies Abroad :

• Graduation: For job-oriented professional or technical courses offered by reputed universities
• Post-Graduation: MCA, MBA, MS and such other courses
• Courses conducted by CIMA, London, CPA, USA., and such other institution

Expenses Considered For Loan

• Fee payable to Institute/Hostel.
• Examination/Library/Laboratory fees
• Purchase of Books/Equipments/Instruments/Uniforms
• Caution Deposit,Building Fund/refundable deposit supported by Institution Bills/receipts,subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
• Travel Expenses/passage money for studies abroad
• Purchase of computers-essential for completion of the course
• Insurance premium for the student borrower
• Any other expense required to complete the course, such as, Study Tours,Project Work,Thesis, etc.

Quantum Of Loan

Need-based finance subject to repayment capacity of the parent or student with margin and upto the following ceilings

• For studies in India – Up to Rs. 10 lacs
• For studies abroad – Up to Rs. 20 lacs

Margin

• No margin for loans up to Rs. 4.00 lacs . However, for loan of higher amounts, the margin requirement is 5% for inland studies and 15% for studies abroad.
• Scholarship/assistance to be included in margin.
• Margin maybe brought in on pro-rata basis as and when disbursement is made.

Repayment

• Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier.
• Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.

Collateral Security

• Upto Rs. 4.00 Lakhs : No collateral security required
• Above Rs. 4.00 Lakhs and upto Rs. 7.50 Lakhs : no collateral security required. A suitable third party guarantee is required.
• Above Rs. 7.50 Lakhs : Collateral security of suitable value is required.

Insurance

• Life insurance of the borrower is compulsory to the tune of Loan Amount

Conditions

• The Parent/Guardian of the student who is availing loan needs to join in as co-obligator/joint borrower.
• Loan will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the parents.

Benefits

• Low interest rates of 4.78% p.a. for Local Studies and 4.88% p.a. for Overseas Studies
• High loan amount of up to 6 times your monthly income or S$100,000, whichever is lower
• Easy repayment period of up to 10 years
• Free personal accident insurance coverage of up to 10 years

Repayment Options

3 flexible repayment options for you to choose:

1) Standard Repayment – basic scheme where you pay your monthly installments (principal and interest) once your loan is disbursed.

2) Graduated Repayment – pay only interest for the loan disbursed until completion of your study, monthly installments will commence thereafter.

3) Deferred Repayment (for full time local study only) – pay your monthly installments only after completion of your study, no payment is required during your study period.

Eligibility

• Singapore Citizen or Singapore Permanent Resident
• Age between 21 and 62 (as at end of loan tenure)
• Earning a minimum annual income of S$12,000 or S$30,000 (for guarantor)
• Earning a minimum income of S$20,000 for study loan and S$36,000 for preferred credit

Documents Required

• Photocopy of NRIC (both sides) of all applicants/guarantor
• Proof of Income
• Original or certified true copy of Letter of Acceptance from Education Institution stating type and duration of course
• Invoice or course fee payment schedule

A good education has never been more important, or more expensive, than it is today. Study your options — and if you need a solid connection between “how much I have” and “how much I need,” consider a SunTrust private student loan.

Benefits

Easier to get. To apply, all you need is:

• A personal monthly income of S$2,000 and above OR
• A combined monthly income of S$2,000 and above with a family member

No worries about fees

• With up to 8 times the monthly income or S$150,000, whichever is lower, your fees are pretty much taken care of. What you do with your pocket money is up to you

Pay over a longer time

• OCBC Bank give you up to 8 years to repay your loan which means all you have to do is focus on studying instead of worrying about repayments.

Flexible repayments

• Student life should be fun and worry-free. That’s why OCBC Bank’s Education Loan comes in three delicious flavours to suit your tastes.

Eligibility Criteria

Single Applicant

• Singaporean or Permanent Resident
• Aged 21 years old and above
• Earning at least $24,000

Joint Applicant

• Main Applicant must be the student
• Joint applicant must be the main applicant’s spouse, sibling, or parent.
• Applicants must be Singaporean or Permanent Resident aged 21 years old and above
• Total annual income of at least S$24,000 between Main and Joint Applicants of either of the following:

- Main (no income), Joint (at least S$24,000 p.a.)
- Main (at least S$12,000 p.a.), Joint (at least S$12,000 p.a.)

Continuing this commitment to education, the Bank has introduced a comprehensive Education Loan Scheme-SyndVidya, which is more student responsive and parent friendly. The Scheme covers the entire spectrum of educational needs from the school education to super speciality courses including overseas courses. The scheme makes available need based finance to cover expenses related to education such as fees payable to College, Hostel, Examination, Library, Laboratory fees, caution deposit/building fund/refundable deposit upto 10% of tuition fee, Cost of Books, Equipments, Travel expenses for studies abroad etc. Only capitation fees, donation or external coaching fee are not covered. The loan scheme carries liberal limits of Rs.10.00 lac for courses within the country and Rs.20.00 lac for overseas courses. The scheme which is attractively priced at the Bank’s prime lending rate and other details are furnished below :

Eligibility Criteria

• Any student who is a major representing himself or a minor student represented by parent or guardian of Indian nationality.
• Must have secured admission on the basis of merit to professional/ technical/other courses through entrance test/selection process. Deviation/relaxation is also permitted under special circumstances.
• Must have secured admission to Foreign universities/Institution (for studies abroad).

Courses Eligible

a) Studies in India.

• Graduation: B.A., B.Com, B.Sc., etc.
• Post graduation: Masters & Phd.
• Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental Management, Computer etc. In respect of Management studies, apart from University affiliation, course should also be approved by All India Council for Technical Education. For Computer education, the recognised training Institute should have accreditation of DOE, Govt of India to conduct the course under Department of Electronics Accreditation of Computer Course (DOEACC) Scheme.
• Computer certificate courses of reputed institutes accredited to Department of Electronics or Institutes affiliated to Universities.
• Courses like ICWA, CA, CFA etc.
• Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
• Courses offered in India by reputed foreign universities.
• Evening courses of approved institutes.
• Other courses leading to Diploma / Degree etc. conducted by colleges / universities approved by UGC / Govt./ AICTE / AIBMS / ICMR etc.
• Courses offered by National Institutes and other reputed private institutions acceptable to the Bank.

b) Studies abroad.

• Graduation: For job oriented professional/technical courses offered by reputed universities.
• Post Graduation: MCA, MBA, MS. Etc.
• Courses conducted by CIMA-London, CPA in USA etc.
• Other Foreign Diploma courses are not eligible.

Student Eligibility

• Should be an Indian National.
• Secured admission on the basis of merit to professional/technical courses through Entrance Test/Selection process. Deviations/relaxations are also permitted under special circumstances.
• Secured admission to foreigh university / institutions.
• The student who is a major representing himself or a minor student represented by parent or guardian.

Quantum of Loan

• Need based finance to meet expenses such as fee payable to college / school / hostel, examination fee, cost of books, travel / passage fare for studies abroad etc.
• Capitation fee / donation / external coaching fee are not eligible for finance.
• Maximum of Rs.10.00 lac for studies in India and Rs.20 lac for studies abroad.

Margin

• For loans upto Rs.4 lac – No Margin required.
• For loans above Rs.4 lac – 5% for study in India and 15% for study abroad.

Security

• For loans upto Rs.4.00 lac – NIL.
• For loans above Rs.4.00 lac and upto Rs.7.50 lac – Collateral in the form of satisfactory third party guarantee acceptable to the Bank.
• For loans above Rs.7.50 lac – Collateral security with 25% margin covering the loan amount and assignment of future income of the student for payment of loan instalments.

Repayment

• In 5 to 7 years commencing one year after completion of the course or 6 months after securing the job whichever is earlier.

Capability Certificate

• Capability certificate for students going abroad for higher studies are also issued on production of financial and other supporting documents.

Income Tax benefits: Under section 80(e) of the Indian Income tax act, a person can exempt the amount paid against the interest of the education loan – either for self or for his/her spouse or children – for eight years from the year (s)he starts to repay the loan or for the duration the loan is in effect, whichever is lesser.