Education loans Singapore

Maybank Education Loan | Student loan

Say yes to the unparalleled opportunity to learn all you can while paying only what you can. Get a loan of up to 8X that of your monthly income at an attractive interest rate, as you enjoy the flexibility to apply with a guarantor if you do not meet the income criteria on your own.

Benefits

Available for local and overseas studies Attractive interest rate from 4.78% p.a.* Low processing fee of 2% on loan amount applies. Loan of up to 8X your monthly income, or S$200, 000, whichever is lower Flexible repayment period of up to 8 years (10 years for overseas studies) Choice of available to suit your needs Fee waiver for up to 3 Cashier's Orders or Demand Drafts for payment of your tuition fees For Preferred Schools Package, call us now at
1800-MAYBANK (1800-629 2265) or visit a Maybank Branch to find out more!

* 4.78% is ELBR+0.78% p.a.
Education Loan Board Rate (ELBR) is currently at 4.00% p.a.

Types of repayment schemes available

Interest Servicing Scheme Pay only interest, for up to 3 years or till the end of your course, whichever is earlier. Standard monthly instalments (principal + interest), will commence thereafter. Partial Repayment Scheme Pay partial instalments for up to 3 years or till the end of your course, whichever is earlier. Standard monthly instalments (principal + interest), will commence thereafter Standard Repayment Scheme Pay your monthly instalments (principal + interest), once your loan is disbursed.

Eligibility

Main Applicant/Student must be: Singapore Citizen or Singapore Permanent Resident Minimum 18, maximum 65 years of age upon loan maturity Minimum income of S$18, 000 p.a. (required for loan for local part-time studies only) - guarantor required Guarantor(s) must be: Singapore Citizen or Singapore Permanent Resident Minimum 21, maximum 65 years of age upon loan maturity Minimum income of S$30, 000 p.a.

Documents required

NRIC (front and back) of student/main applicant/guarantor(s) Income documents of Main Applicant/Guarantor(s).
For salaried applicants Latest computerised payslip or Latest Income Tax Notice of Assessment or Past 6 months' CPF Statement of Account For self-employed/commission-based earners Last 2 years' Income Tax Notice of Assessment Acceptance letter from school, stating type and duration of course Proof of relationship between student and main/joint applicant or guarantor

420 North Bridge Road

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FAQ

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how to gat admission for M.E or M.S in singapore and also about educational loan? | Yahoo Answers

Student loans are meant to help students who are unable to bear their educational expenses. Student loans are different in different countries in the way they are devised, but then the common types of student loans available are the undergraduate loans, college student loans, private student loans and federal family educational loans.
Student loan repayments are not made until the student completes his graduation. This facility helps him to concentrate on his studies and earn some little amount of money while he is studying, but repayment has to start once he finishes his education.

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Where can I get the best educational loan in Singapore? | Yahoo Answers

Any bank but HSBC. They were the only bank who provided overseas education loan. I tried to take a 50k loan from them, They told me flatly, "you need to earn an annual income of $100k before we can grant you this loan". I said "look mister, if I earn a $100k a year, I would not have walked through this door, cos I wouldn't need a loan for 50k."

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