POSB Education Loan Promotions for SIM, SMU and Kaplan

SIM and Kaplan Singapore students, we are offering a special promotional interest rate of 4.6% p.a. for you now! Please click on your school's icon for more information. Offer valid from 16th April to 31st July 2012. 

Read More...

OCBC Education Loan

If you are having low income, you still can have an education loan from OCBC with flexible repayment options and with loan amount up to 8 times of your salary.

Pursue your dreams toward higher education without the additional financial strain. With flexible repayment options, the Education Loan offers competitive interest rates and offers one of the highest loan tenors.

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
  We 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 our Education Loan comes in three delicious flavours to suit your tastes.
  
  

FLEXIBLE REPAYMENT

You don't have to be tied down by rigid repayment schemes. Here are 3 easy options that will suit your needs:




The effective interest rates for the different repayment schemes are as follows:

Loan Tenor	Interest Rate	Effective Interest Rate~
		Standard	Graduated#	Graduated Plus#
1 Year	6.5% p.a	10.99% p.a.
2 Years	6.5% p.a	8.72% p.a.	8.01% p.a.
3 Years	6.5% p.a	7.97% p.a.	7.62% p.a.	7.41% p.a.
4 Years	6.5% p.a	7.59% p.a.	7.39% p.a.	7.25% p.a.
5 Years	6.5% p.a	7.36% p.a.	7.24% p.a.	7.14% p.a.
6 Years	6.5% p.a	7.21% p.a.	7.12% p.a.	7.06% p.a.
7 Years	6.5% p.a	7.10% p.a.	7.04% p.a.	6.99% p.a.
8 Years	6.5% p.a	7.02% p.a.	6.68% p.a.	6.94% p.a.

~ Effective Interest Rates are calculated based on a monthly rest method and includes a processing fee of 2% of the approved loan amount.
# A 12 month course period is assumed in the calculation of the Effective Interest Rates for the Graduated and Graduated Plus repayment schemes.

IT'S AS EASY AS 123 TO APPLY!

Give yourself the edge in this competitive world by applying for the OCBC Education Loan. It's as easy as 1, 2, 3.

1. Select your school and course
2. Decide on loan amount, tenure, and repayment option
3. Complete application form and mail it back to us with the necessary supporting     documents.

REACH FOR YOUR DREAMS TODAY

FOR MORE INFORMATION

Source: OCBC Education Loan

Read More...

Maybank Education Loan (Local Studies)

Get a loan quantum up to 6 times of your monthly income; flexibility to apply with Guarantor if you do not meet the loan criteria on your own.

Key info

• Attractive interest rate of 4.78% p.a.
• Flexible repayment period of up to 8 years
• Interest Servicing scheme and Partial Repayment scheme available

Say yes to the unparalleled opportunity to learn all you can, while paying only what you can afford.

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

Interest rate

• Please call 1800-MAYBANK (            1800-629 2265      ) or visit our branch to find out more!

Choose between 3 repayment schemes

Option A – Interest Servicing scheme followed by Standard Repayment scheme

Loan Amount               : S$10,000

Total Loan Tenure      : 6 years

Loan Scheme	Loan Tenure	Interest Rates	Monthly Instalment
Interest Servicing	2 years	4.98% p.a.	S$42
Standard Repayment	4 years	4.78% p.a.	S$230

Option B – Partial Repayment followed by Standard Repayment

Loan Amount               : S$10,000

Total Loan Tenure      : 6 years

Loan Scheme	Loan Tenure	Interest Rates	Monthly Instalment
Partial Repayment	2 years	4.88% p.a.	S$126
Standard Repayment	4 years	4.78% p.a.	S$180

Option C – Standard Repayment scheme only

Loan Amount               : S$10,000

Total Loan Tenure      : 4 years

Loan Scheme	Loan Tenure	Interest Rates	Monthly Instalment
Standard Repayment	4 years	4.78% p.a.	S$230

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.

Documents required

• NRIC (front and back) of Main Applicant/Guarantor(s)/Student
• 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 Main and Joint Applicant/Guarantor

Download and complete the Application Form (PDF) and send/fax it to us with the necessary documents. Or make an appointment with our Lifestyle Finance Executives for a non-obligatory consultation.

Source: Maybank

Read More...