OCBC Bank
OCBC Personal Banking

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Premier Banking

Education Loan

Get the financial support you need for your education

For degree and postgraduate programmes at local private institutions.

Borrow up to S$150,000 or 8x your monthly salary

Easy to apply with a personal or combined monthly salary of S$2,000 and above

Flexible repayment options over a period of up to 8 years (inclusive of study period)




Eligibility

  • Age 21 and above
  • Annual income S$24,000 and above (individual or with joint applicant)
  • Joint applicant must be student’s spouse, sibling or parent
  • Singaporeans and Singapore PRs
How to apply

3 repayment options to suit your needs

Standard


Pay your monthly instalments (principal and interest) once your loan is disbursed.


Loan term and interest rate

Graduated


Pay only interest for the loan disbursed till the end of your course. Monthly instalments will commence after graduation.


Loan term and interest rate

Graduated Plus


Pay only interest for the loan disbursed until 1 year after the end of your course. Monthly instalments will commence on the second year after your course ends.


Loan term and interest rate

Need help?


Call us and let us help you find a suitable scheme

1800 363 3333


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Interest Rates

Loan termInterest rate (yearly)
1 year

6.5%( EIR 10.99%)
2 years

6.5%( EIR 8.72%)
3 years

6.5%( EIR 7.97%)
4 years

6.5%( EIR 7.59%)
5 years

6.5%( EIR 7.36%)
6 years

6.5%( EIR 7.21%)
7 years

6.5%( EIR 7.1%)
8 years

6.5%( EIR 7.02%)


 

Processing fee 2% of the approved loan amount with a minimum processing fee charge of S$100
Disbursement fee S$20 per cashier’s order or demand draft issue
Late repayment fee S$50
Cancellation fee 1% of the undisbursed loan amount
Full repayment fee 1% of loan prepaid


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Interest Rates

Based on a 12-month study period

Loan termInterest rate (yearly)#
1 year  
2 years

6.5%( EIR 8.01%)
3 years

6.5%( EIR 7.62%)
4 years

6.5%( EIR 7.39%)
5 years

6.5%( EIR 7.24%)
6 years

6.5%( EIR 7.12%)
7 years

6.5%( EIR 7.04%)
8 years

6.5%( EIR 6.68%)

 

# A 12-month course period is assumed in the calculation of the effective interest rate for Graduated and Graduated Plus repayment schemes.

 

Processing fee 2% of the approved loan amount with a minimum processing fee charge of S$100
Disbursement fee S$20 per cashier’s order or demand draft issue
Late repayment fee S$50
Cancellation fee 1% of the undisbursed loan amount
Full repayment fee 1% of loan prepaid


close

Interest Rates

Based on a 12-month study period

Loan termInterest rate (yearly)#
1 year  
2 years  
3 years

6.5%( EIR 7.41%)
4 years

6.5%( EIR 7.25%)
5 years

6.5%( EIR 7.14%)
6 years

6.5%( EIR 7.06%)
7 years

6.5%( EIR 6.99%)
8 years

6.5%( EIR 6.94%)


# A 12-month course period is assumed in the calculation of the effective interest rate for Graduated and Graduated Plus repayment schemes.


Processing fee 2% of the approved loan amount with a minimum processing fee charge of S$100
Disbursement fee S$20 per cashier’s order or demand draft issue
Late repayment fee S$50
Cancellation fee 1% of the undisbursed loan amount
Full repayment fee 1% of loan prepaid



Application process

Download an additional loan disbursement form


2 ways to apply

At a branch

Please bring along:
1
NRIC

for Singaporeans and
Singapore PRs

2
Income documents
  • Pay slips from the last 6 months or;
  • CPF contribution history of last 6 months (12 months for self-employed and commission-based earners) or;
  • Latest income tax statement
3
Offer letter
  • Your acceptance letter and fee payment schedule from the institution

Find nearest branch to apply
Locate

By mail

 

Complete the form and mail it to us with copies of your:
1
NRIC

for Singaporeans and
Singapore PRs

2
Income documents
  • Pay slips from the last 6 months or;
  • CPF contribution history of last 6 months (12 months for self-employed and commission-based earners) or;
  • Latest income tax statement or;
  • Submit your CPF Statement online here
3
Offer letter
  • Your acceptance letter and fee payment schedule from the institution

Need help

1800 363 3333

or contact us online