The OCBC FRANK Account is designed to work seamlessly with your student life – and your HESL loan! Enjoy up to 1.60% a year interest or 1.30% cashback on your spends, whichever is higher. Plus, get started with absolutely no initial deposits or fall-below fees.
HIGHER EDUCATION STUDENT LOAN (HESL)
Up to 100% of your education journey covered!
Pursue your education goals without financial worries.
IMPORTANT NOTICE
From 29 July 2026, all Higher Education Student Loan applications must be submitted through the StudentLoanSG (SLSG) portal.
benefits
Borrow up to 100% of your education costs
Cover your subsidised tuition fees and other study-related expenses.
Cover your subsidised tuition fees and other study-related expenses.
Enjoy 0% interest during your study period
Interest charges begin only upon graduation1.
Interest charges begin only upon graduation1.
Flexible repayment options from just S$100 a month
Start repaying from as low as S$100 a month after graduation1.
Start repaying from as low as S$100 a month after graduation1.
1Graduation refers to the date immediately after final examination, regardless of the date of your graduation ceremony. Visit Government Education Loan Interest Rates for more details on the interest rates upon graduation.
Please note that Terms and Conditions set by each institution apply.
What is HESL?
HESL offers four components that can be combined to support your subsidised tuition fees and other study-related expenses depending on your citizenship and programme.
Up to 100% of subsidised tuition fees
Other study-related expenses
Base Provision
(Up to 90% of subsidised tuition fees)
- Available for full-time undergraduate and postgraduate by coursework programmes, full-time or part-time postgraduate by research programmes, and part-time Singapore Citizen undergraduates
- Singapore Citizens (SC): Up to 90% of subsidised tuition fees payable by SC
- Singapore Permanent Residents (PR): Up to 65% of subsidised tuition fees payable by PR
- International Students (IS): Up to 45% of subsidised tuition fees payable by IS
Balance Fee Coverage
(10% of subsidised tuition fees)
- Available for Singapore Citizen undergraduates only
- Gross Monthly Household Per Capita Income (PCI) ≤ S$3,500
Living Allowance Loan
(Up to S$4,100 per academic year)
- Available for full-time undergraduates only
- Gross Monthly Household Per Capita Income (PCI) ≤ S$3,500 for Singapore Citizens and Singapore Permanent Residents, or ≤ S$1,875 for International Students
Overseas Student Programme (OSP)
(Up to S$12,000)
- Available for full-time Singapore Citizen undergraduates who have not taken up the HESL (OSP component) or the Overseas Student Programme Loan (OSPL) for the same course of study before
- Gross Monthly Household PCI ≤ S$3,500
WHAT YOU NEED TO DO
Step 1
Have an eligible OCBC account
An eligible* OCBC account is required for your loan application to be processed.
Don’t have the required OCBC account?
Open an OCBC FRANK Account today. It’s a go-to choice for students and lets you get started with your loan application.
*Eligible accounts: OCBC FRANK Account, 360 account, Bonus+ Savings Account, Monthly Savings Account, Passbook Savings Account, Statement Savings Account
Step 2
Apply for your loan on the SLSG portal
Complete the HESL application on the SLSG portal.
For international students and/or foreign guarantors: you will be notified to visit an OCBC university branch (NUS, NTU, SMU) with the required documents.
Please take note of the submission cut-off hours:
- NTU: Monday to Friday, 9:00am to 2:00pm
- NUS and SMU: Monday to Friday, 11:00am to 2:00pm
Step 3
Loan is disbursed by your school
Upon approval:
- You will be notified by SLSG of your application outcome, or you can check your status on the SLSG portal.
- Tuition fees will be disbursed directly by your school.
LOAN REPAYMENT
Using an OCBC account:
Submit the Repayment Form at any OCBC branch.
Using a non-OCBC account:
Submit both the Repayment Form and GIRO Form at any OCBC branch.
Using an OCBC account:
Submit the Repayment Form at any OCBC branch.
Using a non-OCBC account:
Submit both the Repayment Form and GIRO Form at any OCBC branch.
HESL is funded by the Ministry of Education (MOE) and administered by OCBC on behalf of NUS, NTU, SMU and NIE.
Repayment options
The repayment model below is based on these assumptions:
A S$30,000 course of study over 4 years1
0% interest2 until graduation
Full repayment3 before graduation
*Figures provided are for illustration purposes only.
1Duration of study and course fees vary by individual.
2For more details on the prevailing interest rate, visit Government Education Loan Interest Rates.
3Maximum repayment period is 10 years, excluding the period of study.
4Refers to the date immediately after your final examination, regardless of your graduation ceremony date.
The repayment model below is based on these assumptions:
A S$30,000 course of study over 4 years1
Regular monthly repayments of S$300, resulting in a 7-year repayment period2
An interest rate3 of 2.60% per annum
Partial repayment of S$10,000 at the end of year 6
*Figures provided are for illustration purposes only.
1Duration of study and course fees vary by individual.
2Maximum repayment period is 10 years, excluding the period of study.
3For more details on the prevailing interest rate, visit Government Education Loan Interest Rates.
4Partial Repayment: Before graduation, partial repayments of at least S$1,000 (in multiples of S$100) can be made anytime. Upon graduation, partial repayments can still be made, in addition to your regular monthly repayment of minimum S$100 (in multiples of S$100).
5Refers to the date immediately after your final examination, regardless of your graduation ceremony date.
6S$300/month up to Year 11 Month 2, with a final repayment of approximately S$293.36 in Month 3.
The repayment model below is based on these assumptions:
A S$30,000 course of study over 4 years1
Regular monthly repayments of S$300, resulting in a 10-year repayment period2
An interest rate3 of 2.60% per annum
*Figures provided are for illustration purposes only.
1Duration of study and course fees vary by individual.
2Maximum repayment period is 10 years, excluding the period of study.
3For more details on the prevailing interest rate, visit Government Education Loan Interest Rates.
4Refers to the date immediately after your final examination, regardless of your graduation ceremony date.
5S$300/month up to Year 14 Month 4, with a final repayment of approximately S$248.55 in Month 5.
OPEN AN OCBC FRANK ACCOUNT
For foreigners
Documents to prepare
For international students and/or foreign guarantors:
- ID or Original Passport* with at least 6 months’ validity
- Higher Education Student Loan application form*
*Notarised copy is required if the foreign guarantor is not physically present at branch.
Eligibility requirements for borrower
For more information, please refer to the MOE Website.
For NTU part-time and postgraduate courses: To check if your programme is eligible, please approach your institution of study.
Eligibility requirements for guarantor
The guarantor must:
- Be aged between 21 and 60 years old at the point of application
- Not be an undischarged bankrupt
In terms of nationality:
- If the student is a Singapore Citizen, the guarantor must be a Singapore Citizen
- If the student is a Singapore PR, the guarantor must be a Singapore Citizen/ Singapore PR
- If the student is an International Student, the guarantor can be of any nationality
READY TO APPLY?
Achieve your academic goals with support from the Higher Education Student Loan (HESL).
Apply for the Higher Education Student Loan (HESL)
Have an eligible OCBC account?
Proceed to apply for your loan via the MOE portal (SLSG).
The loan application will go live on 29 July 2026.
Do not have an eligible OCBC account?
You will need to open one before applying for your loan.