OVERSEAS STUDENT PROGRAMME LOAN
Unlock a world of opportunities
Pursue the overseas education you have always dreamed of – without finances holding you back.
The Overseas Student Programme (OSP) Loan is provided by the Ministry of Education (MOE) and administered by OCBC for NUS, NTU, NIE and SMU.
Revision to interest rates for MOE-funded loans
From 1 April 2024, revised interest rates will apply to all new applications for MOE-funded loans. These rates will be adjusted twice a year, on 1 April and 1 October. Find out how these revised interest rates may affect your loans.
Zero interest and no repayments required while you are in school
Start repaying your loan only after you graduate. Plus, interest charges start to apply only after graduation1.
Monthly payments over up to 5 years
Gradually repay your loan over up to 5 years2.
Flexible repayment options from just S$100 a month
Make monthly repayments of as low as S$100 after graduation.
Repayment made simple
If you intend to use an OCBC account for repayments, submit this Repayment Form at any OCBC branch to set up a monthly repayment plan. If you do not intend to use an OCBC account, complete and submit both the Repayment Form and GIRO Form at an OCBC branch.
Here is what you can expect with an OSP Loan.
Step 1
Apply through SMU
Please refer to SMU’s website for details of the application process.
Step 2
Prepare the required documents
Print out, in black ink, the email titled ‘LETTER OF ELIGIBILITY FOR OVERSEAS STUDENT PROGRAMME LOAN SCHEME’ and all documents attached within.
Step 3
Visit any OCBC Branch
Visit any OCBC branch with your guarantor to execute the Loan Agreement in the presence of an OCBC officer3. You must bring the email and all required documents.
Step 4
Get your loan disbursed
The terms of loan disbursement will be determined by SMU. While you are studying, you will neither incur interest charges nor be required to make repayments.
Step 5
Repay your loan after graduation1
You can repay your loan right after you graduate. Choose to pay in one lump sum – or equal monthly instalments of at least S$100 over up to 5 years2.
1 Interest commencement date is set by the university. You may find more information on the interest rates.
2 Your graduation day will be deemed as the first day of your repayment period (maximum period of 5 years).
3 All borrowers (i.e. students) must provide a physical copy of the Overseas Student Programme Loan Agreement. Both the borrower and guarantor will be required to sign the Loan Agreement at an OCBC branch with an OCBC officer as witness. If the guarantor is overseas, he/she must sign the Agreement in the presence of a Notary Public instead.
On the day of the agreement signing at OCBC, you and your guarantor must bring along the following documents. The Loan Agreement cannot be executed without all of these required documents.
* Or identity card, if you are Malaysian.
Please apply through your university. You can refer to your university’s website for the eligibility criteria and details of the application process.
1 Interest commencement date is set by the university. You may find more information on the interest rates.
2 Your graduation day will be deemed as the first day of your repayment period (maximum period of 5 years).
3 All borrowers (i.e. students) must provide a physical copy of the Overseas Student Programme Loan Agreement. Both the borrower and guarantor will be required to sign the Loan Agreement at an OCBC branch with an OCBC officer as witness. If the guarantor is overseas, he/she must sign the Agreement in the presence of a Notary Public instead.
Eligibility requirements
For borrower
Please refer to your university’s website for the eligibility criteria.
For guarantor
A guarantor is required and must:
- Be aged between 21 and 60 years old
- Not be an undischarged bankrupt
- Be of the following nationality:
- If the student is Singaporean, the guarantor must be Singaporean
- If the student is a Singapore PR, the guarantor must be a Singaporean/Singapore PR
- If the student is a foreigner, the guarantor can be of any nationality
Terms and conditions
If the address on your identification document differs from that on your Loan Agreement, please prepare a document showing your actual residential address.
For the Terms and Conditions, please refer to your university’s website.
Be supported through your academic journey
with your guarantor to execute the Loan Agreement with an OCBC officer as witness.
What is a guarantor?
A guarantor is someone who can be responsible for your loan in case you are not able to pay. On the day of the agreement signing at OCBC, the student must be accompanied by a guarantor.
Requirements to be a guarantor:
- 21 – 60 years old
- Must not be an undischarged bankrupt
- Fits the nationality check below
| Student | Guarantor |
|---|---|
| Singaporean | Singaporean |