Study Loan | OCBC Singapore

STUDY LOAN

Put your studies first - we will take care of the rest

Why you will love this

Receive funding for up to 20% of your MOE-subsidised tuition fee and/or a living allowance of up to S$3,600 each year

Start paying only upon graduation*

Enjoy a flexible repayment period of up to 20 years for interest-bearing loans or up to 5 years for interest-free loans

Who can apply

Borrower: A Singaporean, Singapore Permanent Resident (PR) or foreigner taking a full-time MOE-subsidised course

Guarantor: A Singaporean, Singapore PR or foreigner aged between 21 and 60 years old

Apply now

Learning is the foundation of wealth. Take the first step now with the Study Loan.

This Study Loan (SL) is provided by the Ministry of Education (MOE) and administered by OCBC for NUS and SMU.

Important notice

Revision to interest rates for MOE-funded loans

From 1 April 2024, new 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 new interest rates may affect your loans.

BENEFITS

Funding for your tuition fee and/or living allowance

Worried about covering your tuition fees or daily expenses? This loan covers up to 20% of your tuition fee – which will be subsidised if you are a Singaporean –  and/or a living allowance of up to S$3,600 a year.

Worried about covering your tuition fees or daily expenses? This loan covers up to 20% of your tuition fee – which will be subsidised if you are a Singaporean –  and/or a living allowance of up to S$3,600 a year.

No payments while you are studying

Start repaying your loan only after you graduate so you can focus on your academic goals without any financial worries.

Start repaying your loan only after you graduate so you can focus on your academic goals without any financial worries.

Flexible repayment options from just S$100 a month

Choose a repayment period of up to 20 years for interest-bearing loans or up to 5 years for interest-free loans. Monthly repayments start from S$100.

Choose a repayment period of up to 20 years for interest-bearing loans or up to 5 years for interest-free loans. Monthly repayments start from S$100.

*Your university determines the date when interest charges start to apply. Please note that Terms and Conditions set by each institution apply. For more details on interest rates, click here.

How it works
Here is what you need to do to apply for your SL:

Step 1

Apply through your university

Get the application process started directly through your university.

Step 2

Prepare the required documents

Prepare a printed copy of your Study Loan Agreement along with the document confirming your eligibility for your university.

Step 3

Submit your application

Visit any OCBC branch with the required documents.

Step 4

Repay your loan after graduation

After you graduate, we will send you a letter and email stating how you can repay your loan and when interest charges will start to apply.

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.

This Study Loan is provided by the Ministry of Education (MOE) and administered by OCBC.

What to prepare

Visit any OCBC branch with your guarantor to execute your Study Loan Agreement in the presence of an OCBC officer. You must bring all the required documents below.

Documents required for

Documents required for

Document Student Guarantor
Original Photocopy Original Photocopy

Identification documents

  • For students and guarantors who are Singaporeans/Singapore PRs: NRIC
  • For foreign students and guarantors: Identity card or passport issued by your home country
  • For foreign guarantors: In-principle approval (IPA) printout or Immigration & Checkpoints Authority (ICA) pass

Proof of local residency (e.g. NUS’ Residency letter for foreign students)

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Student Matriculation Card

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Printed copy of the Eligibility Email from NUS’ Office of Admissions

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Study Loan Agreement1

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1All borrowers (i.e. students) must provide a physical copy of the Study Loan Agreement provided by your university. Both the borrower and guarantor will be required to sign the Study 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.

If the address on your identification document differs from that on your Study Loan Agreement, please prepare a document showing your actual residential address.

For the Terms and Conditions, please refer to your university’s website.

Document Student Guarantor
Original Photocopy Original Photocopy

Identification documents

  • For students and guarantors who are Singaporeans/Singapore PRs: NRIC
  • For foreign students and guarantors: Identity card or passport issued by your home country
  • For foreign guarantors: In-principle approval (IPA) printout or Immigration & Checkpoints Authority (ICA) pass

Student Matriculation Card or Letter of Admission

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Physical Letter of In-Principle Approval from SMU’s Centre for Student Financial Assistance

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Study Loan Application Form

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Study Loan Agreement1

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1All borrowers (i.e. students) must provide a physical copy of the Study Loan Agreement provided by your university. Both the borrower and guarantor will be required to sign the Study 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.

If the address on your identification document differs from that on your Study Loan Agreement, please prepare a document showing your actual residential address.

For the Terms and Conditions, please refer to your university’s website.

Before you apply

Eligibility requirements

For borrower

Undergraduates who have received tuition fee financing from at least one of the following:

  • A Tuition Fee Loan
  • A CPF Education Loan
  • A MENDAKI Tertiary Fee Subsidy or Loan
  • A scholarship or grant
  • A fee subsidy or loan from a registered government agency

Please refer to your university’s website for the full Study Loan 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

Documents to prepare

For borrower

Physical copy of the document confirming your eligibility for your university

Physical copy of the Study Loan Agreement
Both the borrower and guarantor will be asked to sign the 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.

Ready to apply?

Be supported through your academic journey

Visit any branch

with your guarantor to execute the Study Loan Agreement with an OCBC officer as witness. Remember to bring the required documents.

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