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.
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The fees and charges are as follows:
| Processing Fee |
2% of the approved loan amount with a minimum processing fee charge of S$100 |
| Disbursement Fee |
S$ 20 per cashiers' 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 |
|
 Eligibility Criteria |
Single Applicant
- Singaporean or Permanent Resident
- Aged 21 years old and above
- Earning at least $24,000
Joint Applicant
- Main Applicant must be the student
- Joint applicant must be the main applicant's spouse, sibling, or parent.
- Applicants must be Singaporean or Permanent Resident aged 21 years old and above
- Total annual income of at least S$24,000 between Main and Joint Applicants of either of
the following:
- Main (no income), Joint (at least S$24,000 p.a.)
- Main (at least S$12,000 p.a.), Joint (at least S$12,000 p.a.)
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| Mandatory Documents |
- NRIC (front & back), AND
- Certified true copy of acceptance letter from the institution stating type and duration of course, AND
- Certified true copy of schedule of payment for course fees or bill for course if not stated
in acceptance letter, AND
For salaried employee:
- Latest 6 months' CPF statement (contribution history), OR
- Latest computerised/electronic payslip and Latest Income Tax Notice of Assessment, OR
For Self-employed, Commission-based or Variable income earner:
- Latest Income Tax Notice of Assessment, OR
- Last 12 months' CPF Contribution History Statement
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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
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