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Overview of DBS Study Loans: Which to Choose?

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DBS Study Loan

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DBS shares your dream of attending university or polytechnic. It provides various types of loans including education or student loans. The bank aims to provide opportunities to finish college education to many Singapore citizens or Singapore permanent residents who cannot otherwise afford to do so. 

DBS Study Loan

1. University

Key Features

  • Annual living allowance of up to S$3,600 or up to 20% of the subsidized tuition fee payable by Singapore students.
  • Minimum  $100 repayment per month.
  • No interest during the course of study.
  • Interest is charged at an average prime rate of DBS, OCBC and UOB after graduation.
  • For interest bearing loan, up to 20 years repayment period; for interest free student loan with repayment starting only after course completion, up to 5 years.

Interest Rate

No interest during the course of study.

Loan Amount

Up to 25% of the subsidized tuition fee payable by the student.

Repayment

  • Repayment begins at a period not longer than 6 months after graduation.
  • Loan payment can either be made lump sum or by instalments of not less than S$100 per month.
  • For interest bearing loan, repayment period is up to 20 years while interest free student loan with repayment commencing after course completion is up to 5 years.

Guarantor

  • 21 to 60 years of age
  • Not an undischarged bankrupt

Eligibility

  • Those undergraduates whose tuition fee have been financed, wholly or partially, by Singapore citizens from one or a combination of the following loan grants:
  • Scholarship
  • Tuition Fee Loan
  • CPF Education Loan
  • Tuition fee subsidy from a registered government agency/ government loans
  • MENDAKI Tertiary Tuition Subsidy/ Loan

How to apply

Visit the respective institution’s website for the application process.

 

2. Polytechnic

Key Features

  • Annual living allowance of up to S$2,000 or up to 25% of the subsidized tuition fee payable by Singapore learners.
  • Minimum  $100 repayment per month.
  • No interest during the course of education.
  • Interest is charged at an average prime rate of DBS, OCBC, and UOB after graduation.
  • For interest-bearing loan, up to 5 years repayment period; for interest-free student loan with repayment commencing only after course completion, up to 2 years.

Interest Rate

No interest during the course of education.

Loanable Amount

Up to 25% of the subsidized tuition fee payable by the student.

Repayment

Please refer to the respective institution’s website for repayment details.

Guarantor

  • 21 to 60 years of age
  • Not an undischarged bankrupt

Eligibility

  • Those full-time diploma scholars, both Singapore citizens or permanent residents (PR), enrolled in any of the local polytechnics are eligible, provided they have taken up the following schemes:
  • CPF Education Scheme
  • MENDAKI Subsidy Scheme/ Loan
  • Tuition Fee Loan Scheme

How to Apply

Please refer to the respective institution’s website for the application process.

 

DBS Tuition Fee Loan

1. University

Key Features

  • Up to 95% of the subsidized tuition fee payable by Singapore students.
  • Interest-free loan during the course of education which is charged at an average prime rate of DBS, OCBC, and UOB after graduation.
  • Repayment period of up to 20 years that begins after education completion.
  • Minimum monthly repayment of S$100.

Interest Rate

No interest during the course of study.

Loanable Amount

Up to 95% of the subsidized tuition fee loan payable by Singapore students.

Repayment

  • 20 years as maximum repayment period
  • Repayment starts not beyond 2 years after graduation
  • Loan payment can either be made lump sum or by instalments of not less than S$100 per month.

Guarantor

  • 21 to 60 years of age
  • Not an undischarged bankrupt

Eligibility

  • No income requirement
  • No age restriction
  • All students enrolled in any of the local universities or NIE are eligible, provided that they do not fall into one of the categories below:
  • Students on self-funded courses
  • Students receiving full tuition subsidy from MENDAKI
  • Students using CPF savings for payment of 100% of the subsidized tuition fee
  • Non Singapore citizen/ PR students who are not eligible for any tuition fee grant (those who pay their own full tuition fees)
  • Students receiving any Government/ Statutory Board/ school scholarships that cover tuition fee

How to Apply

  • Fill up the tuition fee loan application form.
  • Fill up the letter of offer.
  • Bring the following documents together with the guarantor to any DBS branch:
  • Application Form
  • Letter of Offer
  • NRIC/ Passport of both student and guarantor

 

2Polytechnic

Key Features

  • Up to 75% of the subsidized tuition fees payable by Singapore students.
  • Interest-free loan during the course of study which is charged at an average prime rate of DBS, OCBC, and UOB after graduation.
  • Repayment period of up to 10 years that begins after education completion.
  • Minimum monthly repayment of S$100.

Interest Rate

No interest during the course of study.

Loanable Amount

Up to 75% of the subsidized tuition fee loans payable by Singapore students.

Loan Repayments

  • 10 years as maximum repayment period
  • Repayment starts not beyond 2 years after graduation
  • Loan payment can either be made lump sum or by instalments of not less than S$100 per month.

Guarantor

  • 21 to 60 years of age
  • Not an undischarged bankrupt

Eligibility

  • No income requirement
  • No age restriction
  • All full time subsidized diploma students enrolled in any of the local polytechnics are eligible, provided they do not fall in any of the category below:
  • Those that receive full tuition subsidy from MENDAKI
  • Those that use CPF savings for payment of 100% of the subsidized tuition fees
  • Those who are receiving any Government/ Statutory Board/ school scholarships that cover tuition fees

How to Apply

  • Fill up the application form.
  • Fill up the letter of offer.
  • Bring the following documents together with the guarantor to any DBS branch:
  • Application Form
  • Letter of Offer
  • NRIC/ Passport of both student and guarantor

 

Computer Loan

1. Polytechnic

 Key Features

  • A free-interest loan.
  • Repayment period is up to 24 months that commences after education completion.
  • Minimum monthly repayment of only S$100.

Interest Rate

There is no interest.

Repayment

  • Repayment period of up to 24 months which commences after program completion.
  • Loan payment can either be made one payment or by instalments of not less than S$100 per month.

Guarantor

  • 21 to 60 years of age
  • Not an undischarged bankrupt

Eligibility

  • It only applies to Ngee Ann Polytechnic

How to Apply

Please refer to the respective institution’s website for the application process.

 

Further Assist Loan

Key Features

  • Very low interest rate.
  • Flexible repayment period.
  • High amount.

Interest Rate

4.38% per annum

Processing Fee

2.5% processing fee

Loan Amount

You can loan up to 10 times the combined monthly income of you and your guarantor, provided it does not go beyond the maximum amount of S$160,000.

Repayment

Flexible repayment period of up to 10 years.

Guarantor

  • Singapore Citizen/ Singapore Permanent Resident
  • Aged 21 to 65 years upon loan maturity
  • Has at least S$24,000 annual gross income
  • Should be an immediate family member of the borrower

Eligibility

  • Singapore Citizen/ Singapore Permanent Resident
  • Aged 17 to 65 years upon loan maturity
  • Has at least S$18,000 annual gross income

How to Apply

Download, print, and complete the application form and send it to DBS.

 

Closing

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