OCBC Frank Education Loan
Interest Rate
Processing Fee
Monthly Repayment
Loan Amount
Loan Tenure
For students studying at a local private or overseas institution, get your OCBC Frank Education Loan online. It offers a low-interest rate of just 4.5% per annum (EIR is 5.17% per annum) and allows you to loan up to 10x your monthly income or S$150,000, whichever is lower. This package guarantees quick approval and a range of flexible repayment options.
ALL DETAILS
Key Features
- Borrow up to 10x of your monthly salary, up to $150,000
- Loan tenure of up to 8 years
- Flexible repayment option
- Low-interest rate: 4.5%
- Minimum loan amount: S$1000
Study Location
- Singapore
- Overseas
Eligibility
| Citizenship Status | Singaporean / PR |
| Age Requirement (applicant) | 21 years old and above |
| Employment Status | Salaried Employee, Variable/Commission-based Employees or Self Employed |
| Minimum Annual Income | S$24,000 and above (individual or with the joint applicant) |
| Guarantor Required | if the applicant is not working or loan amount cannot be supported by applicant’s income |
| Age Requirement (guarantor) | 21 – 60 years old |
Other Fees and Charges
| Disbursement Fee | $20 per cashier’s order or demand draft issue |
| Processing Fee | 2.5% of approved loan (min $100) |
| Late Payment Fee | S$50 |
| Partial Repayment Penalty | 1% of amount prepaid |
| Full Repayment Penalty | 1% of amount prepaid |
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