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 Go further in your career and secure a bright future with our Education Loan. With a competitive interest rate of 5.88% p.a.*, you can now turn that dream into a reality.
Up to 6 times your monthly income
Get an education loan of up to six times your monthly income or S$50,000, whichever is lower (minimum loan amount is S$2,000). Open to all full-time / part-time students^.
Your monthly repayment on a POSB Further Study Assist plan
| Approved Loan Amount |
S$5,000 |
S$10,000 |
S$20,000 |
| Less 3% Processing Fee |
3% |
| Disbursed Loan Amount |
S$4,850 |
S$9,700 |
S$19,400 |
Instalment amount per month
(@ 5.88% p.a.* reducing monthly rest) |
| 1-year loan (5.88% p.a.#) |
S$431 |
S$861 |
S$1,721 |
| 2-year loan (5.88% p.a.#) |
S$222 |
S$443 |
S$886 |
| 3-year loan (5.88% p.a.#) |
S$152 |
S$304 |
S$608 |
| 4-year loan (5.88% p.a.#) |
S$118 |
S$235 |
S$469 |
| 5-year loan (5.88% p.a.#) |
S$97 |
S$193 |
S$386 |
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Hassle-free Payment
Your monthly repayment is deducted automatically from your designated DBS / POSB account.
Best of all, there is no penalty charges for early repayment (in full / partial)
Application Requirements
| Applicant |
Full-time
student |
Part-time
student |
Full-time
student |
Part-time
student |
| Eligibilty |
17-20
years old |
Above 21
years old |
| Nationality |
Singapore Citizen / Permanent Resident |
| Do I need a Guarantor |
YES |
Not necessary if the required loan
<= the maximum loan quantum
allowed
|
Criteria of
Guarantor |
• Age between 21 & 60 years old
• Singapore Citizen / Permanent Resident
• Must not be an existing guarantor for
POSB Further Study Assist.
|
Qualitfying
Income |
Applicant/Guarantor: Min gross annual income of S$12,000 |
Income
Document
required |
| a) For Salaried Employees: |
Latest computerised Payslip or
Latest Income Tax Notice of Assessment (ITNA) or
Latest 12 months' CPF contribution history statement |
| |
b) For Commissioned or Variable Income
Earner: |
Latest 12 months' CPF contribution history
or
Last 2 years' Income Tax Notice of Assessment (ITNA) |
| |
| c) For Self-Employed: |
| Last 2 years' Income Tax Notice of Assessment (ITNA) |
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Mandatory
Documents to submit |
• Photocopy of NRIC (front & back) For Applicant & Guarantor (if applicable)
• Certified true copy of Letter of Acceptance stating course type and course duration
• Invoice of payment for course fees |
Click here for DBS approved list of institutions
Terms and Conditions apply.
If you are a SIM or SMU student applying for POSB Further Study Assist, please use the application form indicated above.
Please click here for the instalment calculator.
For enquiries, please call our Customer Service Hotline at 6333 0033. Alternatively, you can also SMS the following text to 76555:
STUDY<space>NAME<space>NRIC
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Terms
& Conditions | 
