Terms and Conditions for Study Loan

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Terms and Conditions Governing EduSmart – Study Loan

  1. This Privilege will be upheld by DBS Bank Ltd ("the Bank").
  2. This Privilege is open to all Eligible Customers. An Eligible Customer is a person who is a legal child of the policyholder of a valid life insurance policy ("Policy") under EduSmart.
  3. A valid life insurance policy refers to any of the following underwritten by Aviva Ltd ("Aviva"):
    1. MoneySmart (RP) Kids
    2. MoneySmart (RP) Ladies
    3. MoneySmart (RP) Men
    4. MoneySecure
    5. MoneyBack
  4. An Eligible Customer is entitled to a processing fee waiver on a Study Loan facility provided that at the point of application:
    1. The Policy is in force; and
    2. There has been no claim on the Policy that results in Policy termination;
    3. There is a letter of acceptance in the name of the Eligible Customer from one of the Bank’s partner education institution; and
    4. The facility is approved, subject to the prevailing regulations and the Bank’s credit policies
  5. The processing fee waiver will be applicable only to one (1) new Study Loan facility.
  6. This Privilege is non-transferable and will no longer be valid upon any claims, lapse or termination of the Policy.
  7. These Terms shall be governed by the laws of Singapore and each Customer agrees irrevocably to submit to the non-exclusive jurisdiction of the courts of Singapore. A person who is not a party to any agreement governed by these Terms shall have no right under the Contracts (Right of Third Parties) Act (Cap 53B) to enforce any of these Terms.