Education Loan for

Note: The education loan information on this page is provided only for the information of the website users, DBS Bank doesn’t offer this product at the moment.

Student Loan for Singapore

All you need to know about overseas education loans for Singapore.

About international student loans

About international student loans

Singapore is fast becoming a preferred study abroad destination for international students. This city-state is known for its world-class educational institutions and is an extremely safe city for students to study and work.

For Indian students, Singapore is a relatively closer destination to study at and is a thriving global financial hub in South East Asia with potential job opportunities.

There are several ways to fund your education in Singapore; two of these - scholarships and loans - are the most preferred. A scholarship or Tuition Grant helps subsidise your tuition fee; you can apply for one from the Singapore government.

You can also opt for a student loan for Singapore from your bank. This type of loan will help you cover tuition plus stay and transportation expenses. You can also look forward to competitive interest rates and flexible repayment options.

Types of student loans

Types of student loans

Several banks and NBFCs provide loans for students to study in Singapore. There are two types of student loans for studying in Singapore - secured loans and unsecured loans. If you are looking for better interest rates and longer tenures, then a secured loan is a better option.


Before you select a loan, these are some of the key features you should consider.

01. Expenses covered

This is an essential aspect of the loan as it will determine how much money you will have to shell out from your pocket. Some loans cover 100% of your tuition fee; others might cover a lesser percentage. Apart from tuition fees and living expenses, loans can cover a host of other costs like costs incurred on travel expenses, lab equipment, laptop, books, study tours or projects, etc.

02. Moratorium period

A moratorium for an education loan is the time given by the lending institution before the repayment tenure starts. A bank allows loan repayments, usually from a year after completing your course or six months after getting a job.

03. Processing time

This is the time it takes for the lending institution to process your loan application. This could take about a week to up to 20 days.



Different banks have different eligibility criteria familiarising yourself with these will help you know your chances of getting the best study loan for Singapore. Here are the general ones:




Indian citizen


You should be above 18 years of age (or else your parents will have to apply for the loan)


You must have secured admission in a recognised university / college in Singapore


Preference is given to technical and professional courses

Academic record

You must have an excellent academic record

Steps to get a student loan for Singapore

Steps to get a student
for Singapore

You should start applying for an education loan as soon as you start your university applications.
These are the steps to consider:

To apply for an education loan -

  1. Consider all the expenses. Find out how much funding you will need; you can use online calculators to estimate your EMI amount based on your required loan amount.

  2. Compare loan offers by different banks based on the Interest rate, processing fee amount, loan tenure flexibility, types of expenses covered, and part-prepayment terms.

  3. Submit all the necessary documents. These include
    • Letter of acceptance by the university
    • Residence proof (Aadhar card, telephone / electricity bill)
    • Proof of identity (Aadhar card, Voter's ID, PAN card)
    • Original marksheets
    • IT returns, proof of income of co-applicant
    • 2 recent passport size photographs

Frequently Asked Questions

What courses are covered under education loans?

You can get loans for graduate, postgraduate, or diploma courses. However, the university you pick must be a reputed one, and the course you choose has good job prospects. Usually, banks provide loans for professional and technical courses.

What are tuition fees?

Universities and colleges charge tuition fees in return for providing a better academic experience. Here are some of the key aspects that tuition fees cover:

  • Lectures, seminars and tutorials
  • Access to libraries, laboratories, and other study-related equipment or infrastructure
  • Membership to student unions (if any)
  • Campus field trips (travel and accommodation)
  • Graduation ceremonies
Why should I take an education loan if I have a full scholarship?

You may need funds to pay for additional expenses like off-campus stay, daily travel expenses, cost of books, clothes, food, etc. For these expenses, an education loan is ideal.

What are the post-study work options for students studying in Singapore?
Suppose you've completed your education from a recognised and approved Institute of Higher Learning (IHL) (these include certain local universities, polytechnics and institutes with offshore campuses in Singapore). In that case, you can apply for a non-renewable Long Term Visit Pass (LTVP) of one year to stay back in Singapore and look for a job. If you succeed in getting a job within that year, you can apply for a Work Permit. You can also work part-time for up to 16 hours per week if you meet the criteria set by the Immigration and Checkpoints Authority (ICA) of Singapore.
What is the process for applying to a university in Singapore?

You could start by shortlisting the universities you wish to apply to and checking their admission requirements. Then, give the exams (TOEFL, GMAT, GRE, etc.) needed for admission. You will also need to keep a Statement of Purpose (SOP) and Letters of Recommendation (LORs) ready for submission. Apply to colleges online by sending in the necessary documents. Once you're accepted to study at the university, you can apply for a student visa. You may also want to consider a student loan for Singapore.