Feature
Student Loans from Banks/Lenders
MOE Tuition Fee Loan
CPF Education Loan Scheme
What is it
An unsecured
personal loan without a collateral that can be used to pay for school or any form of course fees
Provided by DBS, UOB and OCBC, student can borrow 75% - 90% of their fees with no interest over their course of study.
You may use your/your parents’/your spouse’s CPF to pay for up to 100% of your course fees, if there is enough CPF OA savings that can be withdrawn.
Eligibility
Singaporeans, PR, and Foreigners (EPass, SPass) who are salaried workers in Singapore. Suitable for professionals or individuals who are looking to upskill
Only applicable for Singaporeans, PR and Foreign Students who study in Singapore Polytechnic, Nanyang Polytechnic, Ngee Ann Polytechnic, Temasek Polytechnic, Republic Polytechnic, Singapore Institute of Technology, National University of Singapore, Nanyang Technological University, Singapore University of Social Sciences and Singapore University of Technology and Design. Guarantor should be 21-60 years old, Singaporean, PR or foreigner. Guarantor should not be an undischarged bankrupt or have any current litigation
Singaporeans and foreigners taking full-time undergraduate course at one of the
Approved Educational Institutions. Those taking part-time diploma/degree or a second undergraduate course are not eligible for this scheme. Foreign students need to provide a guarantor for the application.
Loan Amount
Up to 10x of individual’s monthly income
75% - 90% of subsidised tuition fees payable by Singapore students
Up to 100% of your course fees, subject to your available withdrawal limit
Loan Tenor
Starting from 1 month to up to 5 years (depending on the type of lender and repayment structure)
Up to 20 years
Up to 12 years
Loan Interest Rate
Starting from 3.48% flat per annum
Charged at an average prime rate of DBS, OCBC, and UOB after graduation
Turnaround Time
As fast as 15 mins or within the working day
14 working days
14 working days
Documents Needed
You may apply using Myinfo Singpass at
app-personal.lendingpot.sg and provide additional documents (optional):
• 3 months payslip
• 15 months CPF
• Completed copy of Tuition Fee Loan Application Form
• Copy of Letter of Offer
• NRIC/Passport (student and guarantor)
• Provisional Offer or Final Offer Letter of Admission (for new student)
Information will be retrieved when the CPF member login using Singpass
Application Options
Contact the relevant banks for more information:
DBS: 1800 111 1111
UOB: 1800 222 2121
OCBC: 1800 363 3333
Student must file an application on the
CPF website under ‘My Requests’. An email notification will be sent to the CPF member who needs to login to the website within 14 days to approve the use of their savings.