Maybank Education Loan

Fast track your career with a Singapore or overseas education. Further your studies with a student loan of up to 8X your monthly income at an attractive low interest rate.

With our overseas study loan, you now have more options and the freedom to pursue an education abroad. Settle your education loan at your convenience with our various repayment options.

APPLY ONLINE NOW

Online Loan Application Campaign

Apply for Education Loan online and enjoy a 50% discount of the processing fee, capped at S$150 per approved loan application.*

Click the “Apply Online Now” button!

Please note that only standard repayment scheme is available via the online loan application platform.

*Valid till 31 October 2016. Terms and conditions apply.
Education Loan CSR Campaign

From 1 July to 31 October 2016, take up a Maybank Education Loan and $501 will be donated by Maybank to The Straits Times School Pocket Money Fund to provide pocket money for children from low-income families.  Let's help to give every child a promising future!

In support of

1Capped at S$10,000 throughout the period. Terms and Conditions apply.

Benefits

  • Available for local and overseas studies
  • Attractive interest rate from 4.78% p.a.*
  • Low processing fee of 2% on loan amount applies.
  • Loan of up to 8X your monthly income, or S$200,000, whichever is lower
  • Flexible repayment period of up to 8 years (10 years for overseas studies)
  • Choice of repayment schemes available to suit your needs
  • Fee waiver for up to 3 Cashier's Orders or Demand Drafts for payment of your tuition fees
  • For Preferred Schools Package, call us now at
    1800-MAYBANK (1800-629 2265) or visit a Maybank Branch to find out more!

* 4.78% p.a. is ELBR + 0.78% p.a.
Education Loan Board Rate (ELBR) is currently at 4.00% p.a.

Click here to find out more about Education Loan for overseas studies.

Types of repayment schemes available

  • Interest Servicing Scheme
    • Pay only interest, for up to 3 years or till the end of your course, whichever is earlier. Standard monthly instalments (principal + interest), will commence thereafter.
  • Partial Repayment Scheme
    • Pay partial instalments for up to 3 years or till the end of your course, whichever is earlier. Standard monthly instalments (principal + interest), will commence thereafter
  • Standard Repayment Scheme
    • Pay your monthly instalments (principal + interest), once your loan is disbursed.

Eligibility

  • Main Applicant must be:
    • Student taking up the course
    • Singapore Citizen or Singapore Permanent Resident
    • Minimum 18 years old, maximum 65 years old upon loan maturity
    • If the student is less than 18 years old, a parent/sibling/relative to be the Main Applicant
    • Minimum income of S$18,000 p.a. is required for local part-time studies and a guarantor is required.
  • Guarantor(s) must be:
    • Singapore Citizen or Singapore Permanent Resident
    • Minimum 21, maximum 65 years of age upon loan maturity
    • Minimum income of S$30,000 p.a.

Documents required

  • NRIC (front and back) of student/main applicant/guarantor(s)
  • Income documents of Main Applicant/Guarantor(s).
    For salaried applicants
    • Latest computerised payslip or
    • Latest Income Tax Notice of Assessment or
    • Past 6 months' CPF Statement of Account
    For self-employed/commission-based earners
    • Last 2 years' Income Tax Notice of Assessment
  • Acceptance letter from school, stating type and duration of course
  • Proof of relationship between student and/or main applicant and/or guarantor

Terms and Conditions

Education Loan Terms & Conditions (PDF)

Online Loan Application Campaign Terms & Conditions (PDF)

General Terms & Conditions (PDF)

Next steps

Find out more

Talk to our loan specialist

Locate your nearest Branch

Find us at a convenient location near you

Submit your CPF Statements Online

Speed up your application process. Submit your statements here

Useful information

Existing Customers

Education Loan Terms & Conditions (PDF)

Online Loan Application Campaign Terms & Conditions (PDF)

General Terms & Conditions (PDF)