Maybank Education Loans

Say yes to the unparalleled opportunity to learn all you can while paying only what you can. Get a loan of up to 8X that of your monthly income at an attractive interest rate, as you enjoy the flexibility to apply with a guarantor if you do not meet the income criteria on your own.

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.

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)