Maybank Education Loan

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.

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% 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/Student must be:
    • Singapore Citizen or Singapore Permanent Resident
    • Minimum 18, maximum 65 years of age upon loan maturity
    • Minimum income of S$18,000 p.a. (required for loan for local part-time studies only) - guarantor 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 main/joint applicant or guarantor

Download and complete our Application Form (PDF) and send/fax it to us with the required documents to:

420 North Bridge Road
#02-36 North Bridge Shopping Centre
Singapore 188727
Fax: 63385664

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Terms and Conditions

Education Loan Terms & Conditions (PDF)

General Terms & Conditions (PDF)

Next steps

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Application form for Education Loan (PDF)

Useful information

Existing Customers

Read our Education Loan Terms & Conditions (PDF)

Read our general Terms & Conditions (PDF)