Education Loan, Student Loan, Overseas Study Loan | Maybank Singapore



Maybank Education Loan

Promotion   |    Benefits   |   Repayment Schemes    |    Eligibility   |   To Apply
Application Process    |    Instalment Illustration    |    Useful Links   |   TERMS AND CONDITIONS

Maybank Education Loans

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

With our overseas study loan, you now have the freedom to pursue an education abroad. Apply for an education loan online at your convenience with our various repayment options as well as our competitive education loan rates.

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PROMOTION

 

Maybank Education Loan Promotional Package

Enjoy 

  • Attractive interest rates from 4.45% p.a. (Education Loan Board Rate plus 0.45% p.a.) 1
  • Discounted Processing fee at 1.50% of approved loan amount1

when you apply for a Maybank Education Loan now.

1 This promotion is valid till 4 October 2019. Your application must be approved by 4 October 2019. Maybank may change these terms or suspend or terminate the promotion without giving any notice. The Education Loan Board Rate is currently at 4.00% p.a.

Plus
Apply online and be rewarded with S$100 voucher.

   
 

Maybank Online Local Education Loan (LEL) S$100 Rewards Campaign

Apply for an Education Loan online to finance your local studies and receive S$100 Takashimaya voucher2 per successful application.

2 Campaign Period from 1 July 2019 to 31 October 2019 or whilst stock last, whichever is earlier. To be eligible to receive S$100 worth of Takashimaya voucher under the Campaign, applicant must, during the Campaign Period, successfully apply for an Education Loan via the online loan application platform on Maybank's website with a minimum loan quantum of S$15,000 and a minimum loan tenure of 3 years ("Loan"). For avoidance of doubt, the Loan must be applied for, approved and accepted by 31 October 2019. Applicable to local studies only. Campaign is not in valid in conjunction with other promotions/campaign. Terms and Conditions apply.

 

APPLY ONLINE NOW

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BENEFITS

Flexible repayment tenure of up to 10 years.
Flexible repayment loan tenure of up to 8 years is applicable for local study.
Loan amount of up to 8X your monthly income or S$200,000, whichever is lowerAttractive interest rates from 4.45% p.a. monthly rest (Education Loan Board Rate plus 0.45% p.a.).
Education Loan Board Rate is currently at 4% p.a.. A 1.50% processing fee applies. Terms and Conditions apply.
      
Wide range of local and overseas accepted institutionsChoice of repayment schemes available to suit your needsAdditional financing is also available for education-related expenses, such as accommodation fees, purchase of textbooks and computing equipment cost

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Repayment Schemes

3 choices of monthly repayment schemes:

  1. Standard repayment
  2. Interest servicing followed by standard repayment
  3. Partial followed by standard repayment
Standard Repayment
 
Partial Repayment
 
Interest Servicing
  • Pay your monthly instalments
    (principal + interest), once your loan
    is disbursed
 
  • 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
 
  • 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

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Eligibility

  • Singaporean and Permanent Residents
  • Applicant (student) : 18-55 years old
  • Guarantor (if required) : 21-55 years old
  • Applicant (student-local part-time studies) : minimum S$18,000 annual income
  • Guarantor (if required) : Minimum S$30,000 annual income

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Ways to Apply


Click here to apply online now!

SMS: STU <Name> <Contact No.> to 79898.
We will contact you shortly.

Apply at any of our 22 Maybank Branches.

Contact me

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Application Process

Prepare your acceptance letter from school





 

Apply for an Education Loan with the following documents:

  1. Completed application form
  2. NRIC (front and back)
  3. Income documents
  4. Signed local or overseas accepted institution's acceptance letter, stating type and duration of course
  5. Proof of relationship between student and/or main applicant and/or guarantor




 

Loan approval and disbursement

  1. You will receive a letter from us, upon loan approval
  2. Submit the loan disbursement form
  3. Cashier's Order(s) will be issued in the name of local or overseas accepted institution

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Illustration For Monthly Education Loan Instalment

Loan Amount: S$20,000
Interest Rate: 4.45% p.a. (monthly rest)

Loan Tenure
Estimated Monthly Instalment (S$)2
1
1707.11
2
872.51
3
594.49
4
455.62
5
372.41

Important points to note:
The above monthly instalment calculations are for illustration purposes only and does not constitute a loan offer. A 2% processing fee on approved loan amount will be net-off from the disbursed loan amount.
1 Terms and Conditions apply.
2 The figures are computed based on the interest rate quoted above and are subject to change.

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Useful Links

For changes to the details of your loan account or loan servicing account, please download the Loan Service Request Form.

To request for disbursement of your loan, please download the Loan Disbursement Form.

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    Terms and Conditions

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