Top 3 Study Loans Which will Help You to Take Admission in Singapore

Top 3 Study Loans Which will Help You to Take Admission in Singapore

Nowadays education has become very costly, and if you aspire for higher studies then you might need to take a loan from the bank. A point will come in the life of many students that they will have no choice but to apply for a loan. So here you will get to know the details of Singapore bank loans for aspiring students.

  • OCBC FRANK education loan with a 4.5% interest

This the loan which is believed to be the lowest interest loan currently providing service all over the United Kingdom, Unites States, New Zealand, and Australia. The highest amount you can take as the loan is pretty impressive. It is nearly $150,000 US dollar. They allow you to apply for the amount which will be 10X of your monthly family income.

Specialties

  • Minimum loan amount-$1000
  • Maximum loan amount-$150,000
  • Maximum loan period-8 years
  • Approval time-2 weeks
  • Interest- 4.5%

  • POSB Further Study Assist Loan With 4.38% Interest

POSB has an interest rate of 4.38% which makes it the lowest interest in study loans at present. However, this rate is only applicable to the students of local residences. If you are a foreign student than the interest rate will be 5.88% for you. Here the maximum amount is limited to $80,000 US dollar. Here you will need a guarantor for yourself who will sign the bond for you, so he or she must be an account holder of this bank. Otherwise, they won’t allow any other person. You can apply for the amount which will be 6X of your monthly family income.

Specialties

  • Minimum loan amount-$2000
  • Maximum loan amount-$80,000
  • Maximum loan period-5 years
  • Approval time-1-2 week
  • Interest- 4.38% or 5.88%

  • RHB Educational Loan With 4.78% Interest

If you want to apply for this loan then you must be 21 or above, otherwise, they won’t give priority to your application. The interest varies for local and foreign students. If you are a local fellow then you need to pay the amount with 4.78% interest but if you are a foreigner then the interest will be 4.88% for you. It offers the minimum amount of loan which is $3000. You can apply up to 6X of your monthly family income.

Specialties

  • Minimum loan amount- $3000
  • Maximum loan amount-$100,000
  • Maximum loan period- 10 years
  • Approval time- 3 weeks
  • Interest- 4.78% or 4.88%

Other banks provide you flexibility on time and you can choose the amount according to your ease.

Categories: Finance

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