Best Education Loans in Singapore (2024)

• Early repayment fee: 2.5 %
• Late repayment fee: S$ 75

1. Go to HSBC's website and click “Apply Now” under Personal Loans

2. Fill out an application and submit the required documents

3. Wait for approval from HSBC

1. NRIC (Front & Back)

2. For salaried employees: Last 3 months’ computerised payslip, or latest Income Tax Notice of Assessment with latest 1 month’s computerised payslip, or latest 6 months’ CPF statement (for Singaporeans or PRs)

3. For self-employed persons: Last 2 years’ Income Tax Notice of Assessment

• Late repayment fee: S$ 30

1. Download an application form on POSB's website

2. Fill it out and apply online or in-person at one of the bank's branches

3. Wait for an offer

4. Accept the offer from POSB

1. Photocopy of NRIC (front & back) for Applicant & Guarantor (if applicable)

2. Copy of Letter of Acceptance stating course type and course duration

3. Invoice of payment for course fees

4. Applicant applying with guarantor must provide birth certificate or marriage certificate to prove relationship

5. Income Document(s)

• Early repayment fee: 1 %
• Late repayment fee: S$ 50

1. Download an application form on OCBC's website

2. Mail it to the bank with copies of your NRIC, income documents, and educational institution's offer letter

1. NRIC (front & back)

2. Recent original telephone bill or original bank statement (if mailing address differs from NRIC)

3. Certified true copy of acceptance letter from institution stating type and course duration

4. Certified true copy of schedule of payment for course if not stated in acceptance letter

5. Income Document(s)

• Early repayment fee: 1 %
• Late repayment fee: S$ 80

1. Click 'Apply Now' on CIMB's website

2. Fill up the application form or request for a call from the bank

3. Mail the application form to CIMB after filling it up

1. Photocopy of NRIC (front and back) of Principal Applicant and Guarantor (if applicable)

2. Completed application form duly signed by Principal Applicant and Guarantor (if applicable)

3. Letter of Acceptance from the educational institution stating the type of course, duration of course and total course fee (if applicable)

4. Proof of Relationship between Principal Applicant and Guarantor (marriage certificate OR birth certificates)

5. Income document(s)

• Early repayment fee: S$ 150
• Late repayment fee: S$ 100

1. Go to Standard Chartered's website and click "Apply Now” button under Personal Loans

2. Fill out an application and submit all required documents

3. Wait for approval of personal loan from Standard Chartered

1. NRIC (Front & Back) 

2. Salaried employees: Latest month’s computerised payslip or latest 6 months’ CPF contribution history statement 

3. Self-employed individuals: Last 2 years’ Income Tax Notice of Assessment 

4. Commission-based earners: Latest 3 months payslip or latest 6 months' CPF contribution history statement