Singapore Expats

Hi guys,

Who can advise me which company or bank in Singapore offers a low interest rate in education loans?

As much as possible try to loan from CPF for education loans.

however you can only utilise up to 40% of your Ordinary Account (or your parent's CPF account), and for specific tertiary institudes which includes local poly and unis and selected overseas courses.
visit www.cpf.gov.sg for more info

If you are looking for the lowest interest rates for study loans, DBS will provide the answer. Maybank is a good choice too. Just make sure u do some negotiating (can be done), and ensure its interest free during your course of studies.

Most will need prove of employment or guarantor.

Shop around, take your time... Its a big decision, weigh your options. One wrong move and you will be jeopardising your future.

(I have a Friend in his 30s, a surgeon who is still struggling to pay off his study loans)

Any other info u need?

Hi there,

Thanks for your reply. I have checked out with CPF but they only provide for local schools...which I am not eligible for it.

I have checked out with those banks as well but I find it the interest is high. Wouldnt want to pay school fees after graduation for so long...its crazy

Hey... no choice man.

Other institutions provides higher interest rate.
How high is high? CPF is about 2.5% currently, DBS and Maybank is about 3.5% if im not wrong. 3.5% is considered low.

Credit card loans can go up to 25%
Amex loans is about 8%

Perhaps you can loan from your insurance policy? The interest rates are rather low too, or if you really need it so urgently, go exchange your insurance for cash (which i dun really recommend, but hey sometimes desperate situations you needa have desperate moves)