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Education Loan

Align your dreams and ambitions away from financial worries. With RHB Edu Loan, your dreams can now be rotated in your favour. No matter how you turn, you can enjoy affordable financing package for higher learning. Achieve your dreams and ambitions with RHB Edu Loan.

Benefits
• Low interest rates of 4.88% per annum* for your local or overseas studies
• High loan amount of up to 6 times* your monthly income or S$100,000, whichever is lower
• Easy repayment period of up to 10 years
• Free personal accident insurance coverage of up to 10 years

Repayment Options
3 flexible repayment options for you to choose:

Standard Repayment – basic scheme where you pay your monthly installments (principal and interest) once your loan is disbursed.
Graduated Repayment – pay only interest for the loan disbursed until completion of your study, monthly installments will commence thereafter.
Deferred Repayment (for full time local study only) – pay your monthly installments only after completion of your study, no payment is required during your study period.

Illustration on Flexible Repayment Options
Below are estimated illustrations of the repayment options you can choose from your RHB Edu Loan. This illustration assumes you have chosen to disburse the total loan amount upfront and the interest rate remains unchanged during your loan tenure.

Total loan amount

S$12,000

Interest rate

4.88% p.a.

Loan tenure

36 months

Processing fee

2% of loan amount

Disbursed loan amount

S$11,760

Option A – Standard Repayment.
Your monthly installment for the next 36 months will be S$359 upon loan disbursement.

Option B – Graduated Repayment
During your study period of 2 years, your monthly interest payment will be S$49 upon loan disbursement. Your monthly installment of S$359 will commence upon completion of your study for the next 36 months.

Option C – Deferred Repayment (for full time local study only)
During your study period of 2 years, no payment will be required upon loan disbursement. Your monthly installment of S$396 will commence upon completion of your study for the next 36 months.

Eligibility
• Singaporean or Singapore PR
• Age between 21 and 62 (as at end of loan tenure)
• Earning a minimum annual income of S$12,000 or S$30,000 (for guarantor)
• Earning a minimum income of S$20,000 for study loan and S$36,000 for preferred credit

Documents Required
• Photocopy of NRIC (both sides) of all applicants/guarantor
• Proof of Income:
          •   Salaried Person:
              1)    Latest original payslip AND
              2)    Income Tax Notice of Assessment OR CPF statement for past 6 months

          •   Self-Employed:
              1)    Latest Income Tax Notice of Assessment OR CPF statement for last 2 years
• Original or certified true copy of Letter of Acceptance from Education Institution stating type and     duration of course
• Invoice or course fee payment schedule

For more information, call 1800 323 0100 or 62253111, email us or visit our branches.


*Based on RHB Prime Rate minus 0.82% p.a. Prime Rate at time of print is 5.70% p.a. Rate is subject to change. Terms & conditions apply.