3In addition to 1% borrowing interest per month on the outstanding loan are calculated if you do not start paying a minimum of 100 S- 100 per month within 6 months of closing the payments. Proof of residence address may be required if the address of residence on your identity document differs from the SL agreement. The housing assistance loan is not available to part-time students eligible for the student loan are not offered. Loans are interest-free. The repayment period depends on the value of the loans and varies between 3 and 5 years. The refund can be made in a lump sum or fixed monthly payments from 3 months at the latest after closing. Students who need it financially and who have received the student loan, which is the neifent of the NEIs with the housing component and who bear the accommodation costs. Students to whom the loan is offered or existing beneficiaries can apply for a one-time increase in their loan from AY2018/2019 if they need additional assistance with the purchase of a laptop. Students can use their PSEA credits to repay their loan after graduation. To apply and learn more about the program, click here.
Please note that the application form must be submitted directly to MOE. Frequently asked questions about suspending repayment and limiting interest rates on government bonds Make the most of your training by studying without fear. The loan to the NEI is sustainable for the duration of the study. Based on the assessed needs, one or more of the following types of loans are offered to an eligible applicant: all borrowers (students) must provide a solid copy of the study contract. Both the borrower and the guarantor must sign the contract at the branch with the staff of the subsidiary as a witness. If the guarantor is abroad, he/she will sign in the presence of a notary and will not be present at the subsidiary during the signing. Notary: an official authorized by federal or local authorities to certify and certify certain documents by his hand and his official seal. Some lawyers are appointed notaries by their governments. Only lawyers designated as public notaries are acceptable as witnesses to the signing of the NEI student credit contract as a witness. As a borrower, you must sign the loan agreement in the presence of a bank employee.
If your non-Singaporean guarantor cannot be present in Singapore, you must advise him to sign the loan agreement in the presence of a notary in the country where he resides.