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Singapore

Education Loan

Pursue your dreams without any financial worry

Fulfill your ambition with the right education loan

With RHB’s Education Loan, you have the opportunity to focus on your dreams first. The Flexible Repayment Scheme is as easy as it gets because it allows for payments to be made after you graduate. Indulge in worry-free higher learning while you strive to make your dreams come true.
Low interest rates
Whether you decide to study locally or abroad, or a combination of the two, you will have the freedom to pursue a higher education at an affordable rate. Be exposed to a world of choices and select the university of your dreams. No matter where you go, RHB believes in you.
Flexible repayment schemes
Make more choices with your education and career goals because you have the freedom of flexible repayment schemes. Choose from 2 ways to payback your education loan: a standard monthly instalment payment of the principal plus interest once your loan is disbursed, or a graduated payment of only the interest amount until the completion of your studies.
Long repayment period
As a potential student embarking on a new journey exploring your education and career, you may not be able to predict what lies ahead. Job markets and industry conditions change. Our Education Loan gives you a long repayment period of up to 10 years.
High loan amount
Got accepted into a premium university with high tuition costs? Fret not, qualify for a loan of up to 6 times1 your monthly income, capped at S$100,000.
Annual Income (SGD)Study Loan
S$30,000 - S$119,999
Up to 4 times1 monthly income
>S$120,000
Up to 6 times1 monthly income

Example of flexible repayment options

The table below shows an example to illustrate the kind of repayment options you could choose for your RHB Education Loan, if you were to borrow S$12,000 and opt to disburse the total loan amount upfront and the interest rate remained unchanged during loan tenure.
Total loan amountS$12,000
Interest rate
(for local studies only)
4.78% p.a2 (EIR: 6.01%)
Loan tenure36 months
Processing fee2% of loan amount payable upfront
Option A - Standard repayment
Your monthly instalment for the next 36 months will be S$358 upon loan disbursement.
Option B - Graduated repayment
During your study period, your instalment payment will be S$47 upon loan disbursement. Your monthly instalment payment of S$358 will commence upon your completion of studies for the next 36 months.
Terms & Conditions

1 Minimum annual income of SGD 30,000 is required.
The total loan amount for your RHB Education Loan will be capped up to 6 times your monthly income as indicated in the income documents, subject to a maximum of SGD 100,000 or amount RHB Bank may in its absolute discretion determine.
2Based on RHB Prime Lending Rate minus 0.92% per annum. Prime Lending Rate at the date of publication is 5.70% per annum. Interest rates and product features are subjected to changes without prior notice.

Interested? Find out more!

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Eligibility
  • Singaporeans or Singapore Permanent Residents
  • 21 to 62 years old
  • Minimum annual income of S$30,000 (main applicant) or S$12,000 (joint applicant(s)) or S$30,000 (guarantor)
  • Minimum income of S$30,000 for study loan
  • Joint applicants to be related as spouse, sibling, parent or child of the Main Applicant
Documents Required
  • Photocopy of NRIC (both sides) of all applicants/guarantor
  • Letter of Acceptance from Education Institution stating type and duration of course (original or certified)
  • Invoice or course fee payment schedule
  • Proof of Income:
    • Salaried Employee:
      • - Latest Computerised Payslip OR
        - CPF Contribution Statement (past 12 months) OR
        - Latest Income Tax Notice of Assessment (NOA) and any of the above two income documents
    • Variable Income/Commission Based Earner:
      • - Latest 6 months Computerised Payslip OR
        - CPF Contribution Statement for past 12 months OR
        - Latest Income Tax Notice of Assessment (NOA)
    • Self-Employed:
      • - Income Tax Notices of Assessment (NOA) for latest 2 years
  • Proof of Join Applicant's Relationship:
    • Parent / Child / Sibling:
      • - Birth Certificate
    • Spouse:
      • - Marriage Certificate
Fees and Charges
Processing Fee 2% of the approved loan amount
Disbursement FeeFree cashiers’ orders for disbursement to local education institutions. Various charges will be levied for demand drafts / telegraphic transfers for foreign education institutions
Late Payment Fee5% above Prime Lending Rate (currently at 5.70%) on any overdue instalment
Cancellation Fee1% on the undrawn loan amount cancelled
Full Repayment Fee1% on the outstanding loan amount
Partial Prepayment Fee1% on the prepaid amount
Other terms and conditions apply.

RHB Bank reserves the right to amend these terms and conditions, with or without prior notice to the customer, at any time. The mode of notification of suspension, termination or variation shall be at RHB’s sole discretion including, but not limited to, branch display and statement inserts.

Deposit Insurance Scheme

Singapore Dollar deposits of non-bank depositors are insured by the Singapore Deposits Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

MoneySENSE Guide

Before committing to a financial product, you are encouraged to read the ‘Understanding Financial Products’ by The Association of Banks in Singapore and MoneySENSE guide. Learn more