Loans for Studying in NTU

The terms of the loan are as follows:

a. Interest Rate
An interest rate at the average of the prime rates of the following banks, DBS, OCBC and UOB, prevailing on the first day of each quarter or such other rates as may be determined from time to time will be charged upon graduation.

Interest will commence on 1st February of the year following graduation for students who graduate at the end of Semester 1 and 1st August in the year of graduation for students who graduate at the end of Semester 2.

Interest will be accrued on a monthly basis.

b. Repayment
The following repayment terms are applicable:

(i) Repayment of loan can be in one lump sum or by equal monthly instalments commencing not later than two years from the date that interest is first chargeable on the loan.

(ii) The minimum amount of repayment is $100 per month and the maximum repayment period is 20 years.

(iii) In the event that the student leaves the University without completing the course of study, the loan outstanding will immediately become due and payable. He may, however, repay the outstanding sum by monthly instalments on such terms and conditions as the University may allow depending on the circumstances of each case.

(iv) Early repayment of the loan in full or in part will be allowed after 7 working days' written notice has been given. Partial repayment may be made in multiples of $1,000.

c. Guarantor
One guarantor above 21 years but below 60 years is required. There is no income qualification. Non-Singaporean guarantors are acceptable for foreign students.

d. Late Payment Charge
Penalty interest will be levied at the rate of 1% per month on instalments in arrears.

*You may want to check out other alternative for loans online.