Who can apply for the Tuition Fee Loan from Frank by OCBC?
The Tuition Fee Loan from Frank by OCBC is available to full-time or part-time university students in Singapore enrolled at NUS, NTU, NIE, or SMU. Postgraduate students, research students, and those in subsidized programs may also apply, provided they meet specific citizenship and educational criteria.
Additionally, undergraduate students taking part-time courses due to financial reasons and NIE students in specific programs can also apply. International students may apply if they meet the required conditions.
Requirements to purchase the Tuition Fee Loan from Frank by OCBC
✔ Copy of NRIC or passport (for foreign students)
✔ University admission letter or matriculation card
✔ Guarantor (21-60 years old, with no bankruptcy record)
✔ Guarantor’s proof of identification and address
✔ Other requirements will be requested, according to your needs and student profile
A tip for you!
Choosing a student loan is a significant financial decision, and this loan offers considerable benefits, such as deferred interest and flexible payment options. Before deciding, carefully assess your budget and career plans.
Stay informed about rate changes, which occur biannually. New rates are applied in April and October, ensuring predictability and financial planning security.
Make sure to discuss with your guarantor so both are aware of the requirements and responsibilities. Good initial planning can help avoid surprises over time and make the repayment process smoother after graduation.
What are the rates of Tuition Fee Loan from Frank by OCBC?
Interest rates apply only after graduation and are adjusted semiannually by the Ministry of Education in Singapore. Adjustments occur each April 1st and October 1st, ensuring that loans align with market conditions and government standards.
The minimum monthly payment is $100, and the total debt can be adjusted for convenience. Students who wish to pay off the balance early can do so with no additional penalties, facilitating long-term financial planning.
Students can choose a repayment plan based on balance and the current interest rate, adapting it to their economic status and career objectives.
How to apply for a Tuition Fee Loan from Frank by OCBC?
Applications for the Tuition Fee Loan are conducted at OCBC branches in Singapore. Simply bring your guarantor and the required documents to complete the loan application form.
Now Click the button below to access the Tuition Fee Loan website and discover how to secure financing tailored to your academic needs.