• CIMB Education Loan

Covers All Your Education Needs

With a CIMB Education Loan, intimidating tuition fees are a thing of the past. Instead, you can focus on maximizing the value of your education.

Attractive Interest Rate

 

Studying can be stressful at times. But with one of the lowest interest rates in town, there is one less thing to worry about.

Low Processing Fee

 

With no hidden fees and charges, and one of the lowest processing fees in the market at 2%, it is safe to say your money is exactly where it should be.

Interest Servicing Scheme

 

With our Interest Servicing repayment scheme, you only need to pay for the interest on your loan during the course of your study. Learn more here.

Additional Features

High Financing Limits

  • When pursuing your dream, costs should not be a deterent. With a CIMB Education Loan that offers up to eight (8) times of your monthly income or S$200,000 (whichever is lower), make your dream a reality!

Unlimited Free Cashier's Orders

  • Enjoy the option to manage your loan disbursements and cash flow however you choose with unlimited cashier's orders.

Flexible Loan Tenures

  • With the flexibility of loan tenures between 1 to 10 years, get a head start by choosing the duration that best suits your financial needs.

» Click here for the Education Loan Calculator (Standard Repayment)

Here is an example of the interest and monthly instalments you will pay upon drawdown, based on a S$20,000 loan.

Loan Tenure (Years) Monthly Rest Interest Rate Processing Fee Effective Interest Rate** Monthly Instalment Amount*
1 CIMB Prime Rate - 0.11% p.a.^ 2% 9.18% S$1,716
2 7.38% S$881
3 6.75% S$603
4 6.42% S$465
5 6.23% S$382
6 6.10% S$326
7 6.00% S$287
8 5.93% S$257
9 5.88% S$235
10 5.83% S$216

» Click here for the Education Loan Calculator (Interest Servicing Repayment)

Repay only the Interest during the course of study ("Interest Servicing Period") and the Principal and Interest of the loan thereafter.

Interest Servicing Period will be determined by the duration of the course provided that the Interest Servicing Period shall not exceed 4 years. The Interest Servicing Period will be rounded up to the next 6 month mark, e.g. if the course is 3 years and 7 months, the Interest Servicing Period will be 4 years.

Repayment of Principal + Interest will start at the end of the Interest Servicing Period.

Loan Tenure (Years) Monthly Rest Interest Rate Processing Fee Effective Interest Rate** Monthly Instalment Amount*
- Course of study
First 4 years: CIMB Prime Rate + 0.49% p.a.^
2% - S$100
5 Thereafter: CIMB Prime Rate - 0.11% p.a.^ 6.44% S$1,716
6 6.34% S$881
7 6.27% S$603
8 6.21% S$465
9 6.15% S$382
10 6.11% S$326

Residential Status

  • Singaporeans and Singapore Permanent Residents only

Age Requirement

  • 16 to 50 years old

Income Requirement

  • S$24,000 for Principal Applicant (if it is an individual application) or Guarantor (if applicable)

Minimum Loan Amount

  • S$1,000

Guarantor Requirement

  • If applicant is below 21 years old
  • If applicant does not qualify the minimum income criteria of S$2,000 per month
  • Loan requested is more than 8x of his/her monthly income
  • Is taking up the Interest Servicing Scheme

Documents Required

  • Photocopy of NRIC (front and back) of Principal Applicant and Guarantor
  • Completed application form duly signed by Principal Applicant and Guarantor
  • Letter of Acceptance from the educational institution stating the type, duration of course and total course fee
  • (If applicable) Proof of Relationship between Principal Applicant and Guarantor (marriage certificate OR birth certificates)

Income Documents for Salaried Employees

  • Latest 3 months computerised/electronic payslip OR
  • Last 12 months CPF contribution history statement OR
  • Latest Income Tax Notice of Assessment

Income Documents for Commission-based / Variable Income Earners

  • Latest 2 years computerised/electronic employer’s commission statements OR
  • Last 2 years Income Tax Notice of Assessment

Income Documents for Self-Employed Applicants (applicant must be in their current business for 2 years):

  • Last 2 years Income Tax Notice of Assessment

Click here to see our Fees & Charges for CIMB Education Loan.

* The above monthly instalment amounts have been simplified for illustration purposes.

^ Interest rates are subjected to change without prior notice.

** Effective Interest Rate (EIR) is calculated taking into consideration the applicable processing fee and based on approved loan amount of S$20,000. The EIR may differ depending on the applicable monthly rest interest rate and actual loan tenure.

Terms & Conditions apply. Click here to view the full Terms & Conditions.

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