Cash woes? A personal loan to the rescue!

    RHB Education Loan Singapore

    RHB provides high loan amounts at low interest rates for its education loan. As a result, you can fulfil your dream of studying and getting a degree without the pressure of immediate payment of the borrowed amount. You have the option to choose from three flexible repayment schemes with long tenures, allowing you to focus on your studies and career goals. All Singaporeans and Permanent Residents between the ages of 21 and 62 years can take this education loan.

    Features and Benefits

    • This is a type of unsecured personal loan.
    • Enjoy interest rates as low as 4.38% p.a. for overseas and local education.
    • Get a loan amount of up to six times more than your monthly income.
    • Enjoy a long repayment period of up to 10 years.
    • Receive three flexible repayment options to pay your loan to RHB.

    Interest Rates

    The table below shows the different interest rates for local and overseas education and product bundling with fixed deposits and Unit Trust:

    Local education (p.a.) Overseas education (p.a.) Product bundling with three months FD (SGD) (p.a.) Product bundling with Unit Trust (p.a.)
    4.78% 4.88% 4.48% 4.38%

    The Effective Interest Rate (EIR) for the three repayment schemes, based on the Applied Interest Rate (AIR) of 4.88% every year for overseas education, is shown in a table below:

    Loan period Standard scheme (p.a.) Graduated scheme (p.a.) Deferred scheme (p.a.)
    While studying After studies While studying After studies
    One year 8.50% 5.55% 6.09% 5.52% 5.98%
    Two years 6.73% 5.38% 5.81% 5.36% 5.72%
    Three years 6.11% 5.28% 5.62% 5.26% 5.55%
    Four years 5.80% 5.21% 5.49% 5.20% 5.44%
    Five years 5.60% 5.17% 5.40% 5.15% 5.35%
    Six years 5.48% 5.13% 5.33% 5.12% 5.29%
    Seven years 5.39% 5.10% 5.27% 5.09% 5.24%
    Eight years 5.32% 5.08% 5.23% 5.07% 5.20%
    Nine years 5.26% 5.06% 5.19% 5.05% 5.16%
    Ten years 5.22% 5.05% 5.16% 5.04% 5.14%

    *Note – The EIRs for Graduated and Deferred schemes have been calculated on the basis of a 2-year course period.

    Repayment Schemes

    There are three flexible loan repayment schemes for you to choose from:

    • Standard scheme – Under this basic scheme, you need to pay the principal and interest amount every month upon disbursement of your loan.
    • Graduated scheme – This scheme requires you to pay only the interest amount every month while studying. You need to pay the monthly instalments only after your graduate.
    • Deferred scheme – If you are studying at a local institution, then you will have to pay the monthly instalments only after the course of study. This scheme does not require you to pay while studying.

    Say you have borrowed a total amount of S$12,000 from the bank for 36 months. The interest rate for overseas studies will be 4.88% p.a. with a processing fee of 2% of the approved loan. If you choose the standard scheme, then your monthly instalment for 36 months would be S$359 upon loan approval. If you have selected the graduated scheme, you will have to pay only the monthly interest amount of S$49 for your 2-year course in the beginning. Upon completion of your course, you will have to pay a monthly instalment of S$359 for the next 36 months.

    If you choose the deferred scheme, you do not have to pay anything during the 2-year course period. You will only start paying the monthly instalment of S$396 after you graduate for the next 36 months.

    Fees and charges

    The table below shows the different fees and charges that RHB levies:

    Fee Type Amount
    Processing Fee 2% of the approved loan amount
    Late Payment Fee 5% above the PLR (Prime Lending rate)
    Full Repayment Penalty 1% on the outstanding loan amount
    Partial Repayment Penalty 1% of the amount prepaid
    Cancellation fee 1% on the cancelled loan amount


    • You have to either be a Singaporean or a Permanent Resident of Singapore.
    • You have to be between 21 and 62 years of age.
    • You should have a minimum annual income of S$30,000 (main applicant and guarantor) or S$12,000 (joint applicant).

    Documents Required

    For Singaporean/PR applicant:

    • A copy of the NRIC.
    • Certified copy of Letter of Acceptance from the institution.
    • Certified copy of schedule of payment from the institution.

    For salaried employees:

    For variable income earners or commission based applicants:

    • Latest Income Tax Notice of Assessment or CPF contribution statement for the past 1 year OR Latest computerised payslips for the past six months.

    For self-employed applicants:

    • Income Tax NOA for the latest two years.


    Q. What is the difference between an education loan and a study loan?

    A. An education loan will only take care of your course fee whereas a study loan will finance all other expenses that you could incur while you are studying. This includes buying textbooks and laptops, paying for accommodation, and so on.

    Q. What is the minimum and maximum loan I can apply for?

    A. The minimum loan amount is S$3,000 and the maximum is S$100,000.

    Q. What are the interest rates charged by RHB on study loan?

    A. If you take a loan for one year, the bank will charge an interest of 6% per year. If you take a loan for more than a year, RHB will charge an interest of 9.50% per year.

    Q. How do I pay the monthly instalments?

    A. To make your monthly payments you can either use a savings or current account, or pay through internet banking.

    Q. How long will it take to approve my loan?

    A. The bank takes around 3-5 business days from the receipt of all necessary documents to approve your loan.

    Q. How can I apply for a loan?

    A. To apply for RHB education loan, you can download the PDF version of the Edu Loan application loan from the website or fax the filled-up form and the required documents to 6224 9346. You can choose to visit any of RHB branches in Singapore to apply or you can mail the form and the documents to:

    90 Cecil Street,


    RHB Building,

    Singapore – 069531.

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