Education Loans

Take Your Education Further With Education Loans

Are you worried about how to bear your education expenses? Worry no more; apply for an education loan. Don’t let financing come in the middle of your dreams; we have got your back. Providing you loans up to six to seven times your monthly income.

We know how getting a degree in Singapore can be costly, and it gets even higher for studying overseas, but would you let the cost come in the way of your dreams? Allow us to take the load off your shoulders. Go forth and achieve the best that you deserve.

What Is an Education Loan?

Education loans are loans that are borrowed solely for education to bear the expenses of education. Education loans finance post-secondary education or even higher education-related expenses. These loans are expected to cover all students’ expenses like books, tuition-free, and living expenses while the applicant/student continues his education.

We provide extra funds to students while they are enrolled and completing their education.

  • University
  • Polytechnics

Features And Benefits Of Education Loans

  • Low Processing Fee

No hidden fee or any other charges; our system is transparent with the lowest possible processing fee.

  • Low-Interest Rates

We offer loans with a low-interest rate, and our interest system requires you to pay the interest fee on your loan during your study course.

  • High Financing

We provide loans that cover all your education expenses.

  • Flexible Loan Tenure

Let us know when and how you can repay, and we will make a schedule of repayments according to your feasibility. The duration of repayment can extend up to 10 years.

Are You Eligible?

The Education loans are only granted to those students who are permanent residents of Singapore or Singaporeans. Apart from that, the applicant/student may require a guarantor if;

  • If the age of the applicant is below 21
  • If the minimum income criteria of the applicant do not qualify S$2,000 per month
  • If the amount requested is eight times than applicant’s monthly income.
  • If the applicant is taking full-time studies.

Note: the guarantor must not have any bankrupt history.

How to Apply?

To apply for education loans, please check the respective institute’s website because there are different loan schemes for different institutes.

What Are The Documents Required?

Following Documents Are Required:

  • Copy of NRIC of the applicant (front and back) and guarantors NRIC (if applicable)
  • Complete and properly filled application form with applicants and guarantor’s sign on it. (if applicable)
  • Application letter from the respective institute stating name, duration, and the fee of the course.
  • Attach the documents as proof of relationship between applicant and guarantor, i.e., birth certificate, etc.

Income Documents If Employed

If you are a salaried employee, then provide any of the following documents.

  • Payslip of last three months
  • Latest income tax notice
  • P.F. contribution statement of last 12 months.

Income documents if self-employed

In the case of self-employment, the applicant must be in their business for two years at least. Also, attach the copy of:

  • Income tax notice of last two years

Terms And Conditions

Effective interest rates E.I.R. are calculated based on the applicant’s approved loan amount and the duration of the loan.

Important Note:

No residential proofs are required for the applicants who have provided the same address as stated in their NRIC. But for those applicants whose addresses vary, proof of residential address is a requirement.

Documents that are accepted as proof of residents are;

  • School Letters

Attach a copy of letters from the school stating the given address of the applicant. The letters must not be more than three months old.

  • Bills Or Bank Statements

Attach a copy of electricity or telephone bills or credit card or bank statements.

If the bills state the parent’s name instead of applicants, then proof of relationship must be provided, such as birth certificates.

Education Loans At Luckycredit88

We wish to see you succeed in life; no matter which field you belong from, you need to keep improving yourself and upgrading your knowledge. We know what stops you, and we are here to address your financial needs. Focus on your studies, and let us take care of the rest for you. Apply now and get the most affordable education loans at the lowest interest rates.


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