Overseas Student Programme (OSP) Loan

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<i class="fas fa-info-circle ml-1"></i></span></a> <p>The Overseas Student Programme Loan (OSPL) is provided by the Ministry of Education (MOE) and administered by OCBC Bank for NUS, NTU, NIE and SMU.</p> <div class="mt2 mob-mt2 text-left text-tablet-center"> <a class="button button-primary button-width-2 btn-white btn-border" href="#how-it-works" auto-scroll="true">LEARN MORE</a> </div> </div> </div> </div> </div> </div> </div>  <div class="com_masthead-img bp-ab d-block d-tablet-none"> <div class="row justify-content-end"> <div class="col-md-8 col-lg-8 col-xl-7"> <div class="bp-img"> <img src="/iwov-resources/v2/img/products/investments/overseas-student-programme-loan/page_masthead_r1.png" alt=""> </div> </div> </div> </div> </div>  <div class="com_masthead-par par-2 d-none d-tablet-block"> <div class="container bp-rel com_masthead-par-enquire-mobile"></div> </div> </div> </div> <div id="benefits" class="section section-large"> <div class="container theme theme-blue"> <div class="section-title text-center"> <h5 class="section-header">FOR NUS, NTU & SMU STUDENTS</h5> <h2>BENEFITS OF OSP LOAN</h2> </div> <ul class="st-fe-list row theme theme-charcoal"> <li class="col-md-3"> <div class="st-fe-set d-block"> <div> <div class="st-fe-text"> <div> <div class="callout-big">0%</div> <div class="callout-small">Interest</div> </div> <span class="icon"><img src="/iwov-resources/v2/img/icon_rainbow.png" alt=""></span> </div> </div> <div class="st-fe-par"> <p>No repayment and 0% interest while studying. Interest will commence after graduation<sup>1</sup>.</p> </div> </div> </li> <li class="col-md-3"> <div class="st-fe-set d-block"> <div> <div class="st-fe-text"> <div> <div class="callout-big">5 years</div> <div class="callout-small">Repayment</div> </div> <span class="icon"><img src="/iwov-resources/v2/img/icon_spiral_calendar.png" alt=""></span> </div> </div> <div class="st-fe-par"> <p>Gradually pay back your loan over a repayment period of up to 5 years<sup>2</sup>.</p> <p><small> <sup>2</sup>This is the maximum period of making monthly repayment instalments from graduation day.</small></p> </div> </div> </li> <li class="col-md-3"> <div class="st-fe-set d-block"> <div> <div class="st-fe-text w-auto"> <div> <div class="callout-small">instalments as low as</div> <div class="callout-big">S$100</div> </div> <span class="icon"><img src="/iwov-resources/v2/img/icon_index_pointing_up.png" alt=""></span> </div> </div> <div class="st-fe-par"> <p>Pay as low as S$100 each month with our flexible repayment schemes.</p> </div> </div> </li> <li class="col-md-3"> <div class="st-fe-set d-block"> <div> <div class="st-fe-text"> <div> <div class="callout-big">REPAY</div> <div class="callout-small">VIA</div> </div> <span class="icon"><img src="/iwov-resources/v2/img/icon_page_facing_up.png" alt=""></span> </div> </div> <div class="st-fe-par text-content"> <p>Submit your Repayment Form at any OCBC Branch to set up your monthly instalment plan if you are paying from an OCBC account. Fill up both the Repayment Form and GIRO Form if you are paying from a non-OCBC account.</p> <div class="frank-button-wrapper"><a href="https://www.frankbyocbc.com/iwov-resources/pdf/student-loans-repayment-form.pdf" target="_blank" rel="noopener" cta-id="Investments-TuitionFeeLoan13june-RepaymentForm-Body"> <div class="frank-button button--secondary mt6px">Repayment Form</div> </a></div> <div class="frank-button-wrapper mt2"><a href="https://www.frankbyocbc.com/iwov-resources/pdf/GIRO-StudentLoans.pdf" target="_blank" rel="noopener" cta-id="Investments-TuitionFeeLoan13june-GiroForm-Body"> <div class="frank-button button--secondary">GIRO Form</div> </a></div> </div> </div> </li> </ul> <div class="container width-5 section-par text-center mt-5"> <p><a class="link-arrow link-theme" href="http://go.ocbc.com/moeloanrates" target="_blank">MOE Interest Rates</a></p> </div> </div> </div> <div id="how-it-works" class="section bg-light-blue"> <div class="container"> <div class="section-title mb-4"> <h3>THINGS TO NOTE FOR EACH INSTITUTION</h3> </div> <div class="com_tab theme theme-blue"> <div class="com_tab-nav d-none"> <ul> <li><a href="#for-smu">SMU</a></li> <li><a href="#for-nus-ntu">NUS & NTU</a></li> </ul> </div> <div class="mb4 mob-mb4"> <div class="com_list-switcher cm-li-list-switcher d-sm-inline-block"> <select class="com_tab-select" name="" id=""> <option value="#for-smu">SMU</option> <option value="#for-nus-ntu">NUS & NTU</option> </select> </div> </div> <div class="mt4"> <div id="for-smu" class="com_tab-set"> <div class="container"> <div class="section-title mb4"> <h5 class="section-header">How it works</h5> <h2>For SMU Students</h2> </div> <div class="row row-small mt5 group-height"> <div class="col-md-20 mob-mb4"> <div class="com_card-box text-center mb-2 mb-md-0 gh4"> <div class="com_card-box-icon pull-top"><img src="/iwov-resources/v2/img/icon_index_pointing_up.png" width="48" alt=""></div> <div class="com_card-box-col gh1"> <h5 class="product-header">Step 1</h5> </div> <div class="com_card-box-col gh2"> <h4>APPLY FOR OSP LOAN AT SMU</h4> </div> </div> <div class="section-par mt-3"> <p class="small-caption">Please refer to SMU’s website for the full criteria on the Overseas Student Programme (OSP) Loan application details.</p> </div> </div> <div class="col-md-20 mob-mb4"> <div class="com_card-box text-center mb-2 mb-md-0 gh4"> <div class="com_card-box-icon pull-top"><img src="/iwov-resources/v2/img/icon_victory_hand.png" width="48" alt=""></div> <div class="com_card-box-col gh1"> <h5 class="product-header">Step 2</h5> </div> <div class="com_card-box-col gh2"> <h4>PRINT OUT DOCUMENTS</h4> </div> </div> <div class="section-par mt-3"> <p class="small-caption">Please print the "LETTER OF ELIGIBILITY FOR OVERSEAS STUDENT PROGRAMME LOAN SCHEME" email and the attached documents within the email in black ink. Bring them along for verification during the execution of the Loan Agreement.</p> </div> </div> <div class="col-md-20 mob-mb4"> <div class="com_card-box text-center mb-2 mb-md-0 gh4"> <div class="com_card-box-icon pull-top"><img src="/iwov-resources/v2/img/icon_OK_hand.png" width="48" alt=""></div> <div class="com_card-box-col gh1"> <h5 class="product-header">Step 3</h5> </div> <div class="com_card-box-col gh2"> <h4>VISIT ANY OCBC BRANCH</h4> </div> </div> <div class="section-par mt-3"> <p class="small-caption">Head over to an OCBC Branch with your guarantor to execute the Loan Agreement in the presence of an OCBC Bank officer<sup>3</sup>.</p> </div> </div> <div class="col-md-20 mob-mb4"> <div class="com_card-box text-center mb-2 mb-md-0 gh4"> <div class="com_card-box-icon pull-top"><img src="/iwov-resources/v2/img/icon_clapping_hands.png" width="48" alt=""></div> <div class="com_card-box-col gh1"> <h5 class="product-header">step 4</h5> </div> <div class="com_card-box-col gh2"> <h4>GET YOUR LOAN DISBURSED</h4> </div> </div> <div class="section-par mt-3"> <p class="small-caption">The loan disbursement terms will be determined by your institution. There will be no interest or payments required during your study.</p> </div> </div> <div class="col-md-20 mob-mb4"> <div class="com_card-box text-center mb-2 mb-md-0 gh4"> <div class="com_card-box-icon pull-top"><img src="/iwov-resources/v2/img/favourite@2x.png" width="48" alt=""></div> <div class="com_card-box-col gh1"> <h5 class="product-header">step 5</h5> </div> <div class="com_card-box-col gh2"> <h4>Start Repaying<sup>1</sup></h4> </div> </div> <div class="section-par mt-3"> <p class="small-caption">You may commence your loan repayment immediately upon your graduation. You may choose to pay in one lump sum or equal monthly instalments of at least S$100 with a repayment period of up to 5 years<sup>2</sup>.</p> </div> </div> </div> </div> <div class="container mt5 pt5"> <div class="section-title mb4"> <h5 class="section-header">WHAT’S NEEDED</h5> <h2>DOCUMENTS TO PREPARE</h2> </div> <div class="section-par"> <p>On the day of the agreement signing at OCBC, you and your guarantor must bring along the following documents. The Loan Agreement cannot be executed without all of these required documents.</p> <p>Not sure what a guarantor is? <a class="link" data-fancybox href="#what-is-a-guarantor">Get more information</a>.</p> </div> <div class="com_table mt4"> <table> <colgroup> <col width="50%"> <col width="25%"> <col width="25%"> </colgroup> <tr> <th style="background-color: #8db8c2;"></th> <th class="text-center" style="background-color: #8db8c2;">Student</th> <th class="text-center" style="background-color: #8db8c2;">Guarantor</th> </tr> <tr> <td class="bg-white"> <strong>Identification documents</strong> <br> <ul class="list-dot"> <li>Physical NRIC for verification purposes</li> <li>Photocopies of NRIC for both parties (front and back)</li> <li>Passport* and IPA Print out/ICA pass for foreigners</li> </ul> </td> <td class="bg-white text-center"><i class="fa fa-check theme-text"></i></td> <td class="bg-white text-center"><i class="fa fa-check theme-text"></i></td> </tr> <tr> <td class="bg-white"><strong>Student Matriculation Card</strong></td> <td class="bg-white text-center"><i class="fa fa-check theme-text"></i></td> <td class="bg-white text-center"><i class="fa fa-minus"></i></td> </tr> <tr> <td class="bg-white"><strong>SMU Overseas Student Programme Loan Agreement</strong></td> <td class="bg-white text-center"><i class="fa fa-check theme-text"></i></td> <td class="bg-white text-center"><i class="fa fa-minus"></i></td> </tr> <tr> <td class="bg-white"><strong>Letter of In-Principle Approval issued by SMU Centre for Student Financial Assistance</strong></td> <td class="bg-white text-center"><i class="fa fa-check theme-text"></i></td> <td class="bg-white text-center"><i class="fa fa-minus"></i></td> </tr> <tr> <td class="bg-white"><strong>SMU Overseas Student Programme Loan Application Form</strong></td> <td class="bg-white text-center"><i class="fa fa-check theme-text"></i></td> <td class="bg-white text-center"><i class="fa fa-minus"></i></td> </tr> </table> </div> <div class="section-par mt-3"> <p class="small-caption">*Identity cards can be used for Malaysians.</p> </div> </div> </div> <div id="for-nus-ntu" class="com_tab-set"> <div class="container"> <div class="section-title mb4"> <h5 class="section-header">How it works</h5> <h2>For NUS & NTU Students</h2> </div> <div class="section-par"> <p>Please apply for the Overseas Student Programme (OSP) Loan at your respective university. You can refer to your university’s website for more details on the full criteria and application process.</p> </div> </div> </div> </div> </div> </div> </div>  <div id="interest-rate-change" class="section bg-white"> <div class="container theme theme-red"> <div class="row align-items-center"> <div class="col-md-6 mob-mb2"> <div class="text-center text-lg-right"><img src="/iwov-resources/v2/img/products/smu-student-loan/556x556_OSPL.jpg" width="405" alt=""></div> </div> <div class="col-md-6"> <div class="section-title mb4"> <h5 class="section-header">INTEREST RATE CHANGE</h5> <h2 class="theme-text">LEARN MORE ABOUT THE NEW MOE INTEREST RATES </h2> </div> <div class="section-par pr-lg-5"> <p>Starting from 1 April 2024, all new applications from MOE-funded loans will be subject to the revised interest rates. The rate adjustments will occur on a half-yearly basis, effective every 1 April and 1 October.</p> <p>Refer to our latest page to understand how the new interest rates may impact your loans.</p> <div class="mt4"> <a class="button button-primary button-width-2 btn-blue no-red-border" href="https://frank.ext1.wearesection.com/products/moe-interest-rate-change" target="_blank">FIND OUT MORE</a> </div> </div> </div> </div> </div> </div>  <div id="additional-details" class="section bg-ice-blue bp-rel"> <div class="container pb2"> <ul class="st-do-list com_accordion" close-others="true" open-first="true"> <li class="com_accordion-set"> <div class="com_accordion-title">Additional details</div> <div class="com_accordion-content"> <div class="section-par"> <p>For terms and conditions, please refer to your university’s website.</p> <p>Proof of residential address may be required if the residential address on your identification document differs from the Student Loan Agreement.</p> <p><sup>1</sup>Interest commencement date is set by the university. You may find more information on the <a class="link" href="http://go.ocbc.com/moeloanrates" target="_blank">interest rates</a>. </p> <p><sup>2</sup>This is the maximum period of making monthly repayment instalments from graduation day.</p> <p><sup>3</sup>All borrowers (student) must provide a hard copy of the Overseas Student Programme Loan Agreement. Both borrower and guarantor must sign the agreement at the branch with an OCBC Bank officer as witness. If the guarantor is overseas, he/she will need to sign in the presence of a Notary Public and will not be present during the signing at the branch.</p> </div> </div> </li> </ul> </div> <div class="com_bottom-arrow"> <div class="container"><span></span> </div> </div> </div> </section> <form id="ag-d-form" method="POST" action="/frankbyocbc/article-details.page?submit=true&componentID=1540376819611" enctype="multipart/form-data"> <input type="hidden" name="cardType" id="cardType" value=""> <input type="hidden" name="prodData" id="prodData" value=""> <input type="hidden" name="facData" id="facData" value=""> <input type="hidden" name="tracker" id="tracker" value=""> <input type="hidden" name="external_link" id="external_link" value=""> <input type="hidden" name="FacType" id="FacType" class="FacType2" value=""> <input type="hidden" name="selected-card1" id="selected-card1" value=""> <input type="hidden" name="selected-card2" id="selected-card2" value=""> <input type="hidden" name="selected-card3" id="selected-card3" value=""> <input type="hidden" name="AgentSourceCode" id="AgentSourceCode" value=""> <input type="hidden" name="AgentIntroducerID" id="AgentIntroducerID"> <input type="hidden" name="AgentID" id="AgentID"> </form> <div style="display: none"> <div id="am-i-eligible" class="popup-content popup-width-2 theme"> <div class="section-title mb3"> <h4>Am I eligible?</h4> </div> <div class="section-par"> <p>Please refer to your university’s website for the full criteria on the Overseas Student Programme (OSP) Loan application details.</p> </div> </div> <div id="what-is-a-guarantor" class="popup-content popup-width-2 theme"> <div class="section-title mb3"> <h4>what is a Guarantor?</h4> </div> <div class="section-par"> <p>A guarantor is someone who can be responsible for your loan in case you are not able to pay. On the day of the agreement signing at OCBC, the student must be accompanied by a guarantor.</p> <p><strong>Requirements to be a guarantor:</strong></p> <ul class="list-dot"> <li>21 – 60 years old</li> <li>Must not be an undischarged bankrupt</li> <li>Fits the nationality check below</li> </ul> <div class="mt3"> <table style="width: 100%;"> <tr> <th class="section-header pb1" style="border-bottom: 1px solid #cbcbcb;">Student</th> <th class="section-header pb1" style="border-bottom: 1px solid #cbcbcb;">Guarantor</th> </tr> <tr> <td class="pt1">Singaporean</td> <td class="pt1">Singaporean</td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </article> </div> </div> <div class="footer__pad__filler"> <div class="footer__pad__filler--left"></div> <div class="footer__pad__filler--right"></div> </div> <div class="footer__pad"> <div class="footer__pad--left"></div> <div class="footer__pad--right"></div> </div> </main>   <div class="iw_component" id="iw_comp1540376819631"> </div>  <div class="iw_component" id="iw_comp1540376819627"> <footer id="footer"> <div class="footer-content"> <div class="footer-top container-fluid"> <div class="container"> <div class="row align-items-end"> <div class="col-auto"> <div class="logo mb1"><img src="/iwov-resources/v2/img/frank-logo-clean.png" width="101" alt=""></div> <h5 class="section-header mb2 mob-mb2">SAYING IT AS IT IS.</h5> <div class="fo-co-par par-small"> <p><p><b>Get in touch with us</b><br /><a href="tel:18003633333">1800 363 3333 (local)</a> <br /><a href="tel:+6563633333">+65 6363 3333 (overseas)</a><br /><a href="https://www.ocbc.com/personal-banking/contact-us" class="" target="_target">Contact Us</a></p></p> </div> <div><ul class="fo-co-sns"> <li><a href="https://www.facebook.com/FRANKbyOCBC/" target="_blank"><i class="fab fa-facebook"></i></a></li> <li><a href="https://www.youtube.com/user/FRANKbyOCBC/" target="_blank"><i class="fab fa-youtube"></i></a></li> <li><a href="https://www.instagram.com/frankbyocbc/" target="_blank"><i class="fab fa-instagram"></i></a></li> <li><a href="https://twitter.com/frankbyocbc?lang=en" target="_blank"><i class="fab fa-twitter"></i></a></li> </ul></div> </div> <div class="col-auto d-none d-md-block"> <div class="row"> <div class="col-auto"> <ul class="fo-to-links mb1"> <li><a href="/executives" target="_self">For Executives</a></li> <li><a href="/students" target="_self">For Students</a></li> <li><a href="/plan/digital-banking" target="_self">Digital Banking</a></li> <li><a href="https://www.frankbyocbc.com/faq" target="_self">FAQ</a></li> </ul> </div> <div class="col-auto"> <ul class="fo-to-links mb1"> <li><a href="/" target="_self">Accounts</a></li> <li><a href="/products/cards/which-is-the-right-card-for-me" target="_self">Cards</a></li> <li><a href="/products/investments" target="_self">Investments</a></li> <li><a href="/products/investments/student-loan" target="_self">Student Loans</a></li> </ul> </div> <div class="col-auto"> <ul class="fo-to-links mb1"> <li><a href="/blog" target="_self">Blog</a></li> <li><a href="/products/cards/hot-deals" target="_self">Hot Deals</a></li> <li><a href="/frankpreneurship" target="_self">FRANKPRENEURSHIP</a></li> <li><a href="/stores" target="_self">Stores</a></li> </ul> </div> </div> </div> </div> </div> </div> <div class="footer-bottom container-fluid"> <div class="container fo-co-par par-small"><p>Copyright © <span id="year">2021</span> OCBC Bank. 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