Private Study Loan in Singapore | Fulfil Your Academic Aspirations
Apply in a few clicks
Speedy loan approvals
Low interest and flexible tenures
Over a decade of experience
Get the support you need for school and beyond with our tailored private study loans in Singapore.
What is a Study Loan in Singapore?
A study loan in Singapore is a type of cheap interest loan for students who wish to further their education. Whether you’re currently a full-time student or looking to study part-time, a student loan can help cover your education-related expenses so you can focus on pursuing your academic goals without worrying about finances.
Applying for an education loan is easy with a legal money lender in Singapore like Synergy Credit — send in your private study loan application online in a few clicks and enjoy quick approvals in as little as 20 minutes. You’ll be pleased to know our study loans in Singapore come with competitive interest rates and tenures tailored to your financial needs, so repayments can be made at your own pace without unnecessary stress.
Loans for Education: Unlock Your Academic Potential
Obtain funds quickly for your academic pursuits
Holistic assessment — we look beyond your credit history
Cover any education-related expenses with our study loan
Stay focused on your academic pursuits worry-free
Uses of a Study Loan in Singapore
Invest in Your Future
An education loan in Singapore can be useful if you are looking to upskill yourself or transition to a new industry.
Fund Tuition and Other Education-Related Expenses
Use the funds from your student loan to pay for various education-related expenses, including course registration and tuition fees, course materials, and laptops.
Cover Everyday Expenses
Juggling work and studies can be a struggle. With a student loan in Singapore, you can better manage your everyday living expenses like transportation and food without having to worry about busting your budget every month.
Be Prepared for Unexpected Academic Costs
Pursue your further education with peace of mind knowing you’re covered by your education loan in Singapore for any unforeseen education-related costs, including laptop repairs, additional course materials, and study trips.
Pursue Your Academic Goals With Peace of Mind
With our flexible repayment options for student loans in Singapore, you can concentrate fully on your studies and pay off the loan at a pace that suits you.
Planning to take that next step in education? Our study loans in Singapore have got you
Apply in 3 Easy Steps
Instant Online Application
Send in your student loan application online at your convenience in just a few minutes.
Speedy Review & Discussion
Upon receiving your private study loan application, we’ll reach out —typically on the same day— to schedule a quick in-person consultation to go over the loan terms and finalise a repayment plan that suits you.
Release of Loan Funds
You will receive your private study loan funds in cash or via PayNow as soon as the loan contract is signed at our office.
Commonly Asked Questions — Study Loans in Singapore
Who should apply for an education loan in Singapore?
Who should apply for an education loan in Singapore? An education loan in Singapore is a type of loan for students who wish to pursue higher education without draining their savings. Whether you’re intending to pursue a degree programme or a short-term upskilling course, a student loan can provide you with the financial flexibility you need.
Apart from education loans, we also offer a variety of other loan products, including debt consolidation loans, medical loans and wedding loans. Explore our offerings today!
What can a student loan in Singapore be used for?
What can a student loan in Singapore be used for? A student loan in Singapore can cover a variety of education-related expenses, including:
- Tuition fees
- Course registration fees
- Course materials and textbooks
- Laptop or other necessary gadgets
- Accommodation
- Unexpected school-related expenses
- Daily expenses
What are the interest rates and fees for a study loan in Singapore?
What are the interest rates and fees for a study loan in Singapore? You can expect the following interest rates and fees when you take up a loan for students with regulated money lenders like Synergy Credit:
- Interest rate capped at 4% a month
- A maximum late interest of 4% monthly on the overdue loan amount
- A late fee of up to $60 monthly
- A one-time processing fee capped at 10% of the principal amount
To ease your repayment, it is always important to consider a licensed money lender’s interest rates. Remember, the lower your interest rates, the lower your cost of borrowing.
Can I still apply for a loan for students if I have other existing loans?
Can I still apply for a loan for students if I have other existing loans? Yes, you may still qualify for a private study loan even if you have existing loan obligations. That said, understand that your current income and outstanding debt will be assessed in determining your eligibility for a new loan — having too many existing loans can jeopardise your chances of getting approved for a new loan.
Speak to us today to understand your eligibility for an education loan.
Do I need collateral to apply for an education loan in Singapore?
Do I need collateral to apply for an education loan in Singapore? No, there is no need to pledge your assets as collateral when you take out a student loan in Singapore. Since a private study loan is an unsecured loan, you can look forward to getting the funds you need while keeping your valuables secure.
How can I apply for a study loan?
How can I apply for a study loan? Get started with your study loan application with Synergy Credit by following these simple steps:
- Use Singpass MyInfo for a seamless, quick online loan application experience or complete our application form manually. You may also visit our office if you prefer to apply in person.
- Get an update on your student loan application status on the same day.
- Visit our office to review your customised study loan agreement. If you are agreeable to all the loan terms, you may sign the contract and get the funds instantly, either in cash or via PayNow.
