Student  Education Loans by CITI bank

Overview

Power ahead in life with higher educational qualifications        

    
We acknowledge the importance of education
Citibank Education Loan gets you an education without any financial worries. Education is one of life's most important investments that should never be hampered with a financial dilemma. Let Citibank take the financial burden out of the equation so that you can focus your attention on what matters most - education.

For Local & Overseas Studies
We can alleviate your financial worries be it local or overseas studies.

Competitive interest rate
Enjoy competitive interest rate and cost savings. You are charged ONLY on the disbursed and outstanding amount.

Flexible repayment plan

Option 1        
Standard Repayment Plan allows you to pay monthly instalments (principal and interest) with ease after the loan is approved and disbursed.

Option 2
Deferred Repayment Plan allows you to defer the loan principal repayment until after the course of study. You will need to pay only the monthly interest on your loan after the loan is approved and disbursed. Monthly installments (principal and interest) will commence after completion of your course of study.

Highest loan amount
You can borrow up to 6 times of your monthly gross income or up to S$150,000, whichever is lower. (Up to 8 times may be allowed for overseas study, only for standard repayment plan)

Up to 3 applicants
Obtain your desired loan amount either as an individual applicant or with up to 3 applicants. Yourself or your immediate family members may apply along with relatives & friends. No guarantors required.

Fast loan approval
We can approve your loan application within 1-2 working days upon your complete submission of documents.

Repayment convenience and disbursement convenience
Choose up to 9 years to repay your loan. Draw down your loan fully upfront or progressively during your course of study.

Qualifying criteria and what are relevant documents needed

Applicable to all Main and Joint Applicants
Qualifying Age-         21- 55 years old
(If you are less than 21 years of age, or not working, please get your immediate family members or relatives to apply on your behalf)
Nationality     Singaporean or Permanent Resident (If you are a foreigner, please get your immediate family members or relatives who are Singapore Citizens/ Permanent Residents to apply on your behalf)
Qualifying Income At least S$30,000 per annum (For students not earning or earning less than $30,000 per annum, a nucleus family member earning S$30,000 per annum is required)
Qualifying Length of Employment period  
Applicants must be in the current job for at least 6 months if annual income is below S$24,000 per annum
No minimal length of employment is needed if annual income is at least S$24,000 per annum
For Self-Employed: Applicants must be in the same business for at least 2 years
Relevant Income Documents

For Salaried Employees
Latest Computerised Payslip or
Latest 6-month CPF Contribution History or
Latest Income Tax Notice of Assessment

For SAF and All Uniformed Groups
Latest Computerised Payslip or
Latest Income Tax Notice of Assessment
             
For New Employees
Appointment Letter and
Latest 6-month CPF Contribution History
             
For Commission/ Variable Earner
Latest 6-month CPF Contribution History or
Latest Income Tax Notice of Assessment
             
For Self-Employed
Latest 2 years' Income Tax Notice of Assessment

Additional Documents          
1.         Clear photocopy of NRIC ( Front and back )
2.         Original or certified true photocopy of the letter of acceptance from the institution of study, with indication of duration of course and fees
3.         Original or certified true photocopy of the billing / invoice or separate course fees payment schedule
(If course fees is not stated in the letter of acceptance)