Local & Overseas Education Loan

Realise your dreams with TCC. The youths are our future and we want to do our part to offer affordable study loans.

Whether you are studying in Singapore or decided to go overseas to further your education, our education loan is set to help you kickstart your journey. We understand that the living expenses incurred from studying overseas may be a consideration factor for you and that’s why our overseas education loan can help you to cover your living expenses while you study overseas as well.

For adult learners, the sudden onset of COVID-19 has affected many jobs and industries, which led more people to realise the importance of lifelong learning and saving for rainy days. It’s never too early or too late to start cultivating a savings habit, and the objective of this upgraded Education Loan is to encourage the students to do so.

  • Maximum Loan Amount

    Up to 100% of course fees, to be disbursed on a semester basis

    Overseas Edu Loan: Option to include living expenses while studying

  • Repayment Period

    Local Edu Loan: Remaining course duration + 24 months

    Overseas Edu Loan: Up to 5 years

  • Interest Rate

    Local Education: 2.2% flat p.a.^
    Overseas Education: 4.5% flat p.a^

  • NEW! Higher Savings Interest

    0.3%* p.a compounded monthly during loan tenure

  • NEW! Option to save up to $30 monthly

    Starting from $10

If Alice decides to take up $30,000 study loan for a 3-year local course, with 5-year repayment:
Approved Loan Amount$30,000
Processing Fee2%
Total Loan Amount Disbursed$30,000
Total Interest Payable$3,366
Monthly Payable$556.10
Higher-interest Savings AccountAlice will be saving $30/month at higher interest of 0.3%p.a
At the end of 5 years, Alice would have saved:Approximately $150 from processing fees

Approximately $110 from total interest payable

$1,813.34 in her higher interest savings account

In total, Alice would have saved $2,073.34 besides fully paid her Education Loan

Please take note that the numbers in the above table are for illustration purposes only.

What our Members say

“I would like to express my gratitude for TCC in helping me to achieve my academic dreams. I have graduated and cleared my education loan.

Thank you for everything. I will strongly recommend TCC for people who need genuine help and good service.”


“The low interest rate of the student loan is such a relief to patrons like us. The staff who attended to my application has been very helpful and has carried out all procedures effectively and efficiently. Thank you once again.”


Eligibility Criteria


  • Singapore Citizen or Singapore Permanent Resident
  • Age between 21 and 60 years old
  • Earning a minimum monthly basic salary of $1,200
  • Open to salaried or contract staff, self-employed, private hired drivers
  • TCC Membership application will be processed together with loan application (for non-members)

Surety (if any):

  • Singapore Citizen
  • Age between 21 and 55 years old
  • Earning a minimum monthly basic salary of $2,000

*0.3% interest only during education loan tenure, after which will be reverted back to 0.125%.
^Additional 0.5% p.a for every 12 months extension, subjected to approval.
Extended till 31 December 2022.

The Complete Guide to Education / Study Loans in Singapore

Who can apply for an Education / Study Loan?

a. Can part-time students apply for an Education / Study Loan?
We offer loans to local students (Singaporean or PR) for both full-time and part-time courses.

c. Is it applicable to any schools?
For most banks, it can be any school as long they are able to show proof that they are studying based on their student contract. Similarly, for TCC, all schools that are Edu Trust certified will be eligible for the Education / Study Loans. We will require a copy of their student contract for the study loan application.

If the schools are not Edu Trust certified, TCC can still help them with an affordable loan under Skills Enhancement Loan, which is at 4%p.a.

What costs can the Education Loan cover?

TCC will cover up to 100% of the course fees. The amount will be disbursed on a semester basis.

For overseas education loans, there is an option to include the student’s living expenses as well.

What documents are needed to apply for an Education Loan?

1. NRIC Copy (front and back)
2. Latest payslip
3. Latest 15 months CPF Contribution History
4. CBS Report
5. Copy of PEI Contract (Original of which to be provided upon signing of the loan agreement)
6. Letter of Acceptance from the Education Institute (Original of which to be provided upon signing of the loan agreement)

How long is the application process?

Once all the documents are received by us, it will take 7 working days after the initial assessment of documents.

Is there a processing fee?

The processing fee at TCC Credit Co-operative is 2%.

How is an Education / Study Loan repaid?

The loan repayment starts from the month that the cheque is disbursed, up to the chosen repayment period.

What are the fees and interest rate for an Education Loan?

2.2% flat rate per annum at TCC; which is one of the lowest in Singapore as compared to banks which can be up to 4%.

What is the next step if I want to apply?

Please email us at marketing@tcc.org.sg

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