Quick question about tuition fee loans

[zerotimesone]

Can I just check, for OCBC tuition fee loan, are the interest rates calculated based on fixed 5.35% (ie. 5.35% * $18,000) or based on reducing balance methods?

Sorry am super blur now and cant seem to find information anywhere..

Thanks lots!

 

[OCBC Bank]

Can I just check, for OCBC tuition fee loan, are the interest rates calculated based on fixed 5.35% (ie. 5.35% * $18,000) or based on reducing balance methods?

Sorry am super blur now and cant seem to find information anywhere..

Thanks lots!

Hi there!

It's definitely based on reducing balance. As your outstanding reduces, so will the interest amount charged.

Hope this helps!

^Shereen
For OCBC Bank