Tuition fee loans from dbs

[pokeu]

Once I grad, must I start paying le? I'm quite puzzled. DBS website said I must start paying 1 month after I grad but the NUS application form said


DBS website: http://www.dbs.com/sg/personal/doc/loans/personal/tuitionfee/TuitionFeeLoan.pdf

5. When will repayment begin and how I will be notified by the bank?
For students who graduated from their course of study, repayment will commence no later than
12/24 months4 after interest commencement date. Within 1 month upon your graduation, DBS
Bank will send a graduation letter with a reply slip. On the graduation letter, it will state clearly
how much the total outstanding loan to date is, when the interest commencement date is, when the
first monthly instalment payable date is. You are required to fill up the reply slip and send it back to
DBS Bank within 14 days upon receipt of letter.


NTU Application

'REPAYMENT
Repayment may be made in one lump sum or by equal monthly instalments comprising both principal and interest and payment of the lump sum or first monthly instalment shall be made not later than 2 years from the date that interest is first chargeable on the Loan or upon securing employment, whichever is earlier, and thereafter payment of the monthly instalments shall be made on the 1st day of each month. The minimum amount repayable is $100 per month and the repayment period may be extended up to a maximum of 20 years. Any amount which remains outstanding thereafter shall become immediately due and payable.'

 

[SpinFire]

Just curious, what's the interest rate for the tuition fee loan?

 

[Raider04]

Just curious, what's the interest rate for the tuition fee loan?

It's 5.25% p.a

 

[humbug23]

Interest started on August 1, and the DBS letter was sent to NTU people on August 11th. Just for comparison, OCBC sent out their notification letter in mid-July which gave the people who borrowed money from them ample time to make repayment arrangements before the interest started counting.

Just to inform that the interest is counted on a daily basis, so for a $21,000 loan (~90% of $24,000 total) each day you have to pay about $4 extra. That means they already earn about $44 from each person who waits for the letter.

Clearly someone over at DBS isn't doing their work properly.

 

[canhcutvl]

Hello, anyone knows what is the postal address to send the Repayment Reply Slip from DBS ? OCBC's form has postal address but DBS's doesn't have.

I want to send it back by post

 

[danielkwok]

payday laon

While many banks offer preferential borrowing terms to students, these loans are converted to more expensive accounts on graduation.

 

[lisadenver]

Just checking if this thread is still active?

Thanks!

 

[kennethtbh]

Just checking if this thread is still active?

Thanks!

may be useful to bump it up now since repayment period is starting soon for recent graduates. any recent grads received their TFL letter from OCBC yet?? was told pple who loaned from DBS alr got their letters.

 

[asiandaisy]

would be great to be an older sibling or your parents to pay one lump sum first to the bank, you will save quite a bit on the interest. i just graduated last year, now i left exactly 1 year to clear!

 

[beavanchua]

may be useful to bump it up now since repayment period is starting soon for recent graduates. any recent grads received their TFL letter from OCBC yet?? was told pple who loaned from DBS alr got their letters.

yea it's been sent out. my friend received.

 

[beavanchua]

would be great to be an older sibling or your parents to pay one lump sum first to the bank, you will save quite a bit on the interest. i just graduated last year, now i left exactly 1 year to clear!

well, they lose liquidity. sometimes not a bad choice to slowly just pay back the loan...