DBS Further Study Assist

DBS Further Study Assist: An Ideal Study Loan For Thriving Working Students

With an interest rate of 4.38%, the lowest late payment fee at $30 and the highest loan amount educational assistance can offer, DBS Further Study Assist has a slightly lower interest rate than other banks. However, it’s important to note that repayments happen the following month after its approval and are to be paid every 1st of the month. Know more about how education loan works here. 


Key Features

Here are the loan features of DBS Further Study Assist: 

  • Interest Rate: 4.38%
  • Processing fee: 2.5%
  • Maximum Loan Tenure: 10 years
  • Maximum Loan Amount: $160,000 



1. Higher chances of an approved loan

The DBS and POSB further study assist programs both have standards that needd to be met. Luckily, a guarantor can step in if you are below 21 years of age, studying on a full-time basis, studying overseas, require a larger loan amount, or simply do not meet the minimum income eligibility per annum.

2. No cancellation penalty

DBS further study assist and POSB further study assist will not charge for any cancellation fees should circumstances change prior to the approval of the education loan.

3. Fixed interest rate

Depending on various market indicators, interest rates might differ from time to time but rest assured the interest rate you procured at the time of loan approval will be fixed all throughout your term loan.



1. Limited guarantor availability

Having a guarantor will raise the chances of you having an approved loan, but in this instance, your guarantor must be an immediate family member with S$24,000 minimum annual income and should be around 21 to 65 years of age upon loan maturity.

2. Late payment fee

To maximize the benefit of these education loans, you need to pay its monthly charges religiously as it will cost you S$30 on an overdue amount after the 1st of every month.

3. No study now, pay later

You are required to pay the monthly repayments the following month after your loan approval.


Why should you take it?

Both DBS and POSB Further Study Assist are best for students who wish to further their educational accomplishments. It has the lowest late payment fee at $30 and the highest loan amount educational assistance can offer. However, your guarantor must be an immediate family member. 

Interest Rate Processing Fee Maximum Amount of Loan Loan Tenure
DBS Further Study Assist 4.38% 2.5% 10x of your monthly salary, up to $160k up to 10 years
OCBC FRANK Education Loan 4.5% 2.5% 10x of your monthly salary, up to $150k up to 8 years
Maybank Monthly Rest Education Loan (Local) 4.45% 2% 8x your monthly salary up to $200k up to 8 years
CIMB Monthly Rest Education Loan (Local) 5.39% 2% 8x your monthly salary up to $200k up to 10 years


Coupled with the amount you can loan; it also has a flexible repayment period depending on your loan term. Also, unlike Maybank that charges disbursement fee, there is no charge for cancellation, disbursement, and full or partial repayment. 


Preferred Institutions

Local Institutions  Private Institutions 
BCA Academy Asian International College
Nanyang Polytechnic At-Sunrice GlobalChef Academy
Nanyang Technological University Auston Institution of Management
National University of Singapore Curtin Education Centre
Ngee Ann Polytechnic ERC INSTITUTE
Republic Polytechnic Informatics Academy
Singapore Institute of Technology James Cook Australia Institute of Higher Learning
Singapore Management University Kaplan Higher Education Academy
Singapore Polytechnic Kaplan Higher Education Institute
Singapore University of Social Sciences Kaplan Learning Institute
Singapore University of Technology & Design Lasalle College of the Arts
Temasek Polytechnic Management Development Institute of Singapore
Nanyang Academy of Fine Arts
Nanyang Institute of Management
Ngee Ann Academy
PSB Academy
Singapore Institute of Management
TMC Academy
Trent Global College of Technology and Management


Preferred Institution vs Other Institutions 

Preferred Institutions Other Institutions
Loan Tenure 1 to 10 Years 1 to 5 Years
Maximum Loan 10x combined monthly income 8x combined monthly income
Interest Rate 4.38% 5.88%
Processing Fee 2.5% 3%


Fees and charges

Here is a rundown of all the other fees that you have to pay as well as a sample tabulation for your monthly payment ranging from 1 to 10 years of the loan tenure. 

Late Payment Fee S$30
Disbursement Fees No Charge
Cancellation Fee No Charge
Early Repayment Fee No Charge


Here are the things you need to apply

Eligibility and Requirements

  • Both the borrower and guarantor should be a Singapore citizen or a Singapore permanent resident. 
  • The borrower should be 17 to 65 years of age upon loan maturity, while the guarantor should be 21 to 65 years of age, also upon loan maturity.
  • The borrower and the guarantor should have a minimum annual income of S$18,000 and S$24,000 respectively.


Alternatively, you can apply for the loan of DBS bank, giving you access to as much as four times your monthly income instantly – provided you meet the bank’s criteria. This personal loan has the maturity option between 1 to 5 years.

  • In case you miss a month’s due, you will only pay S$30.
  • Your guarantor must be an immediate family member.
  • You can loan up to 10x your combined monthly income with your guarantor.

Want some funds to cover your education expenses? Sometimes, transacting with banks requires loads of paperwork and requirements. For a quick borrowing process, let Instant Loan connect you with the best financial institutions in Singapore that can support your financial needs!

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