Singapore Loan Rates: CPF Study Loan Rate
What is the CPF Study Loan Rate? What is CPF study loan? Can you borrow money from CPF to fund your educational expenses?
We tell you more about CPF study loan and the CPF study loan rate.
The CPF Education Scheme is a loan scheme.
The total amount withdrawn for tuition fees plus accrued interest has to be repaid in full with cash.
Repayment of CPF study loan will start one year after date of graduation or date of leaving the institution, whichever is earlier.
Interest starts accruing from the day of withdrawal, and is pegged to the prevailing CPF Ordinary Account interest rate.
As a student taking a full-time government subsidized course leading to a diploma or degree at an approved local tertiary institution, you may apply for a CPF study loan from your own or your parent’s CPF savings to pay your tuition fees.
Current CPF rate is 2.5% pa.
Hence CPF study loan rate is 2.5% per annum but that is subject to change according to prevailing CPF rules.
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