Only students who enrol under the following programmes are eligible to apply for the TFL:

1. Graduate Research programmes
2. Full-time government-subsidised Graduate Coursework programmes, including the following:
   • Programmes conducted by Lee Kuan Yew School of Public Policy, Saw Swee Hock School of Public Health, Duke-NUS Medical School and Institute of Systems Science.

The following categories of graduate students are not eligible to apply for the TFL:

1. Students in government-subsidised programmes who are not in receipt of MOE subsidy::
   • Students who are not eligible for MOE subsidy
   • International Students who are not on Service Obligation Scheme
2. Holders of Scholarship/Fellowship/Tuition Fee Allowance
3. MOE Scholarship/Bursary holders
4. PSC Scholarship/Bursary holders
5. SAF Awards holders
6. Part-time coursework students
7. Students in self-funded programmes

a. Interest Rate

Interest at the average of the prime rates of DBS, OCBC and UOB, prevailing on the first day of each quarter or at such other rates as may be determined from time to time will be chargeable on the loan upon graduation of the borrower. Interest will be chargeable with effect from the following dates based on the graduation period:

For this purpose, “graduation” shall be deemed to have taken place when the borrower passes the final examination (main or re-examination) or is deemed to have fulfilled all the requirements for the award of the degree. Interest is computed on a monthly rest basis on a 365-day year. In the event that the borrower leaves NUS without completing the graduate programme, interest will be chargeable with effect from the first day of the month immediately following the month in which notification is given to the bank.

b. Repayment

The repayment terms are as follows:

• Repayment of the loan can be in one lump sum or by equal monthly instalments commencing not later than two years from the date that interest is first chargeable on the loan.
• The minimum amount of repayment is $100 per month and the maximum repayment period is 20 years.
• In the event that the borrower leaves the University without completing the graduate programme, the loan outstanding will immediately become due and payable. The borrower may, however, repay the outstanding sum by monthly instalments on such terms and conditions as the University may allow depending on the circumstances of each case.
• Early repayment of the loan in full or in part will be allowed after 7 working days’ written notice has been given. Partial repayment may be made in multiples of $1,000.

c. Guarantor

One guarantor above 21 years but not exceeding 60 years will be required. There is no minimal income requirement. Applicants who are Singapore citizens must provide guarantors who are Singapore citizens.

d. Late Payment Charge

Penalty interest will be levied at the rate of 1% per month on instalments in arrears.

The University has appointed the following banks as agents to administer the TFL scheme:

• Development Bank of Singapore (DBS Bank)
• Overseas-Chinese Banking Corporation (OCBC Bank)

To apply for loans under the TFL scheme, you are required to do the following:

* If the deadline falls on a public holiday, it will be extended to the following Monday.

International students can apply TFL.  The following process applies.

For DBS bank TFL application:

1. Borrower complete the application form and Letter of Offer and mail completed forms to the Guarantor.
2. The Guarantor can then sign the application form and Letter of Offer in the presence of a Notary Public. The notary public must then endorse on the application form where the guarantor signed.
3. The Guarantor can then mail the completed application form and Letter of Offer to the Borrower, together with a photocopy of his/her identity card / passport.
4.  The Borrower can then proceed to submit all the above to any DBS branch and sign the application form and the bank’s Letter of Offer in the presence of a bank officer and submit the application. He/she must also bring along his/her identity card/passport and a copy of the University’s Letter of Offer for Admission for verification purposes.

For OCBC bank TFL application:

1. Borrower complete the application form and Letter of Offer and mail completed forms to the Guarantor.
2. The Guarantor can then sign the application form and Letter of Offer in the presence of the Singapore Embassy or Notary Public who must then endorse on the application form and Letter of Offer where the guarantor signed.
3. Amendments to the application form and Letter of Offer should be done in the presence of the Singapore Embassy or Notary Public who has to sign/seal beside each amendment.
4. The Guarantor can then mail the completed application form and Letter of Offer to the Borrower, together with a photocopy of his/her identity card (Singaporean or PR)/valid passport (foreigner) which is signed/sealed by the Singapore Embassy or Notary Public.
5. The Borrower can then proceed to submit all the above to any OCBC branch and sign the application form and the bank’s Letter of Offer in the presence of a bank officer and submit the application. He/she must also bring along his/her identity card (Singaporean or PR)/valid passport (foreigner) and a copy of the University’s Letter of Offer for Admission for verification purposes.

Students who require further clarification on the TFL scheme may contact: