What is it?
The MENDAKI Skills Training Loan aims to provide interest-free loans to Malay/Muslim employees who wish to upgrade themselves by pursuing a recognised and work-related course.
When can I apply?
13 January 2025 – 28 February 2025
1 April 2025 – 31 July 2025
1 September 2025 – 31 October 2025
How much will I get?
One-off disbursement of up to $5,000, or up to 70% of course fee (whichever is lower). The Skills Training Loan will be used to cover the remaining course fees upon deduction of the Skills Future Credit, if any.
The loan amount is at the discretion of the Loans Committee after taking into consideration the financial circumstances of the applicant, the course of study, accreditation of institution and other relevant criteria. The decision of the Loans Committee is final.
Who is eligible?
Applicants must meet the following requirements:
Muslim Singaporeans / Singapore Permanent Residents.
Applicant’s monthly household net per capita income must not exceed $750.
Courses are limited to the pursuance of certificates at accredited institutions. Applications will be approved on a case-to-case basis, depending on the accreditation of the institutions.
Applicants will be referred to MENDAKI Care Advisors for career advisory. Applicants will be required to use their Skills Future Credit or other related government grants before applying for the MENDAKI study loan.
What happens when I get a loan offer?
An email will be sent out to successful applicants once the loan is approved. Once the loan holder decides to accept the grant of the study loan, both loan holder and guarantors are required to electronically sign the loan agreement within one week of the date of agreement. Should the loan holder or guarantor fail to sign the loan agreement within the stipulated deadline, the conditional approval will be duly revoked and a new application for the study loan will have to be made.
As per the loan agreement, the loan holder needs to observe and fulfil the following conditions:
1. Pass all subjects taken during the course of study
2. No changes in the agreed period of study
3. No changes in the course of study
4. No withdrawal or termination from the course of study/school
5. No deferment without any valid reasons
If the loan holder does not fulfil any of the above condition or any of the term in the loan agreement, he will be considered to have breached the contract of the loan agreement. The full amount of the loan would have to be repaid immediately.
Loan disbursements will be made yearly to successful applicants. Applicants are required to submit a photocopy of their exam results and bank statement in MyMENDAKI portal at the end of each academic year as proof of progression to the next year of study.
How do I repay my loan?
Repayment of the loan will commence 1 month after the first loan disbursement at $50 per month. 6 months after the completion of your course, the repayment amount will increase to $100 monthly for diploma level, $250 monthly for normal degree level and $500 monthly for medicine courses. There will be an annual progressive increment of $100. Please click here for more details on loan repayment.
How to apply?
Applications can only be made online. Processing of the applications will take up to 7 weeks from complete submission of your application with the necessary attachments. Incomplete applications, applications not accepted by guarantors and applications that do not meet the eligibility criteria will not be processed. Applicants and guarantors are reminded to check your emails regularly for the progress of your application.
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