Due to the current COVID-19 situation, it may take longer than expected to process your loan application. We appreciate your kind understanding and patience.
Introduction The MENDAKI Skills Training Loan aims to provide interest-free loans to Malay/Muslim workers who wish to upgrade themselves by pursuing a recognised and work-related course.
Application Period 1 January – 15 January 2022 15 February – 30 November 2022
Eligibility Criteria Applicants must meet the following requirements:
Muslim Singaporeans / Singapore Permanent Residents.
Applicants must be full-time employees at the commencement of the course
Applicant’s monthly household net per capita income must not exceed $800
Courses are limited to the pursuance of certificate only
Courses should be on a part-time basis only at accredited institution. Applications will be approved on case-to-case basis, depending on the accreditation of the institutions.
Applicants are required to furnish 2 guarantors acceptable to MENDAKI. The acceptability of the 2 guarantors will be at the discretion of the Loans Committee. The guarantors must fulfil the following requirements:
Singaporeans and residing in Singapore
Between the age of 21 and 55 years old
Basic monthly income of at least $2,000 and above, and not an undischarged bankrupt
1 out of the 2 guarantors must not be anyone staying in the same household
Must not be an existing MENDAKI loan holder or existing guarantor for other MENDAKI loan accounts
The first and second guarantor must not be from the same household
Guarantors must submit a copy of their NRIC and recent income slip. Self-employed guarantors must submit their latest IRAS form or CPF statement
Loan Agreement An email will be sent out to successful applicants once the loan is approved to notify them of the date for the signing of loan agreement. Successful applicants and their guarantors are required to sign the loan agreement in the presence of a MENDAKI officer at Wisma MENDAKI, 51 Kee Sun Avenue (off Tay Lian Teck Road), Singapore 457056. Applicant and guarantors are required to bring along their NRIC during the signing of loan agreement for verification purposes.
As per the loan agreement, the applicant (borrower) needs to observe and fulfil the following conditions:
Pass all subjects taken during the course of study
No changes in the agreed period of study
No changes in the course of study
No withdrawal or termination from the course of study/school
No deferment without any valid reasons
If the borrower does not fulfil any of the above condition or any of the term in the loan agreement, the borrower 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 Quantum One-off disbursement of maximum $3,000, or up to 70% of course fee (whichever is lower). 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.
Loan Disbursement Applicants will be notified through email on future loan disbursements. Applicants are required to submit a photocopy of their exam results in MyMendaki portal at the end of each academic year as proof of progression to the next year of study.
Loan Repayment Repayment of the loan will commence 1 month after the first loan disbursement. 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. The repayment of loan could be made via Internet Banking (DBS/POSB), PayNow, QR code payment, GIRO, NETS OR cheque. Please click here for more details on loan repayment.
Application Procedure Applications can only be made online. Processing of the applications will take at least 3 weeks from the date the full submission from applicant and guarantors are received. Applicants will be notified through email on the outcome of the application.
Incomplete applications will not be processed and applications that did not meet the eligibility criteria will be rejected.