MENDAKI | Assistance

Study Loan Full Time (Local National)

Introduction
The MENDAKI Study Loan Full Time (Local National) is available for all Muslim students. It aims to uplift the educational performance of the Muslim Community by providing interest-free loans to Muslim students who require financial aid. It helps to partly finance students who are pursuing a full-time diploma or degree course at government institutions locally.

Application Period

9 January 2024 – 28 February 2024

1 April 2024 – 31 July 2024

1 September 2024 – 31 October 2024

Eligibility Criteria
Applicants must meet the following requirements:

Muslim Singaporeans / Singapore Permanent Residents
Have gained an unconditional admission for a full-time diploma or degree at local government tertiary institutions. Only students who are not receiving financial assistance under the Tertiary Tuition Fee Subsidy (TTFS) or the Supplementary Assistance Loan Scheme (SAS) are eligible to apply.
Applicants are required to furnish 1* guarantor acceptable to MENDAKI. The acceptability of the guarantor will be at the discretion of the Loans Committee. The guarantor must fulfil the following requirements:
1. Singaporean and residing in Singapore
2. Between the age of 21 and 55 years old
3. Basic monthly income of at least $2,000 and above, and not an undischarged bankrupt
4. Can be a member staying in the same household as applicant
5. Must not be an existing MENDAKI loan holder or existing guarantor for other MENDAKI loan accounts
6. Guarantor must submit a copy of their NRIC and recent income slip. Self-employed guarantor must submit their latest IRAS form or CPF statement

*NOTE : Applicants are required to furnish 2 guarantors for total course fees exceeding SGD$100,000. You may still submit the application through this form(with one guarantor) and our officers will contact you separately for submission of the second guarantor.

Loan Agreement
An email will be sent out to successful applicants once the loan is approved. Loan holders and guarantors are required to book an appointment via MyMENDAKI portal. Successful applicants and their guarantors are required to sign the loan agreement within 1 month upon approval 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
Up to 80% of tuition fee (after tuition grant) throughout entire course of study for up to 4 years.
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.

Loans 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 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. 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 up to 5 weeks from the date of a complete submission of your application. Applicants will be notified through email on the outcome of the application.

Incomplete applications, applications not accepted by guarantors and applications that do not meet the eligibility criteria will not be processed.

A gentle reminder for both loan holders and guarantors to check your emails regularly for the progress of your application.