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FRANK X SMU STUDENT LOAN

FOR SMU STUDENTS – MANAGING YOUR STUDENT LOAN

We’ve taken over the administration of your MOE-funded loan, and we’re here to help you. Scroll down to find out what are your next steps!

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How to apply

INSTRUCTIONS FOR SMU STUDENTS

FOR EXISTING SMU BORROWERS

Here are the instructions on your student loan that you need to follow.

  • If you've graduated and are paying monthly instalment

    Your monthly instalment amount due on 1 February 2024 should still be paid to SMU in accordance with your current payment arrangement.

    We must receive your monthly instalment payment to OCBC by 1 March 2024.

    Please visit the SMU FRANK outlet to submit your payment instruction. Do ensure your payment instructions are submitted early to OCBC to ensure that the payment takes effect before your monthly instalment 1 March 2024 is due.

    To make payment to OCBC Bank, you have two options:

    • Application for GIRO form: to pay the loan using funds from a non-OCBC account through GIRO. Please factor in enough time (i.e. around 4 to 6 weeks) for your GIRO instruction to take effect.
    • Application for Repayment form: to pay the loan using funds from an OCBC account no later than 20 February 2024 for the instructions to take effect by the next monthly instalment due by 1 March 2024.

    The respective forms are enclosed in the letter or email sent to you.

    SMU FRANK outlet opening hours are:
    Mondays to Fridays from 11am – 7pm.
    70 Stamford Road #B1-43
    Singapore Management University
    (Li Ka Shing Library)
    Singapore 178901

    Alternatively, you can mail the forms to the following addresses:

    Submit your Application for GIRO form to:
    OCBC Bank, Consumer Loan Operations
    31 Tampines Ave 4 #01-01 Tampines Centre Two
    Singapore 529680

    Submit your Application for Repayment form to:
    OCBC Bank, Consumer Loan Operations
    31 Tampines Ave 4 #03-00 Tampines Centre Two
    Singapore 529680

    If you wish to make partial or full repayment, contact us for the latest total outstanding amount as interest is charged on a daily basis.

  • If you've graduated and need to set up your monthly instalment

    To give us your payment instructions, please complete and submit the Application for Repayment form. You may choose one of the following payment arrangements:

    • A monthly instalment of at least SGD 100 a month over a maximum repayment period of 20 years*.
    • Partial or full repayment with a minimum amount of SGD 1,000 at any time.
    • A combination of monthly instalments and partial repayment.

    Do ensure that you give us your instructions before the payment due date stated in your letter. If you do not, a monthly instalment amount of SGD 100 will be automatically set under your loan account.

    If you have been granted a deferred payment under SMU’s loan administration, the monthly instalment that you had previously stated will resume when the deferment period ends. Please make payment by the deferred payment due date.

    If you wish to make partial or full repayment, please contact us for the latest total outstanding amount as interest is charged on a daily basis.

    *Any amount which remains outstanding thereafter shall become immediately due and payable.

  • If you're still studying

    No action is required from you at this time. Interest will commence upon graduation.

FOR NEW SMU BORROWERS

  • If you are a new SMU borrower

    From 22 January to 28 February 2024, SMU students can now apply for their MOE loans at the SMU FRANK branch from Monday to Friday. This includes:

    Visit the SMU FRANK outlet or any OCBC branch with your guarantor to apply for your MOE TFL, SL and/or OSP at:
    70 Stamford Road #B1-43
    Singapore Management University
    (Li Ka Shing Library)
    Singapore 178901

    For Tuition Fee Loan applications, please fill in the application form and bring along your ID, the completed application form and the relevant documents to the SMU FRANK outlet with your guarantor.
    The Tuition Fee Loan application form can be downloaded from our Tuition Fee Loan page.

    For Study Loan and/or Overseas Study Programme Loan applications, please first apply via the SMU OASIS > Self-service Application* “Financial Aid Application”. Once you have successfully applied, you will receive a letter of approval and loan agreement by SMU. Please visit the SMU FRANK outlet with your guarantor and bring along your ID, letter of approval and loan agreement by SMU.

  • I am a SMU student with a MOE loan and I am paying my monthly instalment. How do I change my repayment options from SMU to OCBC Bank?

    Please arrange to cancel your existing GIRO arrangement with SMU after the deduction of your February 2024 instalment has been processed (i.e. after your bank account shows that the instalment has been deducted from your bank account).

    You will need to submit a new payment instruction to the SMU FRANK outlet for your future monthly instalments. We must receive your monthly instalment payment no later than 1 March 2024.

    Please submit your payment instructions early to the SMU FRANK outlet to ensure that the payment to OCBC take effect before your monthly instalment 1 March 2024 is due.

    We must receive your monthly instalment payment to OCBC by 1 March 2024.

    To make payment to OCBC Bank, you have two options:

    • Application for GIRO form: to pay the loan using funds from a non-OCBC account through GIRO. Please factor in enough time (i.e. around 4 to 6 weeks) for your GIRO instruction to take effect.
    • Application for Repayment form: to pay the loan using funds from an OCBC account no later than 20 February 2024 for the instructions to take effect by the next monthly instalment due by 1 March 2024.

    The respective forms are enclosed in the letter or email sent to you.

    The forms can also be downloaded by visiting the FRANK by OCBC website > For Students > MOE Loan Schemes for SMU. Please submit your form to the SMU FRANK outlet.

    For more details, visit go.ocbc.com/smuloans

  • Where can I submit my payment instructions to OCBC for my monthly instalment or partial/full repayment of my student loan?

    Please visit the SMU FRANK outlet to submit your payment instruction.

    SMU FRANK outlet opening hours are:
    Mondays to Fridays from 11am – 7pm.
    70 Stamford Road #B1-43
    Singapore Management University
    (Li Ka Shing Library)
    Singapore 178901

    Alternatively, you can visit any OCBC branch or mail the forms to the following addresses:

    Mail your Application for GIRO form to:
    OCBC Bank, Consumer Loan Operations
    31 Tampines Ave 4 #01-01 Tampines Centre Two
    Singapore 529680

    Mail your Application for Repayment form to:
    OCBC Bank, Consumer Loan Operations
    31 Tampines Ave 4 #03-00 Tampines Centre Two
    Singapore 529680

  • How will I know if my payment instruction has taken effect?

    Application for GIRO form: if you are paying the loan using funds from a non-OCBC account through GIRO, you will receive a notification from the other bank, if your GIRO instruction is successful.

    Application for Repayment form: if you are paying the loan using funds from an OCBC account, you will receive a notification from OCBC, if your payment instruction is successful.

    Please factor in enough time for your payment instructions to take effect.

    If you have not received a confirmation that your payment instruction is successful, you’re advised to make your monthly instalment before 1 March 2024 through the following means:

    • (i) Drop a cheque at the OCBC cheque deposit box with your loan account number written on the back of the cheque. You can find your loan account number on the letter/email that had been sent to you by OCBC; or
    • (ii) Cash payment at the OCBC branch
  • What happens if my payment instructions has not yet taken effect?

    We must receive your monthly instalment payment to OCBC by 1 March 2024.

    If you have not received a confirmation that your payment instruction is successful, you’re advised to make your monthly instalment payment before 1 March 2024 through the following means:

    • (i) Drop a cheque at the OCBC cheque deposit box with your loan account number written on the back of the cheque. You can find your loan account number on the letter/email that had been sent to you by OCBC; or
    • (ii) Cash payment at the OCBC branch
  • When do I have to pay current monthly instalment?

    Your monthly instalment is due on the first business day of the month. We must receive your monthly instalment to OCBC by 1 March 2024.

    Please submitted your payment instruction using the Application for GIRO or the Application for Repayment form. Alternatively, you can make payment for your monthly instalment before 1 March 2024 through the following means:

    • (i) Drop a cheque at the OCBC cheque deposit box with your loan account number written on the back of the cheque. You can find your loan account number on the letter/email that had been sent to you by OCBC; or
    • (ii) Cash payment at an OCBC branch
EXCLUSIVELY FOR SMU STUDENTS

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