Bank Loans & Subsidies

You can now fulfill your education dreams and goals through financial aids and flexible payment systems with specially arranged payment schemes with our privilege banking.

Education Loans:
POSB Study Assist:

• Competitive interest rate of 5.88% per annum
• Loan up to 6 times your monthly income
• Up to 60 months hassle-free repayment
• Peace of mind with fixed interest.
• No cost for request of subsequent cheques
• Qualifying age from 17 years old
• Qualifying income at
  S$12,000 p.a. for applicant and
  S$18,000 p.a. for guarantor
• No prepayment penalty

RHB:

• Low interest rates of 4.88% per annum* for your local or overseas studies
• High loan amount of up to 6 times* your monthly income or S$100,000, whichever is lower
• Easy repayment period of up to 10 years
• Free personal accident insurance coverage of up to 10 years
• Students can choose from 3 flexible repayment options:
• Standard Repayment – basic scheme where you pay your monthly installments (principal and interest) once your loan is disbursed.
• Graduated Repayment – pay only interest for the loan disbursed until completion of your study, monthly installments will commence thereafter.
• Deferred Repayment (for full time local study only) – pay your monthly installments only after completion of your study, no payment is required during your study period.

Citibank:

Interest-Free Installment Payment Schemes
Applicants can now enjoy interest-free installment payment schemes of between 6, 12 and 24 months on the following credit cards. Simply present your credit card when making payment at the ERCI River Valley Main Campus or the ERCI Robinson Centre Corporate Office, and ask for the interest-free installment payment scheme.

DBS Credit Cards: Choose from 6 or 12 month interest-free installment payment scheme
UOB Credit Cards: Choose from 6 or 12 month interest-free installment payment scheme
Citibank Credit Cards: Choose from 6 or 12 month interest-free installment payment scheme

Skills Development Fund (SDF):

ERCI accepts the following payment methods:

• Cheque (please make the cheque payable to "ERC Institute Pte Ltd")
• GIRO deduction of company account
  Condition: The interbank GIRO form must be endorsed by company bank and verified by WDA

An official receipt for any and all payments made to ERCI will be provided to all our customers. Should we fail to provide you with a receipt for any payment, please email to enquiry@erci.edu.sg or call 6349 2727 to request for one.

Skills Development Fund (SDF) Training Assistance Scheme

For students under the SDF scheme, the supported amount of the tuition fee will be claimed from SDF by ERCI upon the completion of the course with the following SDF requirements:

• The participant must satisfy all SDF terms and conditions.
• The participant must achieve 75% attendance (participants must sign on the attendance form when attending classes).
• The participant must complete all course assessments.

For students that are under the SDF training assistance, the instalment of unsupported tuition fee is payable by company cheque* or payment by GIRO deduction of company account to "ERC Institute Pte Ltd" in Singapore Dollars.
* Unless the business is a sole proprietorship.