Here, we break down the different types of loans so that you can decide whether an education loan or a personal loan is the right choice for you.
We can see that even with the same interest rate and tenure, an education loan is significantly cheaper than a personal loan due to the way interest is calculated.An important thing to note when applying for an education loan as a full-time student is that you will likely need a guarantor to co-sign the loan with you.
On the other hand, personal loans tend to have a higher income threshold. Personal loans typically require that you have a minimum annual income of S$20,000 – $30,000 to be eligible to apply. This means that personal loans are more suitable for part-time students who have a steady stream of income throughout their studies.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
434 people under probe over job, loan, love scams involving more than $10.8mThe suspected scammers and money mules are aged between 15 and 82, police said. Read more at straitstimes.com.
Read more »
US set to loan Redwood Materials $2 billion for EV materials plant:The U.S. Energy Department on Thursday made a conditional commitment to Redwood Materials for a $2 billion low-cost government loan to help build out a $3.5 billion recycling and remanufacturing complex in Nevada for battery materials.Energy Secretary Jennifer Granholm said that, if finalized, the loan will
Read more »
Redwood Materials says it wins $2 billion DOE loan for EV materials plantRedwood Materials said on Thursday it has received a conditional commitment for a $2 billion loan from the U.S. Energy Department to help build out a $3.5-billion recycling and re-manufacturing complex in Nevada for electric vehicle battery materials.Redwood Materials expects to draw down the first loan t
Read more »
Felix says couldn't get used to Atletico stylePortugal forward Joao Felix said he left Atletico Madrid to join Chelsea on loan because he was struggling to get used to the Spanish side's style of play, adding that coach Diego Simeone's philosophy is not beneficial to every player.Felix, 23, joined Atletico from Benfica for a club record fee of 126 mi
Read more »
Billie Eilish granted restraining order against man who tried to break into homeBillie Eilish has been granted a restraining order against a man who allegedly tried to break into her family home. The pop star was previously given a temporary retraining order to keep Christopher Anderson away from her and her relatives after he allegedly attempted to gain access to her parents' house in Los Angeles in January -and now she has...
Read more »
China Jan new bank loans jump more than expected to record 4.9 trln yuanBEIJING : New bank loans in China jumped more than expected to a record 4.9 trillion yuan ($720.21 billion) in January as the central bank looks to kickstart a recovery in the world's second-biggest economy after the lifting of harsh pandemic controls.A strong rebound in credit demand will be essential fo
Read more »