Application for a Fast Track Loan

FORMS

(Enter last 3 digits + last alphabet. E.g. '567A')

S$



Please enter in months ($3000:12 months or $5000:12 - 24 months)

S$

Declaration:

Terms & Conditions:

  1. 1. Only Ordinary and PCF members are eligible for this loan, Retirees (Ordinary Members) with a paid-up Share $2000 may be allowed to apply for this loan.
  2. 2. The Loan amount shall be fixed at $3000 for retiree or $5000 for working members.
  3. 3. The loan amount is repayable in 12 monthly installments for $3000 or between 12 monthly to 24 monthly installments for $5000.
  4. 4. There shall be no refund of Admin Fee should the loan be settled early.
  5. 5. Interest on the loan and an administrative fee plus GST shall be paid up front.
  6. 6. Any 2 members from the EXCO/Loan Committee may approve the loan.
  7. 7. Once the loan application is approved, the loan would be disbursed within three working days.
  8. 8. No suspension of loan repayment shall be allowed.
  9. 9. The member loan application for a main loan shall only be considered after a lapse of 3 months from the Fast Track Loan application
  10. 10.Should a member cancel/withdraw his loan application after it has beeen processed and approved, an administrative fee not exceeding $30.00 shall be imposed on the applicant.
  11. 11.Income means the total gross monthly income of the borrower before contribution to CPF and other deductions. This may include passive income (e.g. Rental income) received by the borrower.

I have read and fully understand the terms and conditions.

I acknowledge that if I wilfully suppress any material facts, my application for Fast Track Loan may be rejected.

I authorize The Singapore Teachers' Co-operative Society Ltd to process this application and approve/reject this without my signature.