Application for a Medium Term Loan (With One Surety) Form
Application for a Short Term Loan Form
Application for a Personal Surety Loan Form
Application for a Medium Term Loan (Without Surety) Form
Application for a Fast Track Loan

ONLINE FORMS

Declaration:

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Terms & Conditions:

  1. 1.Applications must, if required, be in attendance at the Committee Meeting at which their applications are considered.
  2. 2.A member shall be eligible to apply for a Personal Surety loan up to the actual amount of the total of his paid-up Share Capital and Term Deposits.
  3. 3.Personal Surety loan shall ordinarily be repayable in not more than 60 monthly installments commencing from the month the loan is granted provided that the Loan Committee may in exceptional cases approve repayment over a longer period depending in the amount borrowed.
  4. 4.A member who is granted a Personal Surety loan using his Share Capital and Term Deposit(s) as eligibility shall not be allowed to withdraw his Term Deposit(s) unless the loan is fully settled.
  5. 5.Should a member cancel/withdraw his loan application after it has been processed and approved, an administrative fee not exceeding $30 shall be imposed on the applicant.

I have read and fully understand the terms and conditions.

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

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

 

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Please enter in months

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Declaration:

Terms & Conditions:

  1. 1. Applicants must, if required, attend at the Committee Meeting at which their applications are considered.
  2. 2. The limits of a Medium Term Loan are as follow:
    a) Member who has salary check-off arrangement or at least one surety, may borrow an amount not exceeding six times the borrower's monthly income plus the total paid-up Share Capital or $50,000 whichever is less; or
    b) Member who has no salary check-off arrangement and no surety, may borrow an amount not exceeding four times the borrower's monthly income plus the total paid-up Share Capital or $30,000 whichever is less.
  3. 3. Loans shall ordinarily be repayable in not more than 60 monthly instalments commencing from the month the loan is granted. The Committee may in exceptional cases approve a longer repayment period depending on the amount borrowed.
  4. 4. No refund on loan deduction shall be given to a borrower who has his old loan balance offset by the new loan granted. The money due to him shall be credited to the new loan and adjustments in deductions made subsequently.
  5. 5. This loan can be granted upon the borrower paying an in-house Loan Admin Fee.
    In the case of total and permanent disability, the next of kin is not required to settle his or her outstanding dues. Total and permanent disability must be medically certified.
    Total and Permanent Disability shall mean that the disability must be total and permanent and that there is neither at the point of commencement of the disability nor at any time thereafter any work, occupation or profession that the insured person can ever sufficiently do or follow to earn or obtain any wages, compensation or profit. The total and irrecoverable loss of sight of both eyes, or loss by severance of two or more limbs at or above the wrists or ankles, or the total and irrecoverable loss of one eye together with loss by severance of one limb above the wrist or ankle shall be considered as total and permanent disability.
    The Society will recover the net amount against the Loan Admin Fund. The net amount is derived after deduction from member's Share Capital and savings.
    The decision to write-off such default lies with the Committee of Management.
    In the case of death, the next of kin is not required to settle his or her outstanding dues.
  6. 6. Should a member cancel/withdraw his loan application after it has been processed and approved, an administrative fee not exceeding $30 shall be imposed on the applicant.
  7. 7. In case of a loan quantum of $10,000 or more, the borrower is required to provide a credit report from the Credit Bureau. The Society will ascertain the credit rating from the Credit Bureau to assess borrower's eligibility.
  8. 8. Documentary evidence is required for Educational, Medical or Renovation loan.
  9. 9. All loan applicants must not borrow from another co-operative. If a member is found to have a loan with another co-operative, his/her loan shall be recovered in full by the Society. All costs incurred shall be borne by the applicant.

I have read and fully understand the terms and conditions.

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

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

 

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

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

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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.