Loan Forms

Applicant's Name (As in NRIC)

Applicant's NRIC No (Enter last 3 digits + last alphabet. E.g. '567A')

Marital Status

Date of Birth (DD/MM/YYYY)

Home Address

Postal Code

Email Address

Mobile No.

Medium Term Loan Amount

Medium Term Loan Amount in Words

Medium Term Loan Application Purpose

Repayment Period (months)

Total Monthly Income

Submission of Latest Payslip & Other Sources of Income

Submission of Supporting Document

Declaration:

Have you taken a loan from another co-operative?

Have you been served with bankruptcy proceedings or reported to be a judgment debtor?

Have you signed a promissory note or an acknowledgement of indebtedness as a principal or surety?

Are you a bankrupt?

I declare that I will settle the loan in full upon my resignation/retirement from service

Date of Application

Terms & Conditions:

1. 1. Applicants if required must be in attendance at the Loan 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 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 $50 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. By providing the information set out in this agreement, I agree and consent to The Singapore Teachers’ Co-operative Society Ltd (STCS) as well as their respective duly authorised representatives and agents (collectively, “Representatives”) collecting, using, disclosing and sharing amongst themselves from time to time my personal data provided above as well as in the records of STCS (if any), and disclosing such personal data to STCS’s duly authorised service providers and/or relevant third parties for purposes reasonably required by STCS and/or its Representatives (as the case may be) to provide me with the products and/or services that I am requesting for. Such purposes are set out in the Data Protection Policy, which is available at http://www.teachersco-op.org.sg or on request, and which I confirm I have read and understood.

I have read and fully understood the terms and conditions.
Agreed

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

I authorise The Singapore Teachers’ Co-operative Society Ltd to process this application and approve/reject it without my signature.
Agreed

Applicant's Name (As in NRIC)

Applicant's NRIC No (Enter last 3 digits + last alphabet. E.g. '567A')

Marital Status

Date of Birth (DD/MM/YYYY)

Home Address

Postal Code

Email Address

Mobile No.

Fast Track Loan Amount

Fast Track Loan Amount in Words

Repayment Period (months)

Total Monthly Income

Submission of Latest Payslip & Other Sources of Income

Submission of Supporting Document

Declaration:

Have you taken a loan from another co-operative?

Have you been served with bankruptcy proceedings or reported to be a judgment debtor?

Have you signed a promissory note or an acknowledgement of indebtedness as a principal or surety?

Are you a bankrupt?

I declare that I will settle the loan in full upon my resignation/retirement from service

Date of Application

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. Once the loan application is approved, the loan would be disbursed within three working days.
7. 7. No suspension of loan repayment shall be allowed.
8. 8. Should a member cancel/withdraw his loan application after it has been processed and approved, an administrative fee not exceeding $50 shall be imposed on the applicant.
9. 9.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. Receipt from passive income should be submitted during application.
10. 10.By providing the information set out in this agreement, I agree and consent to The Singapore Teachers’ Co-operative Society Ltd (STCS) as well as their respective duly authorised representatives and agents (collectively, “Representatives”) collecting, using, disclosing and sharing amongst themselves from time to time my personal data provided above as well as in the records of STCS (if any), and disclosing such personal data to STCS’s duly authorised service providers and/or relevant third parties for purposes reasonably required by STCS and/or its Representatives (as the case may be) to provide me with the products and/or services that I am requesting for. Such purposes are set out in the Data Protection Policy, which is available at http://www.teachersco-op.org.sg or on request, and which I confirm I have read and understood.

I have read and fully understood the terms and conditions.
Agreed

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

I authorise The Singapore Teachers’ Co-operative Society Ltd to process this application and approve/reject it without my signature.
Agreed