Introduction

The MENDAKI Study Loan Full-Time Scheme (Postgraduate) is aimed at uplifting the educational performance of the Muslim Community by providing interest-free loans to needy Muslim students. It is to part-finance students pursuing full-time course leading to a Masters of PhD, locally or overseas.

Eligibility Criteria

Applicants must meet the following requirements:-

1) Muslim Singaporeans

2)Have gained an unconditional admission to do a full-time Masters or PhD at

• Local government tertiary institutions namely:
  • National University of Singapore
  • Nanyang Technological University and
  • Singapore Management University.
• Accredited local private institutions of higher learning
• Accredited overseas institutions of higher learning

3) Sign an agreement with MENDAKI for the repayment of loan. Applicants are required to furnish 2 guarantors acceptable to MENDAKI. The acceptability of the 2 guarantors will be at the discretion of the Loans Committee. The guarantors must fulfill the following requirements :

• Singaporeans
• Between the age of 21 and 55 years old
• Gross monthly income of at least $1,500 and above
• Gainfully employed for the past 1 year
• Must not be the applicant's parents, siblings or staying in the same household
• The first and second guarantor must not be from the same household
• Guarantors must submit a copy of their NRIC and recent income slip (the information will be kept confidential)
• Update latest address by giving a photocopy of their NRIC at the time of final cheque disbursement
• Self-employed guarantors must submit their latest IRAS form or CPF statement

Loan Agreement

A letter will be mailed out to the applicant once the loan is approved to notify on the date for the signing of loan agreement and collection of cheque. Successful applicants and their guarantors are required to sign the loan agreement in the presence of YM officer at Wisma MENDAKI, 51 Kee Sun Avenue (off Tay Lian Teck Road) Singapore, 457056. Applicant and guarantors are reminded to bring along their NRIC during the signing of loan agreement for verification purposes. As per the loan deed, the borrower needs to observe and fulfill the following conditions:

• Passing all subjects taken during the course of study;
• No changes in the agreed length of study
• No changes in the course of study
• No withdrawal or termination from the course of study/school
• No deferment without any valid reasons
• Graduate within the curriculum duration of study

If the borrower does not fulfill one of the above condition or any of the term in the loan agreement, the borrower will be considered to have breached the contract of loan agreement. The full amount of the loan would have to be repaid immediately.

Loan Quantum

Loan Repayment

Repayment of the loan will commence 6 months after the completion of course. The minimum monthly repayment amount is as follows:

• Postgraduate courses - $500

This is subject to an annual progressive increment of $100. The repayment of loan could be made via cash, cheque, NETS, GIRO or Internet Banking six months upon completion of course