Due to the current Covid-19 situation, the processing of loan applications may take longer. We seek your kind understanding.
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The MENDAKI Skills Training Loan Scheme is aimed at providing interest-free loans to Malay/Muslim workers to upgrade themselves by pursuing a recognized and work-related course.
1 Jan 2020 – 30 Nov 2020
An email will be sent 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 TayLian 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:
If the borrower does not fulfil 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.
One-off disbursement of maximum $3,000 or 70% of course fee (whichever is lower). The loan amount is at the discretion of the Loan Committee, after taking into consideration the financial circumstances of the applicant, the course of study and any other relevant criteria. The decision of the Loans Committee is final.
Repayment of the loan will commence 1 month after the loan disbursement. The minimum monthly repayment amount is as follows:
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.
The application can only be made online here. Processing of the applications will take 3 weeks from the date the application is received. Students will be notified through email on the outcome of the application. Successful applicants are required to pay an administrative fee of $50.00. For further clarification, please call our customer service officers at 6245 5555.
Incomplete application will not be processed and application that did not meet the eligibility criteria will be rejected.