Due to the current COVID-19 situation, it may take longer than expected to process your loan application. We appreciate your kind understanding and patience.
The MENDAKI Study Loan Part Time Degree is available for all Muslim students. It aims to uplift the educational performance of the Muslim Community by providing interest-free loans to Muslim students who require financial aid. It helps to partly finance students who are pursuing a part-time degree course locally.
1 January – 15 January 2022
15 February – 30 November 2022
Applicants must meet the following requirements:
An email will be sent out to successful applicants once the loan is approved to notify them of the date for the signing of loan agreement. Successful applicants and their guarantors are required to sign the loan agreement in the presence of a MENDAKI officer at Wisma MENDAKI, 51 Kee Sun Avenue (off Tay Lian Teck Road), Singapore 457056. Applicant and guarantors are required to bring along their NRIC during the signing of loan agreement for verification purposes.
As per the loan agreement, the applicant (borrower) needs to observe and fulfil the following conditions:
If the borrower does not fulfil any of the above condition or any of the term in the loan agreement, the borrower will be considered to have breached the contract of the loan agreement. The full amount of the loan would have to be repaid immediately.
Maximum $4,000 per annum throughout course of study for up to 4 years, or up to 80% of course fee (whichever is lower).
The loan amount is at the discretion of the Loans Committee after taking into consideration the financial circumstances of the applicant, the course of study, accreditation of institution and other relevant criteria. The decision of the Loans Committee is final.
Applicants will be notified through email on future loan disbursements. Applicants are required to submit a photocopy of their exam results in MyMendaki portal at the end of each academic year as proof of progression to the next year of study.
Repayment of the loan will commence 1 month after the first loan disbursement at $50 monthly. 6 months after the completion of your course, the repayment amount will increase to $100 monthly for diploma level, $250 monthly for normal degree level and $500 monthly for medicine courses. There will be an annual progressive increment of $100. The repayment of loan could be made via Internet Banking (DBS/POSB), PayNow, QR code payment, GIRO, NETS OR cheque.
Applications can only be made online. Processing of the applications will take at least 3 weeks from the date the full submission from applicant and guarantors are received. Applicants will be notified through email on the outcome of the application.
Incomplete applications will not be processed and applications that did not meet the eligibility criteria will be rejected.