Loans
General Rules
- Only POLWEL Ordinary Members are eligible to apply for loans.
- For early settlement of loan (with more than 6 months of repayment), 80% rebate on the remaining interest will be given.
- For settlement of outstanding loan, members can pay through the following methods:
- Transfer via internet banking
- Transfer via PayNow UEN
- Cheque/ Cashier’s Order
For enquiries or more information, please contact our Financial Services Division at 6235 6428 (option 1) or email us at fsd@polwel.org.sg.
- Education Loan
- Marriage Loan
- Bundle of Joy Loan
- Renovation Loan
- Eco-Reno Loan
- Product Loan
- Medical Loan
- Emergency Loan
Education Loan is extended to assist members to cover for their own and/or their immediate family members’ tuition fees for academic qualifications or course fees for professional certifications.
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*Immediate family member(s) include spouse, children, parents and siblings. |
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Guarantor Requirements |
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Documents Required:
Applicant |
NRIC |
Warrant Card or Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Original invoice(s) or payment receipt(s) from education institution or training organisation |
Proof of relationship (for loans covering immediate family members) |
Additional documents may be required for assessment of loan application.
Marriage Loan is extended to assist members to fund for their dream wedding.
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Guarantor Requirements |
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Documents Required
Applicant |
NRIC |
Warrant Card or Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Original invoice(s) or payment receipt(s) from vendor(s) |
Additional documents may be required for assessment of loan application
Bundle of Joy Loan seeks to assist members financially with their impending new arrival to the family. It is intended to help defray medical expenses incurred by the member or the member’s spouse, including the costs for assisted fertility treatments, maternity, infancy care and any related complications.
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Other Information: |
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Guarantor Requirements |
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Documents Required
Applicant |
NRIC |
Warrant Card or Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Original invoice(s) or payment receipt(s) from medical institution(s) |
Additional documents may be required for assessment of loan application
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Other Information: |
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Guarantor Requirements |
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Documents Required
Applicant |
NRIC |
Warrant Card or Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Original renovation quotation (signed off by renovation contractor and loan applicant) or invoice(s) |
Proof of home ownership |
Additional documents may be required for assessment of loan application
Eco-Reno Loan is extended to assist members to renovate their dream home that incorporates eco-friendly features.
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Other Information: |
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Guarantor Requirements |
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Documents Required
Applicant |
NRIC |
Warrant Card of Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Original renovation quotation (signed off by renovation contractor and loan applicant) or invoice(s) |
Proof of home ownership |
Additional documents may be required for assessment of loan application
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Applicable Fees: |
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Other Information: |
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Guarantor Requirements |
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Documents Required
Applicant |
NRIC |
Warrant Card or Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Product(s) specifications |
Additional documents may be required for assessment of loan application
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Applicable Fees: |
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Other Information: |
*Immediate family member(s) include spouse, children, parents and siblings. |
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Guarantor Requirements |
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Documents Required
Applicant |
NRIC |
Warrant Card or Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Original invoice(s) or payment receipt(s) from medical institution(s) |
Proof of relationship (for loans covering immediate family members) |
Additional documents may be required for assessment of loan application
Examples:
- Unexpected death of a loved one
- Sudden unemployment of member’s next-of-kin
- Short-term caregiving needs
- Emergency pet surgery
- Urgent car repairs
- Other extenuating circumstances (evaluated on a case-by-case basis).
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Applicable Fees: |
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Other Information: |
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Guarantor Requirements |
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Documents Required
Applicant |
NRIC |
Warrant Card of Staff ID Card |
Latest 3 months’ payslip |
CBS Report |
Loan Application Form |
Invoice/ Quotations/ Receipts |
Bank Details showing Name and Bank account number bearing the bank’s logo/ name |
Additional documents may be required for assessment of loan application
Loan Calculator
Calculate your estimated monthly repayment based on your preferred loan amount and tenure.