Loans
- Only POLWEL Ordinary Members are eligible to apply for loans.
- POLWEL reserves the right to reject the loan application without assigning any reason whatsoever.
- 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
- Cheque/ Cashier’s Order
For enquiries or more information, please contact our Financial Services Division at 6235 6428 or email us at fsd@polwel.org.sg.
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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Guarantors
- Must be serving member(s) of the Singapore Police Force
- Must be of equivalent or higher rank with equivalent or higher salaries
Loan Amount | Number of Guarantors Required |
Above $2,000 to $6,000 | 1 |
Above $6,000 | 2 |
Documents Required
Applicant | Guarantor |
NRIC | NRIC |
Warrant Card or Staff ID Card | Warrant Card or Staff ID Card |
Latest 3 months’ payslip | Latest 3 months’ payslip |
CBS Report (for loans exceeding $10,000) | CBS Report (for loans exceeding $10,000) |
Proof of relationship (for loans covering immediate family members) | |
Original invoice(s) or payment receipt(s) from educational institution or training organisation |
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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Guarantors
- Must be serving member(s) of the Singapore Police Force
- Must be of equivalent or higher rank with equivalent or higher salaries
Loan Amount | Number of Guarantors Required |
Above $2,000 to $6,000 | 1 |
Above $6,000 | 2 |
Documents Required
Applicant | Guarantor |
NRIC | NRIC |
Warrant Card or Staff ID Card | Warrant Card or Staff ID Card |
Latest 3 months’ payslip | Latest 3 months’ payslip |
CBS Report (for loans exceeding $10,000) | CBS Report (for loans exceeding $10,000) |
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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Guarantors
- Must be serving member(s) of the Singapore Police Force
- Must be of equivalent or higher rank with equivalent or higher salaries
Loan Amount | Number of Guarantors Required |
Above $2,000 to $6,000 | 1 |
Above $6,000 | 2 |
Documents Required
Applicant | Guarantor |
NRIC | NRIC |
Warrant Card or Staff ID Card | Warrant Card or Staff ID Card |
Latest 3 months’ payslip | Latest 3 months’ payslip |
CBS Report (for loans exceeding $10,000) | CBS Report (for loans exceeding $10,000) |
Original invoice(s) or payment receipt(s) from medical institution(s) |
Additional documents may be required for assessment of loan application
Renovation Loan is extended to assist members to renovate their dream home.
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Guarantors
- Must be serving member(s) of the Singapore Police Force
- Must be of equivalent or higher rank with equivalent or higher salaries
Loan Amount | Number of Guarantors Required |
Above $2,000 to $6,000 | 1 |
Above $6,000 | 2 |
Documents Required
Applicant | Guarantor |
NRIC | NRIC |
Warrant Card or Staff ID Card | Warrant Card or Staff ID Card |
Latest 3 months’ payslip | Latest 3 months’ payslip |
CBS Report (for loans exceeding $10,000) | CBS Report (for loans exceeding $10,000) |
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
POLWEL can help members source for the product and extend a loan for the purchase.
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Guarantors
- Must be serving member(s) of the Singapore Police Force
- Must be of equivalent or higher rank with equivalent or higher salaries
Loan Amount | Number of Guarantors Required |
Above $2,000 to $6,000 | 1 |
Above $6,000 | 2 |
Documents Required
Applicant | Guarantor |
NRIC | NRIC |
Warrant Card or Staff ID Card | Warrant Card or Staff ID Card |
Latest 3 months’ payslip | Latest 3 months’ payslip |
CBS Report (for loans exceeding $10,000) | CBS Report (for loans exceeding $10,000) |
Additional documents may be required for assessment of loan application
Medical Loan is extended to help defray medical expenses (for essential medical treatments that qualify for claims under Medisave) incurred by members for themselves or their immediate family members.
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Other Information: |
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Guarantors
- Must be serving member(s) of the Singapore Police Force
- Must be of equivalent or higher rank with equivalent or higher salaries
Loan Amount | Number of Guarantors Required |
Above $2,000 to $6,000 | 1 |
Above $6,000 | 2 |
Documents Required
Applicant | Guarantor |
NRIC | NRIC |
Warrant Card or Staff ID Card | Warrant Card or Staff ID Card |
Latest 3 months’ payslip | Latest 3 months’ payslip |
CBS Report (for loans exceeding $10,000) | CBS Report (for loans exceeding $10,000) |
Proof of relationship (for loans covering immediate family members) | |
Original invoice(s) or payment receipt(s) from medical institution(s) |
Additional documents may be required for assessment of loan application