Application for NYP Notebook Computer Loan (only available to new year one students for the Academic Year 2008/2009)

The NYP Notebook Computer Loan general hotline number is 6455 0500.

TERMS & CONDITIONS TO NYP NOTEBOOK COMPUTER LOAN

REPAYMENT
The repayment of the loan can be made in one lump sum payment or by monthly instalments commencing 6 months after graduation or on graduate securing employment, whichever is earlier. Students who are required to perform National Service are however allowed to commence repayment of the loan 2 months after ORD.

The maximum repayment period is 2 years.

The minimum monthly instalment payment is $100. Penalty interest will be charged at the rate of 1% per month on instalments in arrears.

If a student leaves the Polytechnic without completing the course of study, the loan amount will immediately become due and payable. He may repay the outstanding sum by monthly instalments on such terms and conditions as the Polytechnic may, on a case-by-case basis, determine.
The repayment of instalment amounts shall be made through Interbank GIRO.

GUARANTOR
The applicant is required to provide a guarantor who is a Singapore Citizen or Permanent Resident who shall be above 21 years but not exceeding 60 years old. No income qualification is required. Parents or family members who meet the above criteria would qualify as a guarantor.

NOTIFICATION OF ORD DATE
Male students with National Service obligation must inform their ORD Date by 31 December in the year of graduation, failing which it will be assumed that they are exempted from National Service and that their repayment of the loan will start no later than the 1st day of the seventh month immediately following the month of completion of study.

CHANGES TO TERMS & CONDITIONS
The Polytechnic reserves the right to add or amend the terms and conditions of the loan at its sole discretion.