Why do I need to download digibank?
Digibank is required for the purpose of authenticating your identity when applying for the loan online. Also when you go through the digibank authentication process we will then be able to auto-populate the digital form with your personal particulars based on the Bank’s records to save you the hassle of filling it in.
Additionally, having digibank will subsequently allow you access to the Bank’s numerous digital services such including the following service requests which are related to your loan:
- Change in Loan Quantum / Change of First Disbursement Year and Semester
- Deferment of Loan Repayment and/or Interest
- Change of Guarantor
- Loan Repayments
Am I able to submit my loan application digitally without digibank?
No. Digibank is required for the digital loan application.
Can I choose to submit the hardcopy application form at the Branch instead?
Submission of hardcopy application forms are currently only applicable to applications if their Guarantor is a Foreigner that is neither working nor residing in Singapore. You may email help-schoolfee@rp.edu.sg to request for an application form. Students are required to go personally to DBS Raffles Place Branch for the hardcopy submission.
Why do I need to open an account?
Currently only Foreigners need to open an account while registering for digibank as there are additional verifications that are required to be completed that can only take place during account opening.
However please be reassured that there is no financial commitment that is required of you as accounts such as My Account do not require minimum balance, initial deposits, and there is no service charge.
What if I’m unable to submit or encounter difficulties in submitting my application?
You may contact DBS Customer Support if you encounter any difficulties.
Am I able to check the application status after I have submitted the application online?
Yes. Once you have submitted your application you will receive a confirmation email with instructions and steps to guide you through on how to retrieve and check your application status.
How long will you take to process my loan application?
We will process your application within 7 working days from the day we receive the full application i.e. after the Guarantor completes his/her leg of the digital application. Do remind your Guarantor to continue the application after you have submitted your leg of the application. To avoid unnecessary delays, please also do watch out for any emails from the Bank in case we need to reach you for further clarifications/documents.
Will I be notified after my loan application is processed?
Yes. You will receive a letter from DBS once your loan is processed.