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Last Updated:  23 Jun 2026

Banker's guarantee

You must obtain a banker’s guarantee for the deferment of your Tuition Grant bond. Learn how it is calculated, the steps to apply and how to request its discharge.

Overview

The banker's guarantee (BG) serves as a security deposit to ensure that you fulfil your Tuition Grant bond obligation after your deferment ends.

Should you fail to return to Singapore to serve your bond, MOE reserves the right to claim the deposited sum from the financial institution where the BG was placed.

The amount for the BG is calculated based on the estimated liquidated damages (LD).

How to apply for a BG

  1. Apply for bond deferment through the TG&S Portal
    You will receive an email within 5 working days with instructions on applying for a BG, including the required BG amount, effective date and expiry date.
  2. Contact your preferred bank
    • Most major banks in Singapore offer BG services.
    • You can check directly with your preferred bank or visit their website for information on their specific requirements, fees and processing times.
    • Some banks may require you to apply in person at a branch.
  3. Apply for the BG
    • Complete the BG application form provided by the bank, referring to our email for the necessary information.
    • Banks may take up to 3 weeks to process your application.
    • Once approved, the bank will deliver the BG electronically to MOE.
  4. Receive deferment approval email
    Once your bond deferment is approved, you will receive a confirmation email from MOE. Your deferment status on the TG&S Portal will also be updated to "Approved". 
 
  • If you are under 21 years old, you can set up a joint account with someone over 21 to obtain a BG.
  • From 2 October 2023, MOE will only accept BGs delivered electronically to MOE as part of the eGuarantee@Gov initiative.

How to request the discharge of your BG

You may request the return of your BG when you have:

  • Completed your further studies or decided to terminate your further studies.
  • Returned from your overseas employment.
  • Completed National Service (NS) in your home country.
  1. Log in to the TG&S Portal and locate your deferment program
    • If you have completed your further studies
      Upload a copy of your completion letter and full transcript in Report Deferment Completion and proof of employment in Return of Banker's Guarantee.
    • If you have completed your overseas employment or NS in your home country
      Upload proof of employment in Return of Banker's Guarantee.
    MOE will be in touch if any additional supporting documents are required.
  2. MOE will facilitate the release of funds held under your BG
    • If you hold a hardcopy BG, MOE will issue a release letter. Bring this letter and your hardcopy BG to the bank branch along to apply for the release of funds.
    • If your BG was delivered electronically to MOE, MOE will instruct the bank to release the funds on your behalf.
  3. Receive notification from bank
    • The bank will notify you (or the account holder) once the BG discharge process has been completed.
    • For any enquiries regarding processing time or other matters relating to your BG, you can contact the bank directly.
 

BG in hardcopy format
A BG release letter will be issued to you when you report to MOE with the required information and documents. When applying for the release of funds at the bank, please ensure you bring this letter along with your original BG.

BG in electronic format
MOE will instruct the bank to release the funds placed under your BG. You should receive notification from the bank once the fund release process has been finalised.

Have questions?
Find out more in FAQs on deferment.