SGM offers all our members various types of personal financings. There are two types; secured financings and unsecured financings. Our Shariah advisor is PERGAS Investment Holdings and we are currently converting our conventional loans to be aligned with Shariah.

For unsecured financings, a surety (i.e. kafalah) is required. Such facilities are available can be up to 60 months and profit rates as low at 3% per year. Please view our types of conventional financing facilities below. Should you have any queries on our facilities, please do not hesitate to contact our friendly service staff. All financing applications will be handled with strict confidence.

Eligibility To Obtain Financing

Unless otherwise disqualified, a member who pays monthly subscription in accordance with By-Laws, shall be eligible for a facility, secured by the Facility Default Scheme or Sureties Scheme.

A Member must satisfy the following requirements to be eligible to apply for a facility;

Good standing

No criminal record


 He is at least 21 years of age.

Surety VS Insurance

The facility is secured by Sureties Scheme Policy or Insurance Policy Scheme except for Secured Facility


Only Ordinary Members shall be eligible for the Surety Scheme and to stand as surety for a facility

Frequently Asked Questions

Do I need to be a member to apply for a facility with SGM?

Yes, you need to be a member before applying for a facility.

If I am not a member yet and in need to make an urgent facility, can both the application be made together at once?

It depends on case by case basis and will be subject to the management approval.

Who qualifies to apply for a facility with SGM?
  • An Ordinary member of SGM who is working as a teacher (under Ministry of Education/Private Institutional)

  • An Associate member of SGM (He/she who has direct relation to the ordinary member of SGM e.g. spouse/siblings)

Do I need to provide surety(ies) for the facility application?

Yes, but only Ordinary members of SGM, will have an option by using Insurance to secure for their facility.

How many sureties are required for a facility application?
  • Within the amount of less than S$10,000.00 = 1 surety

  • Exceed the amount of more than S$10,000.00 = 2 surety**Amount of facility eligible depends on your gross salary. **

General Rules

1. All members shall be eligible to apply facilities of any type from above. A member may apply for the total sum of facilities granted and shall not exceed:

a) $20,000 for those whose income is on salary check-off and with a surety.

b) $10,000 for those whose income is not on salary check-off and a surety.

2. Personal Surety (Secured) Facility is limited to members’ Deposit and Share Capital savings.

3. No member shall claim a facility as a matter of right.

4. All applications for facilities shall be submitted on prescribed forms to the Facilities Committee stating the purpose except Secured Facility.

5. It shall be within the powers of the Committee of Management to reject, defer or reduce the amount of facility applied for and no explanation need be given.

6. When a member is granted a facility, he/she shall agree to the deduction of instalments and income from his/her salary by his employer or by GIRO deductions.

7. Associate members shall authorise the deduction of instalments through GIRO.

8. Facilities shall be disbursed to members only after complete execution of bonds and other necessary documents.

9. A member may pay a facility in whole or in part at any time before the due date without any charges.

10. Under exceptional circumstances the Board of Directors may sanction the postponement or reduction of any facility instalment. The suspension of facility cost price or reduction of facility instalment shall only be considered after 6 monthly instalments have been affected.

11. A facility shall be recalled immediately with profit without any reference to the term for which the facility was granted in the following cases:

i) Cessation of membership;

ii) Use of the facility for purpose other than that for which it was granted.

12. The profit payable on a facility shall be according to the rate stipulated for the type of facility.

13. For the purpose of calculating profit payable for any period of a month, profit will be computed based on:

i) Settlement date for existing facility and

ii) Disbursement date of a new facility.

14. The Board of Directors reserves the right to change the profit rates for all facilities and the Administrative fees from time to time.

15. The Facility Committee may consider the waiver of facility profits and the restructuring of facilities based on the following circumstances:

i) A member in financial difficulties;

ii) Any other reasons acceptable by the Facility Committee.

Waiver of such profit shall require the approval of the Board of Directors.

16. Should a member cancel / withdraw his facility application after it has been processed and approved, an administrative fee not exceeding $50 shall be imposed on the applicant.

17. In the event of death, the Committee of Management may at its discretion, waive the profit chargeable on a facility with effect from the month following the death of the member.

18. All members with facilities and who retire / resign from service shall settle their facility balance in full. A retired member may continue to pay by instalments provided her/his continuation for membership is first approved by the Board of Directors. The members shall provide one or two guarantors depending on the amount of facility balance (The guarantor must be a person above 21 years of age and be gainfully employed).

19. Facility to New Members.

i) The application will only be considered upon Board of Directors’ approval of membership.

ii) An Ordinary member whose dues have yet to be affected through Central

Pay Office / Direct Salary Deduction may apply for a facility provided he first makes a cash payment of:

Ordinary Member – entrance fee of $30, a purchase of $1,000 share capital saving ($100 X 10 months instalments) and minimum subscription saving of $30 per month.

iii) A member whose applies to pay his dues through interbank GIRO may apply for a facility after the first deduction for Bank Direct Debit Authorisation had been effected and a cash payment is made for the following types of membership:

Ordinary/Associate Member – entrance fee of $30, a purchase of $1,000 share capital saving ($100 X 10 months instalments) and minimum subscription saving of $30 per month.

20. For calculation of facility quantum eligibility income means the total gross monthly income of the member before contribution to CPF and other deductions. This may include passive income (e.g. rental income) received by the member.

21. In the case of a facility of $10,000 or more, a credit report is required to support member’s facility application. The Society reserves the right and ascertain the credit rating from the Credit Bureau to assess member’s eligibility.

22. In the case of Education, Medical or Renovation facility, the member is required to provide supporting documents, to satisfy that the proceeds of the facility are or will be used to defray relevant expenses.