Yes, interest will continue to accrue until the education loan is fully repaid. The amount withdrawn for education, plus the accrued interest must be repaid using cash, to fully restore your lending member’s CPF savings. This ensures that the member would not lose out on the interest they would have earned had the money not been withdrawn for education purposes.

 

To reduce the interest payable, you can still make repayment during the deferment period through the "Manage education loan repayments" form and check the latest outstanding amount by accessing your Education Dashboard.