I can afford to pay for my University tuition fees fully. Does it make sense to still take up a bank loan to earn extra interest?

You might want to consider dragging the repayment as long as you can as a 4.75% 'loan' is quite cheap, for retail (not hard to get returns above that) - speaking from my own experience

Here's a similar question answered previously, check out what others have shared - https://seedly.sg/questions/i-can-afford-to-pay...

Will you be able to invest your own funds to achieve a better yield as compared to the interest rate of the loan? If yes then consider taking up the loan.

No, dont take a loan unnecessarily. Why pay the interests cost. Typical private uni u only need to pay term by term. So u will not need to come out with the full lump sum at the onset.