Education Financing-i

Shariah Concept

Tawarruq

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Eligibility Criteria

• Malaysian citizens.
• Main Applicant (Student):
  • Non-working student - age is between 18 - 30 years old.
  • Working student - age is between 18 - 50 years old.
• Joint Applicant(s):
  • Age is between 21 - 55 years old.
  • Up to a maximum of two (2) joint applicants

Note: For working student, the application will be accepted, with or without joint applicants. Working student must be under employment or running their own business

Coursework Programme

• Open to all Foundation, Certificate, Pre-University (eg: A Level), Diploma, Degree, Postgraduate (Master’s Degrees & Doctorates) and Professional Courses.
• The Coursework Programme must be from education institutions under the Bank's empanelment.

Financing Amount (without collateral)

Minimum: RM10,000
Maximum: RM250,000

Tenure (inclusive Study Period)

Minimum: 5 years
Maximum: 20 years OR up to the customers’ age of 60 years old (at the point of financing expiry), whichever is earlier.

Note: Study Period is capped up to the maximum of 5 years or as per stated in the Student’s Letter of Offer, whichever is earlier.

Margin of Financing

Up to 90% of the Coursework Programme fee (up to an additional 5% incidental financing).

Profit Rate

• Profit is calculated based on Variable Rate.
• Protection with a Ceiling Profit Rate capped at 11% p.a.

Terms and conditions apply.