Take a step towards achieving your aspirations! With a Bank Rakyat Education Financing-i, you are able to focus on your studies while we take care your financial needs.
Tawarruq
- Malaysian Citizen
- Minimum age of 18 years old and maximum 70 years old at the end of the financing tenure
- Minimum fixed monthly income of RM2,000
- Financing up to RM1,000,000
- Tenure up to 20 years (inclusive of grace period)
- Grace Period based on study period OR maximum four (4) years; whichever comes first
- Takaful coverage are optional
- Guarantor is required
- Collateral :
Financing Amount (RM) Value Of Collateral ≤250,000 No collateral 250,001 – 500,000 50% from financing amount >500,000 to 1 million 75% from financing amount
- Mortgage
- Term Deposit-i Account Bank Rakyat
- Unit Trust Amanah Saham Bumiputera (ASB)
PAYMENT TYPE | PROFIT RATE |
---|---|
|
SBR + 4.50% |
|
SBR + 6.50% |
*Note :
- Current Standard Base Rate (SBR) is 3.00%
- Additional profit rate of 1.50% over the current profit rate for financing without takaful
- Ceiling Rate = Effective + 4.00%
Fixed Income | Non Fixed Income | ||||
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Documents | Public | Private | Pensioner | Business Owner/ Professional | Commission Earners |
Copy of Mykad/ My Tentera | √ | √ | √ |
√ |
√ |
Latest 3 months' salary slip | √ | √ |
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Latest 3 months Bank Statement | √ | √ | |||
EPF Statement. | √ | ||||
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√ | √ | |||
Copy of government or army pensioner card | |||||
Confirmation Letter Pension Transfer to Bank Rakyat | √ | ||||
Pension (JPA) / Ledger (JHEV) Statement | √ | ||||
Latest bank statement for 6 months transactions | √ | √ | |||
Business Registration Certificate | √ | √ | |||
Form 'B' sent to LHDN / Receipt payment | √ | ||||
License / membership of the Board of Trustees Recognized (Professional) | √ | √ | |||
Form A & D Registration Form 24 & 49 of company | √ | ||||
Statement of commission 6 months | √ | ||||
Original copy of university/college acceptance letter/certified true copy by university | √ | ||||
Original copy of course fee schedule | √ |
TRANSACTION | CHARGE |
---|---|
Custodian of security documents (post settlement) | RM10/set/month |
Stamp duty | 0.5% of total financing as contained in the Stamp Duty Act 1949. |
Legal Fees (if applicable) | All legal fees and incidental expenses related to your financing |
Wakalah Fee | N/A |
Disbursement Fee | Included fees for registration charges and other related charges |
Early Settlement Fee | No Charges |
Late Payment Charges |
During the financing tenure : 1% per annum on the outstanding amount of the monthly payment After expiry of financing tenure : Shall not be more than the prevailing daily overnight Islamic Interbank Money Market rate (IIMM) on the outstanding balance |
The published rates, fees and charges are effective from 1st April 2019 following the implementation of 6% SST from 1st September 2018. Terms & conditions apply.
For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.*Terms and conditions apply.