Maybank Education Financing/-i

Profit Rates Based on Financing Amount & Tenure:

Note: Final rate is subject to Maybank’s approval.

Key Highlights:

• Profit Rate: From 4.10% p.a.
• Financing Amount: Up to RM400,000.
• Repayment Period: Flexible, up to 30 years.
• No Early Settlement Penalty: No exit penalty if the loan is paid off early.
• Collateral Value: Financing up to 150% of collateral value.
• Coverage: Includes local and overseas education, including twinning programmes.

Profit Rate:

• Starting from 4.10% p.a. depending on loan amount and tenure.

Key Features:

• Min. Financing Amount: RM10,000.
• Max. Financing Amount: RM400,000.
• Repayment Period: Up to 30 years with flexible schemes.
• Joint Borrowers: Up to 3 joint borrowers (immediate family members).
• Loan Purpose: Financing for education, including local and overseas institutions.
• Grace Period: 6 months grace period after study period to start repayment.

Fees & Charges:

• Stamp Duty: As per the Stamp Act 1949 (Revised 1989).
• Letter of Offer: RM10 per copy.
• Facility Agreement: RM10 per copy.
• ASB Certificate Fee: RM100 (if applicable).
• Legal Fees: To be paid directly to the solicitor (based on advice).
• Late Payment Penalty: 1% p.a. on overdue amount, subject to a 7-day grace period.

Eligibility:

• Age Requirement:
  • Main Applicant: 18 – 35 years old (Undergraduate) or 18 – 45 years old (Postgraduate/Professional Programme).
  • Joint Applicant: 21 – 65 years old (not exceeding 70 years at the end of financing period).
• Minimum Household Income: RM5,000 (combined household income for joint applicants).
• Educational Requirements: Applicants must be pursuing a degree or postgraduate programme recognised by MQA or MoHE.
• Nationality: Malaysian citizens only.
• Joint Borrowers: Up to 3 joint applicants, limited to immediate family members.

Required Documents:

• For Main Applicant:
  • NRIC (copy).
  • University admission/enrolment letter (for prospective students).
  • Latest exam results and course fee schedule (for existing students).
• For Secured Financing:
  • Individual/strata title or SPA, or copy of FDR/IFD-i/GIA-i certificate or ASB statement.
• For Joint Applicants:
  • NRIC (copy).
  • Documents for education (admission/enrolment or course fees schedule).

Who Can Apply?

• Malaysian Citizens.
• Main Applicant:
  • 18 to 35 years old (Undergraduate student).
  • 18 to 45 years old (Postgraduate/Professional Programme student).
• Joint Applicants:
  • 21 to 65 years old (not exceeding 70 years at the end of the financing period).

Loan Usage:

• Financing for local and overseas education, including twinning programmes.

How Fast Can I Get the Loan?

• Approval Time: Typically within 3 working days.

How to Apply:

1. Complete the Maybank Education Financing/-i application form.
2. Provide the necessary supporting documents.
3. Submit the application online for processing.

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