Bank Rakyat Education Loan 2023: Malaysia Financing To Study Abroad overseas
What is Bank Rakyat Education Loan? Yayasan Bank Rakyat offers education funding known as the Bank Rakyat Convertible Loan (PPBU) to students to further their studies at any tertiary level. It was introduced with the aim of helping Malaysian students socially and economically to enable them to continue their studies either at private or government institutes full-time.
The educational loan offered is based on the concept of “Qardhul Hassan,” which means that the repayment of this educational loan is exempt from any additional charges throughout the payment period.
The level of study that allows students to make this application is for students who wish to continue their studies to the Skill Certificate, Diploma, Bachelor’s Degree, Professional, Master’s, and Doctorate (PHD) levels.
Because of this, these loans are offered to enable eligible students to continue their studies at a higher level without being hindered by family financial constraints.
How To Apply Bank Rakyat Education Loan 2023
Students who meet Bank Rakyat’s financing eligibility requirements can apply for this financing online.
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Students who have financial problems continuing their studies at a higher level are encouraged to apply for this educational loan.
The following are the ways to apply for Bank Rakyat education financing:
- Visit the official website of Bank Rakyat at https://application.yayasanbankrakyat.com.my
- Click on the “Register” button to make the application.
- Then, the student needs to fill in all the student’s personal information completely and correctly.
- Click on the “Register” button after all the required information is filled in completely.
- Finally, applications for education funding that have been successfully submitted and are awaiting approval will be announced via the Bank Rakyat website, email, or SMS to students.
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Bank Rakyat Education Loan Eligibility
Students who meet the eligibility requirements set by Yayasan Bank Rakyat will receive this loan.
Some conditions have been set to allow the student’s application to be approved, and they are as follows:
- Students are Malaysian Citizens.
- Students must be no less than 18 years old when the application is made and no more than 30 years old after graduation for Skill Certificate, Diploma, Vocational Diploma, Bachelor, and Professional Degree Applications. Whereas, for master’s and PHD applicants, students must complete their studies before the age of 45.
- Study full-time.
Type Of Education Financing
Only a few fields of study listed by Yayasan Bank Rakyat are eligible to apply for this education loan, including:
- Accounting
- Banking
- Business management
- Human resources
- Economy
- Media communication
- Law
- Actuarial science.
Bank Rakyat Education Loan An Interest Rate
Bank Rakyat’s education loan is based on the “Qardhul Hassan” concept. This means that this financing is interest-free.
There is no interest rate charged on this financing.
Students only need to repay their bank rakyat student loan according to the loan amount.
Bank Rakyat Financing Review, OK or NOT
Bank Rakyat’s education loan that was introduced to students turned out to be very beneficial to them.
This loan has greatly helped Malaysian students continue their studies at a higher level and produce successful human capital.
Not only that, but this education loan has eased the burden on students who have financial problems to continue their studies at a higher level.
In addition, students will also be exempt from making repayment loans if they get excellent results, i.e., a CGPA of 3.5 or above.
Not only that, the amount of repayment that must be paid by students who receive this loan will be given a discount according to the level of the student’s decision, and this repayment is also exempt from any interest rate.
Therefore, there are many advantages that students will receive if they accept this bank rakyat study loan.
Can Use Bank Rakyat Education Loan Malaysia Study Overseas
This bank rakyat study loan can be applied for by students who want to continue their higher education.
It is only subject to government and private universities and high-skill institutes recognized by the Malaysian Ministry of Education.
These universities, regardless of whether they are pursuing their studies locally or abroad, as long as it is recognized by the Malaysian government, they will be entitled to receive this education loan malaysia study overseas 2023.