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Minimum Period of Membership for Eligibility
- Member - 3 years
- Children of Member - 5 years
- Children of Deceased Member - 5 years( member must have been in benefit at the time of death)
A minimum of RM10 subscription a month is required during the loan period
No. of Surety / Guarantors or Collateral
- 3 Guarantors (Minimum Salary RM 2,000.00 each)
- Property
- Bank Guarantee
- Applicant and 2 or more sureties
Interest rate :
- 6% during and after duration of course
- 12% if exceed repayment period
Maximum Loan Amount :
- Diploma Courses : RM 6,000 per year
- Degree Courses : RM 7,500 per year
- Masters/ Phd Courses : RM 12,000 per year
Repayment Period :
- Repayment for each academic year will be over a period of 3 years with interest only payable during study period
- Repayment commences 6 months after period mentioned or of completion or of discontinuance whichever is earlier. Repayable within 6 years
- Processing Fee : RM 50 + Stamp Fee charged on value approved
