Education Financing-i Bank Rakyat

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 of your financial needs.



  • Tawarruq


  • Financing is up to RM1 million
  • Tenure up to 20 years (Inclusive of grace period up to 4 years)
  • Takaful Coverage is optional
  • Disbursement direct to the learning institution
  • Rate as low as 3.99% (flat) per annum
  • Guarantor is required
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

    Type of collateral acceptable by the bank :

  • Mortgage
  • Term Deposit-i Account Bank Rakyat
  • Unit Trust Amanah Saham Bumiputera (ASB)



  • Malaysian Citizen
  • Minimum fixed monthly Income RM2,000
  • Minimum age 18 years old and maximum 60 years old (at the end of the financing tenure)
  • Applicant (Student or Immediate Family Members)


Documents Required




Business Owner / Professional

Commission Earners

Copy of MyKad/MyTentera

Latest 3 months salary slip




Latest 3 Months Bank Statements





Latest Bank Statement for  6 months transactions






EPF Statement





And at least one (1) of the following:

§  Confirmation letter from employer

§  EA Form






Copy of government or army pensioner card





Confirmation Letter Pension Transfer to Bank Rakyat





Pension (JPA) / Ledger (JHEV) Statement





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


Profit Rate



·         Salary Transfer to Bank Rakyat

·         Biro Perkhidmatan Angkasa

·         Salary Deduction

BR + 3.65%

·         Electronic Payment

BR + 5.65%

*Note :

  1. Current Base Rate (BR) is 2.60%
  2. The additional profit rate of 1.50% over the current profit rate for financing without takaful
  3. Ceiling Rate = Effective + 4.00%


Fee & Charges



Custodian of security documents (post settlement)


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


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


Product Disclosure Sheet

Illustration Payment Schedule


For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.

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