RHB Banking Group (RHB or the Group) has introduced Commodity Murabahah Term Financing-i (CMTF-i) Education Financing (RHB Education Financing-i), a Shariah-compliant solution designed to help Malaysian families manage the rising cost of higher education.
With many students delaying or forgoing tertiary studies due to financial constraints, RHB Education Financing-i offers a flexible and affordable financing option that enables families to invest in education without undue financial pressure.
Key features of RHB Education Financing-i:
- Joint Applicant Flexibility: The solution allows up to three joint applicants, excluding the main applicant. This enables families to combine income eligibility, thus reducing individual financial burden. This option is limited to immediate family members (parents, spouse, siblings, or children).
- Extended Tenure & Grace Period: Financing terms of up to 20 years or age 70 (whichever earlier), with a grace period of up to four (4) years during the course of study. This enables students to focus entirely on their academic performance, without the pressure of principal payment during their studies.
- Generous Financing Range: From RM10,000 up to RM500,000, covering tuition and related expenses.
- Inclusive Coverage: Supports undergraduate, postgraduate, and professional programmes, catering to both students and working adults.
Jeffrey Ng Eow Oo, Managing Director, Group Community Banking of RHB Banking Group said, “Access to higher education should never be limited by financial constraints. We are committed to playing our part in addressing this national challenge by providing families with practical and ethical financing options. This is in line with RHB’s objective of being a Responsible and Purposeful Bank – one that empowers Malaysians to pursue their academic ambitions and contribute to the country’s long-term growth.”
Dato’ Adissadikin Ali, Managing Director of RHB Islamic Bank Berhad added, “RHB Education Financing-i is based on the Shariah concept of Commodity Murabahah, ensuring ethical and transparent financing. Phase 1 of the rollout focuses on financing for studies at domestic institutions to support the local education ecosystem, with plans to expand to overseas education financing in the next phase.”
