Education Financing
Enabling you and your loved ones in achieving educational dreams and aspirations.
Financing facility that provides customers with financing up to B$200,000 for overseas education and B$50,000 for local education.
Maximum payment period of up to 10 years for overseas education and 7 years for local education.
Eligibility
- Student.
- Brunei Citizens and Permanent Residents.
- Applicant.
- Brunei Citizens and Permanent Residents.
- Individuals aged 21 to 65 years.
- Employed with Brunei Government, Semi-Government or private companies approved by BIBD including self-employed individuals.
Required Documents
- Student.
- Original copy of Identification Card.
- Letter of Acceptance from Educational Institution.
- Course Fees Structure from the Educational Institution.
- Estimated Cost of Living from the Educational Institution.
- Applicant.
- Original copy of Identification Card.
- Original copy of latest Salary slip.
- Letter of Confirmation. (Salary/ Pension/ Service Contract)
- Latest 3 months Bank Statements if salary is assigned with other Financial Institutions. (where applicable)
- Business Registration Certificate. (where applicable)
Fees and Requirements
- You may refer to the Bank's Schedule of Tariffs and the list of applicable rates for this product.
Features
Financing facility that provides customers with financing up to B$200,000 for overseas education and B$50,000 for local education
Wide range of expenses covered
Maximum payment period of up to 10 years for overseas education and 7 years for local education
Maximum grace period of up to 3 years (overseas education only)
Suitable For
Retired Individuals
Parents and Guardian
Tawarruq
Tawarruq consist of two sales contract. The Bank will purchase Shariah-compliant commodities from a supplier and sell the commodities to the customer (1st sale contract), disclosing cost price and profit amount (“Murabahah”). Customer, as the owner of the commodities, can appoint the Bank as their disposal agent (“Wakil”) to sell the commodities (2nd sale contract) to a third party on their behalf, and as their payment agent to credit the sale proceeds to the customer’s account and/or make payment arrangements as agreed by the customer.
Please read the Product Disclosure Sheet and the General Tawarruq Terms and Conditions of Sale before you decide to apply for Education Financing.