ICYMI: Bank Rakyat’s Convertible Study Loan Is Open for Application
Set your financial worries aside and go to college with Yayasan Bank Rakyat’s convertible loan. Application is open now.
Published 01 Mar 2022
Are you looking for a study loan to help you further your study? Well, you’re looking at the right place.
In case you haven’t heard, Yayasan Bank Rakyat is opening applications for its study loan, the Pinjaman Pendidikan Boleh Ubah (PPBU). Covering a variety of programmes across various levels of study, the PPBU is a popular financial aid.
Thinking of applying? Here’s everything you need to know about this year’s application process.
What you need to know
First of all, the study loan is only open to underprivileged students who have secured a full-time placement at a local public or private higher institution.
The loan is available for all MQA-recognised programmes across all levels of tertiary education, with the exception of medicine and aviation. However, priority will be given to students pursuing the following fields of study:
- Accounting
- Banking
- Business Management
- Human Resources
- Economy
- Media Communication
- Law
- Actuarial Science
The PPBU is a type of convertible loan. This means that, depending on your academic performance, the amount of repayment may differ. Should your final CGPA be higher than 3.50, then the loan will be converted into a scholarship. The exact repayment rate is as below:
| CGPA | Discount (%) | Repayment (%) |
|---|---|---|
| 3.50 – 4.00 | 100 | 0 |
| 3.33 – 3.49 | 90 | 10 |
| 3.00 – 3.32 | 80 | 20 |
| 2.75 – 2.99 | 50 | 50 |
| 2.50 – 2.74 | 30 | 70 |
| <2.50 | 0 | 100 |
How to apply
The deadline for the application is only until 15 March 2022.
To apply, simply submit your application to the Yayasan Bank Rakyat website. Before applying, make sure that you have an account on the Yayasan Bank Rakyat website as well as your university offer letter. There’s no interview but you will be asked to answer an online quiz after the application deadline closes.
All successful applicants will be announced via the website, SMS and email. An offer letter for the loan will also be emailed to you.
So what are you waiting for? Read more about the loan here or submit your application here.
Dzulfazreena Dzulkefli
Too busy complaining about lemon but I sometimes read.
