PRODUCT DISCLOSURE SHEET MAYBANK EDUCATION LOAN

Read this Product Disclosure Sheet before you decide to take up the Maybank (CLEAN)
Education Loan (Clean). Be sure to also read the general terms and
conditions. Please seek clarification if you do not understand any part of this
document or the general terms. Date :__________________

1. What is this product about?

Maybank Education Loan (Clean) is financing facility that provides financial assistance to qualified student to
finance (fully or partly) the tuition fees of their courses at universities based on programs and universities
approved by the Bank.

2. What do I get from this product?

No. Item Description

i. Facility Amount Minimum: RM10,000
Maximum: RM150,000

(Excluding insurance/ takaful coverage)

ii. Margin of Financing

Up to 105% inclusive of insurance
(MOF)

iii. Tenure Up to 15 years (180 months) or age up to 50 years old at end of loan tenor,
whichever is earlier.

iv. Interest Rate 1. SBR + 4.05% (During study period) – Servicing of interest only.
2. SBR + 4.75% (Remaining years) – Servicing of instalment (principal and
interest).

Standardised Base Rate (SBR) is 3.00% with effect from 8th May 2023

v. Repayment Of Financing Servicing of interest during the study period and to be extended another
6 months grace period.
Repayment (principal and interest) to start 6 months upon completion of
study or upon employment, whichever earlier.

vi. Joint’s Borrower 1. Up to maximum of 3 joint borrowers (excluding main applicant) which
Requirement limited to immediate family members.
2. Age 21 years old and not exceeding 70 years at the end of the
financing period.

3. What is Standardised Base Rate (SBR)?

The SBR is a common reference rate for all commercial banks with effect from 1st August 2022 in the pricing of
new retail loans pegged to base rates, refinancing of existing retail loans, and the renewal of revolving retail loans
from 1st August 2022. The SBR is pegged to the Overnight Policy Rate (OPR) (ie SBR = OPR) and all existing Base
Lending Rate (BLR) and Base Rate (BR) in turn are pegged to the SBR. In other words, SBR, BR and BLR will be
adjusted in tandem with the changes in the OPR as determined by the Monetary Policy Committee (MPC) of Bank
Negara Malaysia.

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4. Historical Standardised Base Rate (SBR) for the past 3 years

Note: The dotted line shows the historical series of the OPR, which is the benchmark rate of the SBR

5. What are my obligations?

You have to ensure that prompt payment is to be made by 1st day of every month.

The above calculation is based on the following assumptions:

 Loan amount is RM 150,000
 Tenure is 15 years
 Study period of 4 years and 6 months grace period
 Interest rate as per item 2(iv) above

Today: If the SBR rate goes up If the SBR rate goes up

Items
SBR = 3.00% by 1% by 2%

Monthly Instalment
RM1,744 RM1,824 RM1,907
(After grace period)
Total interest cost at the
RM97,951 RM 112,146 RM 126,511
end of tenure
Total repayment amount at
RM247,951 RM 262,146 RM 276,511
the end of tenure

Important: Your monthly installment and total repayment amount will vary if there are any changes in
Standardised Base Rate (SBR). The above based on illustration purpose only.

6. What are the fees and charges that I have to pay?

Stamp Duty Documents Charges

As per Stamp Act 1949 Letter of Offer (3 copies) RM30.00

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7. What if I fail to fulfill my obligations?

Late Payment Late payment charge of 1% p.a. will be imposed on overdue amount from date of default
Penalty Charge (subject to grace period of 7 days) until the date of receipt of payment by the Bank.

In the event of default (non-payment) on three (3) monthly payments of interest pending
the commencement of instalments or during the payments of monthly instalments, we
shall be entitled to convert the Prescribed Rate to SBR + 6.15% p.a. above the Prescribe
Default Rate Rate, whichever is higher, to be charged on the amount outstanding, from time to time
by giving notice. The rate of interest for the Facility will revert to the Prescribed Rate
after you have settled in full all overdue payments under the Facility.
We may with prior written notice of at least 7 days to you combine, set-off any credit
Right to set-off balance in your account maintained with us against any outstanding balance in this
account.

Legal action may be taken against you under the following circumstances:
 Accumulation of monthly shortfall amounts (if any).
 Failure to respond to reminder notices.
Legal action
Any legal action initiated against you may affect your credit rating leading to credit being
more difficult or expensive to you in the future.
Notification will be given to you beforehand for any impending legal action.
In the event that the Facility granted by the Bank is less than 100% of the total study fee
as stipulated in the invoice(s) issued by the University/College, the Bank shall have
received the following from you:-
 a sum equivalent to the difference between the total study fee as stated in the
invoice from University/College, and the principal amount of the facility (excluding
Specific the Takaful Contribution) (“the Differential Sum”), duly deposited into designated
Conditions non-checking account; and
 a standing instruction/irrevocable letter of instruction, whereby you irrevocably
authorize the Bank to deduct from the designated account, payment of the
Differential Sum, progressively from time to time, in such of payment of the costs of
study, as stipulated by the University/College.

8. What if I fully settle the loan during the lock-in period?

For early settlement, there is no exit penalty charge imposed.

9. Do I need any insurance coverage?

 Customer is encourage to take up insurance as for coverage in the event of death and permanent disability.
 The insurance premium on single premium shall depend on loan amount, age and gender.
 It is recommended for customer to take up insurance coverage from Bank’s Panel Insurance (Etiqa Family
Berhad) or other insurance operators approved by the Bank.

10. What do I need to do if there are changes to my contact details?

It is important that you inform us of any change in your contact details to ensure that all correspondences reach
you in a timely manner. To update your correspondence details, please visit any Maybank branch convenient to
you.
Notices, reminders, loan statements and correspondences in relation to this facility will be delivered in digital
form through Maybank2u. For this purpose, you should maintain Maybank2u online services throughout the
Tenure and to check Maybank2u inbox prudently.

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11. Where can I get assistance and advice?
i. If you have difficulty in paying the monthly instalment, you should contact us earliest possible to discuss
payment alternatives. You may contact us at the nearest Maybank branches.

ii. Alternatively, you may seek the services of Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency
established by Bank Negara Malaysia to provide free services on money management, credit counselling and
debt restructuring for individuals. You can contact AKPK at:
8th Floor, Maju Junction Mall
1001, Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: 03-2616 7766
E-mail: [email protected]

iii. If you wish to complain on the products or services provided by us, you may contact us at:
Malayan Banking Berhad
Customer Feedback & Resolution Management
28th Floor, Menara Maybank
100, Jalan Tun Perak
50050 Kuala Lumpur
Malaysia
Tel: 03-20748075
Email: [email protected]

iv. If your query or complaint is not satisfactorily resolved by us, you may contact Bank Negara Malaysia LINK or
TELELINK at:
Block D, Bank Negara Malaysia
Jalan Dato’ Onn
50480 Kuala Lumpur
Tel:1-300-88-5465
Fax:03-2174 1515
Email: [email protected]

12. Where can I get further information?

You may visit the nearest Maybank branch or contact our Customer Service Centre at 1300-88-6688 or refer to our
website for information at www.maybank2u.com.my.

13. Other Education Financing packages available?

Education Loan (Secured)

IMPORTANT NOTE: LEGAL ACTION MAY BE TAKEN AGAINST YOU IF YOU DO NOT KEEP UP REPAYMENTS ON
YOUR MAYBANK LOAN ACCOUNT

The information provided in this disclosure sheet is valid effective May 2023

Customer Declaration: I hereby declare that I have read and understood the content of this Product Disclosure Sheet.
Main Applicant: Joint Borrower 1: Joint Borrower 2: Joint Borrower 3:
Signature: Signature: Signature: Signature:
Name: Name: Name: Name:
IC No.: IC No.: IC No.: IC No.:

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