Petaling Jaya, August 17th, 2023 – MBSB Bank and the BAC Education Group are delighted to announce the signing of a landmark empanelment agreement that aims to democratize access to quality education. This initiative underscores both the BAC Education Group’s and MBSB Bank's commitment to fostering accessible and high-quality education for all.
Under the banner of the MBSB Bank Education Financing-i (EduF-i) initiative, this alliance paves the way for a host of benefits designed to help students own their future.
Key Highlights of the EduF-i Initiative:
- Ample Margin of Financing: With a remarkable margin of financing up to 95% of the tuition fees, EduF-i provides students with the financial breathing space they need to excel in their studies.
- Flexible Tenure: Students can take advantage of financing tenures of up to 25 years, ensuring that the repayment process aligns with their career progression.
- Generous Financing Amounts: EduF-i offers financing amounts of up to RM 500,000 to help student achieve their dreams.
- Inclusivity at its Core: Whether pursuing their studies on a full-time or part-time basis, students have access to EduF-i’s benefits.
- Collaborative Approach: Recognizing the importance of partnerships, EduF-i welcomes flexible joint applicants.
- Professionals Welcome: EduF-i also supports professional courses, acknowledging the evolving education landscape and the increasing demand for fast-track skills acquisition.
- Competitive Financing Rate: MBSB Bank offers a competitive financing rate, ensuring that students receive optimal value for their investment in education.
- Seamless Refinancing: The programme also includes refinancing options, allowing students to manage their financial commitments effectively.
Mr. Aria Singham, Chief Operating Officer of BAC Education, shared his enthusiasm about this partnership, stating, "Education is one of the most important investments in a person's life and at BAC Education, we believe in transforming lives through education. This alliance between MBSB Bank and BAC Education Group will help us do just that as it will enable more people to pursue their dreams of higher education and develop their skills, with both personal and economic benefits, especially for those who would otherwise not be able to afford it.”
Meanwhile, MBSB Bank’s Chief Executive Officer, Datuk Nor Azam M. Taib said, “The higher learning institutions play a pivotal role in advancing young individuals as these institutions provide specialised skills, inculcate them to think critically and be innovative. Most importantly, higher learning institutions can further enhance the pool of skilled professionals in the nation and contribute to the socio-economic growth of a country.”
“This is why MBSB Bank’s strategic alliance with BAC is valuable as it carries a lot of potential in developing various programmes that will benefit not only the two parties, but also the community. We, at MBSB Bank, hope that EduFin-i will be the trusted product for students in navigating their future endeavours and assist them in creating a bright future.”
This collaboration aims to support higher education as the driver of the progress needed to create a fairer, more inclusive, and more sustainable society. As such, MBSB Bank and BAC Education Group are proud to be at the forefront of this transformation.