Extra Info: This Loan Scheme is open for application to students of all races from low-income families.
A total of RM30million interest-free loans in the Loan Scheme will be open to all races. University students studying abroad can apply for loans ranging from RM30,000 to RM100,000. MCA will bear the interest for the loans.
The Education Loan Scheme is divided into two parts:
The first part entails 150 loans to pursue university degree programmes locally and overseas, with each successful applicant receiving loans up to RM30,000.
The second part entails 50 loans to pursue doctoral and post-graduate studies, with each successful applicant receiving loans between RM80,000 up to RM100,000.
Successful applicants can enjoy interest-free loans for the first five years. The Loan Scheme takes into consideration the fact that the students are studying and will have only just started working for about two years.
Thus this plan will allow the students to repay the loan, after which a minimum interest rate will be charged.
- LOAN DOCUMENTS
Submit certified photo copies of the following documents:
- Applicant’s identity card
- Student’s identity card
- Letter of offer from approved institution
- Student’s last examination results (SPM,STPM or SM3/UEC or equivalent or other highest academic qualification)
- Identity cards of guarantors (one to three guarantors)
- Latest EPF statement or Income Tax Form or EA Form or last 3 months payslips of guarantors (one to three guarantors)
- Any other documents as may be required from time to time.
Submit the following photos and payment:
- Applicant’s recent photo (passport size)
- Student’s recent photo (passport size)
- Loan processing fees (RM200)
- Co-applicant and student membership fees (RM220)
- LOAN APPROVAL & DOCUMENTATION
- The loan amount is subject to the discretion of the Board.
- The loan application normally takes about 1 month to process.
- When the loan is approved, an OFFER LETTER will be sent to the applicant.
- The applicant is then required to complete and submit the necessary loan documents within 2 months:
- Loan Agreement
It must be jointly signed by the applicant & the student.
- Deed of Guarantee
It must be jointly signed by the guarantor(s).
- LOAN DISBURSEMENT
- Loan will only be disbursed after ALL the loan documents and payments have been received by KOJADI.
- The loan will be released in 2 or 3 disbursements spread over the duration of the course of study.
- INTEREST CHARGES
- Interest will be charged to the applicant’s loan account immediately after the disbursement of the loan. However, the first FIVE years loan interest will be borne by MCA.
- The interest rate for the loan will be as follows :
For existing member of KOJADI with minimum 5 years membership:
1st year (Upon First release of loan) | 2nd year onwards until full settlement |
5.8% (on a monthly rest and reducing balance basis) |
6.8% (on a monthly rest and reducing balance basis) |
For new member:
1st year (Upon First release of loan) | 2nd year onwards until full settlement |
6.8% (on a monthly rest and reducing balance basis) |
7.8% (on a monthly rest and reducing balance basis) |
REPAYMENT OF LOANThe founding objective of KOJADI is to pool the resources among its members for mutual benefits. Prompt repayment of the loan will enable KOJADI to give similar financial aid to other members for further study.
The repayment of the loan will begin three (3) or six (6) months after graduation and the maximum repayment period shall not exceed 10 years depending on the amount of loan and the type of the loan, repayment will be as follows:
1st year ….. RM200 or RM300 per month
2nd year ….. RM300 or RM400 per month
3rd year ….. RM400 or RM500 & above per month until full settlement
OR equal monthly instalments until full settlement.
- FURTHER INFORMATION
The above particulars are subject to change. For further information, please call at our office at
KoperasiJayadiri Malaysia Berhad (KOJADI)
11th Floor, Wisma MCA,
163 JalanAmpang,
50450 Kuala Lumpur.
Tel : 03-2161 6499 (Membership and Loan Department)
Fax : 03-2162 1413
E-mail :
For membership related enquiries : member@kojadi.com.my
For loan application related enquiries : loan@kojadi.com.my
Office Hours : Monday-Friday : 8:30am – 5:30pm
Saturday-Sunday &Public Holidays : Closed