Education Financing

Enabling you and your loved ones in achieving educational dreams and aspirations.

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

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)

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
Requirements and Fees

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

Students

Parents & Guardian

Quick links

Shariah Concept

Tawarruq

Tawarruq consist of two sales contract. The Bank will purchase Shariah-compliant commodities from a supplier and sell the commodities to the customer (1^st 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 (2^nd 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.

Further Information

Please read the Product Disclosure Sheet and the General Tawarruq Terms and Conditions of Sale before you decide to apply for Education Financing.