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Key Term / Item |
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Description |
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Governing Rules |
: |
The existing Rules of Special Education Loan Scheme (SELS) / or such other terms and conditions lay down by the Board from time to time.
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Pre-Requisite Additional Shares For Loan |
; |
No additional share is required except membership Shares of RM100 each to be acquired by the loan applicant and the nominee / loan beneficiary.
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Loan Ceiling |
: |
Not exceeding RM10,000. For most cases, RM5,000 will be offered
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Loan Interest Rates |
; |
8% for existing member with 5-year membership and 9% for new members or such other rates as may be prescribed by the Board of KOJADI from time to time.
Note: Progressive interest rates structure is not applicable under the above loan program.
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Mode of Disbursement |
; |
To be released directly to KOJADI Institute to cover the course fees with the balance, if any to be released to the loan beneficiary.
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Student’s Age Limit |
: |
Not more than 35 years old.
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Requirement of Guarantor |
: |
At lease one (1) guarantor with a monthly income of RM1,250.
Parent with earning capacity is allowed to become a guarantor provided he / she has documentary proof of 2 years of steady income.
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Repayment Period |
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Not exceeding 4 years.
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