1MCA Education Loan Scheme

1MCA Education Loan Scheme

PREREQUISITES FOR EDUCATION LOAN APPLICATION

• The applicant must be a member of KOJADI with RM100 initial shares. 
• The applicant must hold the requisite additional shares ranging from RM500 to RM2,000 shares for each child depending on the loan amount applied for. 
• Note: Payment of subscription of additional shares will be deducted from the approved loan 
• KOJADI will deduct the insurance premium from the approved loan.
• The applicant must nominate a child/nominee under the 1MCA Education loan scheme. 
• The nominated child/nominee must have gained admission to an approved institution of higher learning locally or abroad. 

HOW TO APPLY FOR AN EDUCATION LOAN ?

• Complete a prescribed membership application form and loan application form. 
• Submit the relevant loan documents. 

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: 

a. Loan Agreement (It must be jointly signed by the applicant & the student.)

b. 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.

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 : 03-21616499 (Membership and Loan Department)
Fax : 03-21621413
E-mail :
For membership related enquiries :member@kojadi.com.my
For loan application related enquiries : loan@kojadi.com.my
OfficeHours : Monday - Friday : 8:30am - 5:30pm
Saturday - Sunday & Public Holidays : Closed

Source:http://kojadi.my/v2