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Schooling Financing for LLFA – Higher Aviation

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Credit score to PilotVisnu for this text, if you happen to want to know extra about flying faculty, cadet pilot, and many others… do go to PilotVisnu web site at www.pilotvisnu.com

Within the earlier days, pilots who be a part of as personal cadets apply private mortgage or use their financial savings with a view to pay for his or her flight coaching. Mortgage or scholarship as a lot as RM400,000 had been solely supplied to cadets who handed their cadetship and get their job secured.

Layang Layang Flying Academy (LLFA) is proud to announce the affiliation with AFFIN financial institution and is accepted within the panel. Cadets can now method to this financial institution for examine mortgage to pursue their flying profession with with LLFA.

AFFIN Schooling Financing-i is a Shariah-compliant scheme designed specifically for certified people of chosen College or Faculty duly authorised by the Financial institution to acquire monetary help for his or her schooling plan. Based mostly on the idea of Ijarah, the financing will cowl their schooling programme for a very seamless examine expertise.

ELIGIBILITY

Pupil (Important applicant)

  • Malaysian citizen
  • Age between 18 years outdated to 45 years outdated
  • Relevant for full and half time college students, new in-take or present college students For half time scholar, the applying will likely be accepted, with or with out joint candidates. Half time scholar should be beneath employment
  • Open to all Basis, Certificates, Pre-College (e.g. A-Degree), Diploma, Diploma, Postgraduate.
  • (Grasp’s levels & Doctorates) and Skilled Programs for college students of appointed universities / schools

Father or mother/Partner/Siblings/ Guardian (Joint Applicant)

  • Malaysian citizen
  • Age between 21 years outdated and above
  • Minimal annual revenue of RM24,000.00 The product requires joint applicant (open to all) to collectively apply with the coed as a part of threat mitigation
  • The DSR / cost capability will likely be assessed on the joint applicant primarily based on the Financial institution’s Shopper Credit score Instruction Handbook

Tenure

  • Minimal: 5 years
  • Most: 15 years
  • *Be aware: The next tenure shall be primarily based on scholar’s age as much as 15 years

Financing Quantity

  • Minimal financing quantity : RM5,000
  • Most financing quantity : RM400,000
  • Be aware: The financing quantity is predicated on the Coursework Payment provided by the College / Faculty.

In the course of the interval the place the financing is partially disbursed (by semester), the Buyer is simply required to pay ujrah servicing which commensurate with the quantity disbursed throughout the interval.

Buyer is required to pay the total rental quantity upon expiry of grace interval of the ability.

Instance:

Coursework Programme Charges : RM370,000.00
Complete Financing Quantity : RM300,000.00
Margin of finance : 81%
Tenure : 10 years Ujrah : BR+4.00% p.a. = ERR 8.10% p.a.
Month-to-month instalment : RM3656.00

The entire quantity you need to pay is RM438,720.00

* The BR proven on this disclosure sheet is topic to adjustments.
*Essential: Your month-to-month rental and whole cost quantity will range if the BR change.

For more information, kindly go to Affin Bank AFFIN Education Financing-i  website.

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