Bank Rakyat Superbikes Hire Purchase Financing-i

    Bank Rakyat Auto Hire Purchase Financing-i (An Naqlu 2) is an auto financing scheme provided by Bank Rakyat that offers a high financing margin for vehicle purchase. Based on the Shariah concept of Murabahah (Tawarruq), the financing scheme provides individuals with funds at competitive profit rates.

    Features & Benefits

    • The financing scheme offers a flexible and affordable instalment repayment plan with the purchase of any national and imported car.
    • The applicants can obtain funds up to 100% of the OTR (on-the-road) sales price or invoice of the car.
    • The financing facility provides funds for both new as well as used passenger cars.
    • The applicants can choose from a range of flexible financing tenure that has a maximum limit of 9 years.
    • The maximum financing amount with this facility is subject to the applicant’s monthly instalment limit.
    • The customers can make the repayments for this scheme via easy and convenient methods of payment like BPA (Biro Perkhidmatan Angkasa), PDC (Post Dated Cheque), PGM (Salary deduction by employer), standing instructions placed on bank accounts, current date cheque, savings account deduction and by making cash payments at the bank counters.

    Profit Rates

    New Vehicle for Personal Use Profit Rate
    Proton & Perodua 3.30% to 3.50% p.a.
    Bukan Nasional 3.10% to 3.25% p.a.

    Eligibility Criteria

    • The applicants should be 18 years old or older at the time of application and should not exceed his/her retirement age before the term matures.
    • The applicant must be an employee of the public or private sector with at least 6 months in service.
    • The applicants must have an annual income of RM18,000 or more to be eligible for this financing facility.

    Documents Required

    • One copy of MyKad.
    • One copy of driving license.
    • Last 3 months’ salary slips copies.
    • Statement of the account’s transactions.
    • The employment confirmation letter from the applicant’s employer.

    How to Apply

    • Offline Application: The applicants can approach the Bank Rakyat Auto Hire Purchase Financing-i (An Naqlu 2) application through the bank’s customer service or hotline numbers. The application can also be completed at the nearest Bank Rakyat branch.
    • Online Application: Another way to apply is by visiting the Bank Rakyat’s official web portal. The applicants can put in their request by filling out the application form available online and submitting it along with the supporting documents.

    Fees and Charges

    Late payment charges (before the maturity of the term period) 1% p.a. on the overdue instalment amount.
    Late payment charges (after the maturity of the term period) The late payment charges after the term’s maturity depend upon the IIMM (Islamic Interbank Money Market) rate.
    Stamp Duty 0.5% of the total approved financing amount as per Stamp Duty Act 1949.
    Wakalah Fee RM30.
    Issuance of letter to JPJ for change of vehicle engine number RM15.90 per document.
    Issuance of letter to JPJ for change of vehicle registration number RM15.90 per document.
    Issuance of letter to authority for transfer of vehicle to East Malaysia or vice versa RM15.90 per document.

    Note: JPJ = Jabatan Pengangkutan Jalan (Road Transport Department Malaysia)


    1. Q. Can I make an overpayment on my designated monthly instalment? Will I be charged any fee in such cases?

      A. Yes. You can make an overpayment and/or early payment on the monthly instalment. No fee will be imposed in such cases.

    2. Q. Is it required to take the takaful coverage with the Bank Rakyat Auto Hire Purchase Financing-i (An Naqlu 2)?

      A. It’s highly advised to take the motor takaful coverage for the entire period of Bank Rakyat Auto Hire Purchase Financing-i (An Naqlu 2).

    3. Q. Do I need to bring a guarantor with me for the application process?

      A. The requirement of a guarantor varies from case to case. The applicants who do not meet the required terms and conditions may need to bring a guarantor with them to the application process.

    4. Q. Can I make an early payment and settle the whole financing amount? Is there a benefit associated with doing the same?

      A. Yes. You can choose to settle the financing amount any time during the term period. You are entitled to a rebate in such cases.

    5. Q. Is there a lock-in period associated with the early settlement of the loan?

      A. You are required to inform the bank about the early settlement in the form of a written notice one month before opting for the same.

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