RHB Vehicle Financing-i

    RHB Vehicle Financing-i is a financing scheme that works on Shariah guidelines of AITAB (Al Ijarah Thumma Al Bai’) concept. The financing facility provides the applicants with funds for vehicle purchase at a range of competitive profit rates. Under this facility, the ownership of the vehicle gets transferred to the customer after he/she fully pays back the financing amount to the bank.

    Features & Benefits

    • The customers can obtain a high range of financing via this financing scheme, i.e. up to 90% of the price of the vehicle.
    • The facility lets the customers choose from a wide range of financing tenures that can be extended to 9 years.
    • The facility comes with a fast approval.
    • The customers get a personalised service on their vehicle with this financing facility.
    • The customers can make the repayment for the financing facility through easy and convenient payment methods like internet banking, CDMs (Cash Deposit Machines), ATMs, interbank GIRO, Cheque Deposit Terminals, by placing standing instructions, at selected branches of Pos Malaysia Berhad, and over the counter at above 200 RHB branches across the country.

    Interest/Profit Rates

    Tenure Available Base Rate Effective Profit Rate
    Up to 9 years 6.60% p.a. (Base rate + spread)% p.a. with a maximum limit of 12% p.a.

    Eligibility Criteria

    • For Individual Applicant: The list of individual applicants eligible to apply for the RHB Vehicle Financing-i is given below:
      • Individuals who are at least 18 years old at the time of application.
      • Sole proprietor or the partners of a partnership.
    • For Business/Corporations: The following are eligible to apply for the RHB Vehicle Financing-i:
      • Sole proprietorships
      • Private Limited Companies
      • Partnerships
      • Public Listed Companies
    • For Guarantor: The RHB Vehicle Financing-i process requires the following to be accompanied with a guarantor:
      • Individuals who are younger than 21 years or older than 60 years at the time of application.
      • Non-Malaysian applicants.
      • When the applicant’s affordability in making repayments is concerned.

    Documents Required

    For Individual Applicants

    • Salaried Earners Working For MNCs (Multinational Companies) and PLCs (Public Listed Companies):
      • A copy of the identity card of the applicant (both sides).
      • A photocopy of the applicant’s driving license.
      • A copy of the identity card of the guarantor (both sides).
      • One of the following income proof documents: salary slip for the last month, latest interim EPF statement, or recent one month’s credit bank statement.
    • Individuals Working For Government/Government Agencies:
      • Copies of both front as well as back side of the applicant’s identity card.
      • A copy of the applicant’s driver’s license.
      • Copies of both front as well as back side of the guarantor’s identity card (wherever required).
      • Either salary slip or bank statement from the salary crediting account for the latest month.
    • Salaried Earners Working For Non-MNCs, SMEs (Small and Medium Enterprises):
      • A copy of the identity card of the applicant (both pages).
      • A photocopy of the applicant’s driving license.
      • A copy of the identity card of the guarantor (wherever required).
      • A copy of the latest month’s salary slip and either one of the interim EPF statement or the recent month’s crediting bank statement.
    • Self-employed Individuals (Sole proprietor, Partners, and Company Directors):
      • Personal/company’s bank statement for the 6 latest months, or the latest Borang /BE with validated payment receipt to LHDN.
      • The following applicants need to present the following particular documents:
        • Sole proprietorships or partnerships: Business registration form A or B.
        • For Sdn Bhd (Sendirian Berhad): Borang 24 and Borang 49.
        • For East Malaysian applicants: Trading license.
        • For professional practitioners: The current and valid professional practice certificate that is issued by the relevant competent body.
    • Individuals Who Are Commission Earners (Insurance Agents, General Commission Agents, Brokers, Remisier, and Multi-level Marketers):
      • Copies of salary slips for the 6 recent months.
      • Bank statement for the last 6 months from the salary crediting bank, or
      • Latest Borang BE with a validated receipt of payment to LHDN.
    • Additional Documents (wherever applicable): In cases where the customers opt to include their variable income (overtimes and commissions etc.) into the total income, they need to present these additional documents:
      • Salary slips for the 6 latest months.
      • Last 6 months’ bank statement.

    For Corporate Applicants

    • For Applicants Who Are Working For Limited Companies:
      • Certified true copies of Articles of Association and Memorandum.
      • Certification of Incorporation photocopy (Form 9 and 13).
      • A copy of Certificate of Commencement of Business (Form 23).
      • Certified true copy of form 24 that has the information of authorised share capital and issued shares.
      • Certified true copy of form 49 that includes names and details of all the directors and the company’s secretary.
      • Brief comments of director’s exposure, experience, and financial standing.
      • Certified true copy of the extract of the Director’s Resolution.
      • Copies of the latest Audited Accounts or Banker’s references (bank statements for the last 6 months).
      • A copy of the guarantor’s identity card, wherever applicable (both sides).
    • For Partnerships & Sole Proprietorships: The following is the list of additional documents that partnerships and sole proprietorships need to present at the time of RHB Vehicle Financing-i:
      • A copy of Borang D.
      • Certificate of Business Registration photocopy.
      • Copies of financial accounts or Banker’s references (bank statements for the 6 latest months).
      • Any partnership agreement (wherever applicable).
      • Photocopies of both sides of the identity cards of sole proprietors or partners.
      • Brief comments on financial standing, exposure, and experience of the sole proprietor or the partner(s).

    How To Apply

    • Offline Application: The customers can put in their request for RHB Vehicle Financing-i at the nearest RHB Bank branch. Another way to put in the request for the financing facility is by contacting the bank via the customer service numbers of the bank.
    • Online Application: The customers can also opt to apply for the RHB Vehicle Financing-i online on the official website of the RHB Bank.

    Fees & Charges

    The fees and charges associated with RHB Vehicle Financing-i are given in the following table:

    Stamp Duty (HP-i agreement) RM10.60 per agreement.
    Supplementary HP-i agreement RM21.20 per agreement.
    Road tax renewal RM10.60 per transaction.
    Redemption statement (as requested by third party) RM31.80 per request.
    Discharge and release letter by third party RM31.80 per request.
    Late payment charges (during the financing terms) 1% p.a. on the amount of overdue instalment.
    Late payment charges (after the completion financing term) To be calculated using IIMM (Islamic Interbank Money Market) rate.
    Retrieval of letter of takaful claim RM23.30 per request.
    Issuance of letter of consent for transferring the vehicle to East Malaysia or vice versa RM23.30 per request.
    Audit confirmation per account RM23.30.


    Q. In what cases does one need to be accompanied with a guarantor for the RHB Vehicle Financing-i application process?

    A. The requirement of guarantor varies from case to case. Applicants who are younger than 21 years or older than 60 years need to be accompanied with a guarantor. Also, the foreign applicants need to bring a local guarantor to the RHB Vehicle Financing-i application process.

    Q. What are the factors on which the monthly payments for the RHB Vehicle Financing-i depend upon?

    A. The monthly payments for the RHB Vehicle Financing-i depends upon the amount of financing, the financing tenure, and the financing rate.

    Q. Am I required to take the takaful coverage on my RHB Vehicle Financing-i?

    A. Yes. It is compulsory to take the motor takaful coverage with your RHB Vehicle Financing-i facility.

    Q. Can I opt to pay the entire outstanding amount at once on my RHB Vehicle Financing-i before the maturity of the facility?

    A. Yes. You can make an early settlement on the entire outstanding balance before the maturity of the facility.

    Q. What is the advantage of making an early settlement on the outstanding balance of RHB Vehicle Financing-i?

    A. If you decide to fully pay the outstanding amount before the maturity of RHB Vehicle Financing-i, you will be awarded with a rebate on the unused portion of the facility’s tenure.

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