Bank Rakyat Gold Card-i
This low interest Islamic credit card offers the cardholder a complimentary group family Takaful cover that cover any outstanding balance accrued through credit card usage in the event of total permanent disability or death of the cardholder. This Takaful cover prevents the burden of credit card dues from passing on to the family.
Bank Rakyat Gold Credit Card-i Benefits
The Bank Rakyat credit card is designed for everyday use and is a no frills credit card that allows the cardholder to earn reward points on every purchase. The credit card has a low interest rate of 13.5% p.a. This coupled with cash back from the reward points earned help the cardholder to maximize their savings and encourage them to use the card more.
The reward points earned are called Rakyat rewards and accumulate at a rate of 1 reward point for every RM 10 spent. These points are then converted into cash back at the rate of RM 0.10 for every 10 points. These points have no expiry date. The card also offers a complimentary Group Family Takaful cover that covers the outstanding dues accrued through the use of the credit card.
Bank Rakyat Gold Credit Card-i Features
The features of the Bank Rakyat Gold Visa card-i are as follows
- The annual interest rate charged by the card is 13.5%.
- The card has no annual fees and is free for life.
- The supplementary card has no annual fees and is free for life.
- The minimum monthly payment is RM 50 or 5% of the outstanding balance.
- Late payments attract a late payment penalty of RM 10 or 1% of the outstanding amount.
- The cash withdrawal fee for this card is the higher of RM 21.20 or 3.18% of the withdrawn amount.
- The daily cash withdrawal limit is RM 5000 and cash withdrawals attract an interest rate of 18% p.a.
- The card is equipped with a free Group Family Takaful coverage that covers any outstanding credit card dues.
- The card has a Balance transfer plan with a tenure of 12 months.
Bank Rakyat Gold Credit Card-iRequirements or Eligibility
The eligibility criteria to apply for the Bank Rakyat Gold Visa card-i is as follows
- The primary cardholder must earn an annual salary of RM 36,000 and above.
- The minimum age of Primary cardholder should be 21 years as at last birthday.
- The maximum age of the Primary cardholder should be 65 years as at last birthday.
- The minimum age of Supplementary cardholder should be 18 years as at last birthday.
- Any Malaysian or foreign national with a valid work visa can apply for the card if they meet the income and age criteria.
Bank Rakyat Gold Credit Card-iProtection Plan
The Bank Rakyat Gold credit card-i offers a complimentary Group Family Takaful coverage that covers the outstanding dues accrued through use of the credit card from unfortunate events such as total and permanent disability or death of the cardholder. In such cases where the cardholder cannot repay the outstanding dues, the amount is covered by Takaful insurance. The outstanding amounts due under balance transfer plans for this card are also covered by the Takaful insurance.
Balance Transfer Plan by Bank Rakyat Gold Credit Card-i
Bank Rakyat recently launched their Balance transfer program which is a first of its kind in Malaysia. This plan not only allows the cardholders to consolidate their outstanding credit card dues but also offers a cash rebate of up to 3%.The available tenure under this balance transfer plan is 12 months and charges an interest rate of 9% p.a. additionally, any outstanding dues under the balance transfer program are covered by Takaful insurance.