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Bank Rakyat Personal Financing-i facility offers personal loan to civil servants so that they can meet their personal financing requirements. The loan package works on the concept of Tawarruq.
The following are the features and benefits of this loan:
|Type of Payment||Duration||Rate|
||Up to 3 years||4.54% p.a.|
|Between 3 to 10 years||4.99% p.a.|
|Instalments paid through electronic payment||Up to 3 years||5.64% p.a.|
|Between 3 to 10 years||6.26% p.a.|
Note: The Current Base Rate (BR) is 4.10% p.a.
|Type of Payment||Duration||Profit Rate||Effective|
|Salary Transfer||Up to 3 years||BR + 2.31%||6.41% p.a.|
|3 years to 10 years||BR + 2.94%||7.04% p.a.|
|BPA and Salary Deduction||Up to 3 years||BR + 3.12%||7.22% p.a.|
|3 years to 10 years||BR + 3.65%||7.75% p.a.|
|Electronic Payment||Up to 3 years||BR + 5.12%||9.22% p.a.|
|3 years to 10 years||BR + 5.65%||9.75% p.a.|
|Type of Fee||Charges|
|Stamp Duty||0.5% of the total financing as per the Stamp Duty Act of 1949.|
Online: You can apply for the Bank Rakyat Personal Financing-i Public Sector loan through the official website of Bank Rakyat. You can click on the ‘Apply Now’ tab available on the product page to complete the application process.
Offline: Alternatively, you can visit the nearest Bank Rakyat branch and request to apply for the loan.
Q. What is the maximum financing amount that this loan provides?
A. The maximum financing amount that you can get is up to RM200,000.
Q. Is it mandatory for me to take the takaful coverage?
A. No. It is optional. However, it is advisable to take the coverage. You can either take it from the takaful operator selected by the bank or from any other operator within Malaysia.
Q. Can I fully settle the financing before its maturity period?
A. Yes. In this case, the bank will give you a rebate (ibra') on the profit you did not accrue.
Q. What are the different instalment methods that the bank offers to its customers?
A. The following are the different methods available:
Q. How do I inform the bank if there are any changes to my contact details?
A. You can inform the bank in the following manner: