Cash woes? A personal loan to the rescue!

    Bank Rakyat Personal Financing-i Private

    Bank Rakyat Personal Financing-i Private is a personal loan offered for all those working in the private sector. This loan is available for eligible customers with fixed and floating profit rates. This financing is based on Shariah principles of Murabahah.

    Profit Rates

    Loan Amount Loan Tenure Min. Income Profit Rate
    Up to RM150,000 Up to 10 years RM2,000 per month (fixed income that includes fixed allowances) 4.95% - 9.37% (flat rate)


    Interest Rate Starting from 4.95% to 9.37% (on flat rate basis)
    Maximum Loan Amount Up to 25 times your monthly gross income
    Loan Tenure Up to 10 years
    Islamic/Conventional Islamic
    Debt Consolidation NA
    Takaful Coverage Optional
    Approval Duration NA
    Government Servant? No


    • You can get financing up to a maximum of RM150,000.
    • You can choose a long-term tenure up to maximum 10 years.
    • You need not present a guarantor or collateral to take up this loan.
    • You can opt for Takaful coverage as per your preference.
    • You can choose either floating profit rate or fixed profit rate.
    • You can get a rebate if you settle your loan fully before maturity.

    Fees and Charges

    Following are the various applicable fees and charges:

    Stamp Duty Charges 0.5% of total financing amount (as per the Stamp Duty Act 1949)
    Processing Fee NA
    Disbursement and Miscellaneous Fee NA
    Wakalah (agency fee) RM28.30 (includes brokerage fee)


    Early Settlement Charges Bank Rakyat provides rebate (ibra’) on early settlement of the financing amount.
    Ibra is calculated as follows: Ibra’ = Deferred Profit + Undisbursed Principal (if any) – Other Charges (if any)
    Late Payment Charges 1% p.a. on total outstanding amount of the monthly payment (during financing tenure)
    As per current Islamic Interbank Money Market Rate (after the set financing tenure)

    Eligibility Criteria

    Nationality Criterion Malaysian citizen
    Age Requirement
    • Minimum age: 18 years
    • Maximum age: 60 years (at the completion of the financing tenure)
    Employment Confirmed in employment
    Minimum Income Requirement Fixed monthly income of RM1,000 (including fixed allowances)
    Guarantor/Collateral Requirement
    • Guarantor = Must present whenever the bank asks for it
    • Collateral = Not required
    Should I have a linked bank account? Yes, the bank will disburse the approved financing amount to the special account

    Who can apply?

    • You need to be a Malaysian citizen.
    • You need to be aged minimum 18 years and maximum 60 years (at the end of loan tenure).
    • You need to earn a minimum monthly income of RM2,000 if you are a permanent employee and a minimum monthly income of RM8,000 if you are a contract employee.

    What documents do I need to prepare for this loan application?

    New Application Repeated/Overlapping Application
    Income Related Documents
    • Latest payslips (for 3 months)
    • Latest bank statements of salary crediting account (for 3 months)
    • EPF statement
    Any one of the following:
    • Employment confirmation letter
    • EA form
    • e-B slip by LHDN
    • Latest salary slips (for 3 months)
    • EPF statement
    Other Documents
    • A copy of MyKad
    • A copy of MyKad

    How to apply for a loan?

    • You can apply by completing and submitting an online enquiry form. You need to fill relevant details such as your contact number and personal details. A bank representative will contact you to help you with the application process.
    • You can visit your nearest branch to apply for a loan. Carry the required documents with you, and a bank staff will help you with the application process.

    Repayment table

    Loan Amount Loan Tenure
    1 year 2 years 3 years 5 years 7 years 9 years 10 years
    RM5,000 RM444 RM235 RM165 RM111 RM88 RM75 RM71
    RM10,000 RM887 RM469 RM330 RM221 RM175 RM150 RM142
    RM20,000 RM1,773 RM937 RM660 RM442 RM350 RM300 RM283
    RM50,000 RM4,431 RM2,342 RM1,649 RM1,103 RM873 RM749 RM707
    RM75,000 RM6,646 RM3,512 RM2,473 RM1,654 RM1,309 RM1,123 RM1,060
    RM100,000 RM8,861 RM4,683 RM3,297 RM2,206 RM1,746 RM1,498 RM1,413
    RM125,000 RM11,076 RM5,854 RM4,121 RM5,757 RM2,182 RM1,872 RM1,767
    RM150,000 RM13,291 RM7,024 RM4,945 RM3,308 RM2,618 RM2,246 RM2,120

    Repayment table for electronic payment

    Loan Amount Loan Tenure
    1 year 2 years 3 years 5 years 7 years 9 years 10 years
    RM5,000 RM439 RM230 RM161 RM106 RM83 RM70 RM66
    RM10,000 RM877 RM460 RM321 RM211 RM165 RM139 RM131
    RM20,000 RM1,754 RM919 RM641 RM422 RM329 RM378 RM261
    RM50,000 RM4,384 RM2,296 RM1,601 RM1,054 RM821 RM694 RM651
    RM75,000 RM6,576 RM3,443 RM2,402 RM1,580 RM1,231 RM1,041 RM976
    RM100,000 RM8,767 RM4,591 RM3,202 RM2,107 RM1,641 RM1,388 RM1,301
    RM125,000 Rm10,959 RM5,738 RM4,003 RM2,633 RM2,051 RM1,735 RM1,626
    RM150,000 RM13,151 RM6,886 RM4,803 RM3,160 RM2,461 RM2,082 RM1,951


    Q. What are the fees and charges for this product?

    A. The following are fees and charges for this loan:

    • Stamp Duty: 0.5% of the total financing amount.
    • Agency Fees: RM30 + 6% (GST).
    • Late Payment Fees: 1% p.a. on the total outstanding amount.

    Q. Is Takaful cover optional for this loan?

    A. Yes. However, it is recommended that you do take up Takaful cover. You can either choose a Takaful operator appointed by Bank Rakyat, or you can use any other Takaful provider of your preference.

    Q. Are there any benefits of a Takaful cover?

    A. Yes. A Takaful cover will help the bank to recover your loan amount where you are unable to pay for it due to reasons such as total and permanent disability or death. In such an event, your family members need not face more financial burden.

    Q. Do I have to pay a security deposit to take up this loan?

    A. Yes. The bank will deduct an amount equivalent to a 2-month instalment amount from your approved loan amount and credit it to a special account under your name. This will serve as a security deposit. This amount will be set off against any outstanding dues on your loan.

    Q. Do I need to maintain a minimum balance as a security deposit?

    A. Yes. You need to maintain a 2-month instalment amount as a minimum balance.

    Q. Will I be informed if my security deposit is used to pay my outstanding dues?

    A. Yes. Bank will notify you at least 7 days in advance before setting off your security deposit.

    Q. Whom can I contact in case of enquiries or complaints?

    A. You can call:

    • Customer Service: 1300 80 5454
    • Data Centre: 03 2612 9708 (outside business hours)

    Q. How long will the application process take?

    A. Bank Rakyat takes around 4-5 working days to process your loan application if you fulfil the eligibility criteria and submit the required documents.

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