• Personal Loan BYTES FROM OUR KITCHEN

    Bank Rakyat Personal Financing-i Public

    Bank Rakyat Personal Financing-i Public is a personal loan offered for all those working in public sectors. This loan is based on the Shariah concept of Tawarruq. You can take a loan with either fixed profit rate or floating profit rate.

    Profit Rates

    Type of Payment Loan Tenure Floating Profit Rate Fixed Profit Rate
    Electronic Payment Up to 36 Months BR (4.10%) + 5.12% p.a. 4.95% p.a.
    37 to 120 Months BR (4.10%) + 5.65% p.a. 5.69% p.a.
    Salary Deduction Up to 36 Months BR (4.10%) + 3.12% p.a. 3.84% p.a.
    37 to 120 Months BR(4.10%) + 3.65% p.a. 4.40% p.a.
    Salary Transfer To Bank Rakyat Up to 36 Months BR (4.10%) + 2.31% p.a. 3.40% p.a.
    37 to 120 Months BR(4.10%) + 2.94% p.a. 3.96% p.a.
    Biro Perkhidmatan Angkasa (BPA) Up to 36 Months BR (4.10%) + 3.12% p.a. 3.84% p.a.
    37 to 120 Months BR(4.10%) + 3.65% p.a. 4.40% p.a.

    Features and Benefits

    • You can borrow loan amount up to a maximum of RM2 million.
    • You can go for a long tenure up to a maximum of 10 years.
    • You can opt for a Takaful cover as per your preference.
    • You can choose either fixed profit rate or floating profit rate as per your budget.
    • You need not present any collateral or guarantor to get this loan.
    • You can choose to repay your loan through electronic payments.

    Fees and Charges

    Following are the various applicable fees and charges:

    Stamp duty 0.5% of the total financing is charged as the stamp duty charge. You are advised to take Takaful coverage from the Takaful company that is appointed by Bank Rakyat.
    Agency fee or Wakalah RM30 + 6% GST.
    Compensation charge for late payment 1% p.a. on the outstanding amount of monthly payment during the financing tenure. After the financing tenure, you will be charged on the outstanding principal balance based on the current Islamic Interbank Money Market Rate.

    Eligibility Criteria

    Who can apply?

    • You need to be a Malaysian citizen.
    • You need to be aged a minimum of 18 years and a maximum of 60 years (at end of loan tenure).
    • You need to earn a minimum monthly income of RM1,000 which would include any fixed allowances.
    • You need to be employed at any public sector, GLC companies and GLC subsidiaries.
    • You need to have completed a minimum of 3 months in service.

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

    • New applicants
    • Copy of MyKad
    • Latest salary slip (3 months)
    • Latest bank statement (3 months)
    • EA form or Confirmation letter from employer
    • Returning customers
    • Copy of Mykad
    • Latest salary slip (3 months)

    Repayment table

    Floating profit rates

    Other Payment Modes Loan Tenure
    Loan Amount 1 year 2 years 5 years 10 years
    RM5,000 RM434 RM225 RM101 RM61
    RM10,000 RM867 RM449 RM202 RM121
    RM50,000 RM4,332 RM2,244 RM1,008 RM601
    RM100,000 RM8,663 RM4,488 RM2,016 RM1,201
    RM150,000 RM12,995 RM6,731 RM3,024 RM1,801
    RM200,000 RM17,326 RM8,975 RM4,032 RM2,401
    Electronic Payment Loan Tenure
    Loan Amount 1 year 2 years 5 years 10 years
    RM5,000 RM438 RM229 RM106 RM66
    RM10,000 RM876 RM458 RM212 RM131
    RM50,000 RM4,378 RM2,290 RM1,057 RM654
    RM100,000 RM8,756 RM4,579 RM2,113 RM1,308
    RM150,000 RM13,134 RM6,868 RM3,169 RM1,962
    RM200,000 RM17,511 RM9,158 RM4,225 RM2,616

    Fixed profit rates

    Other Payment Modes Loan Tenure
    Loan Amount 1 year 2 years 5 years 10 years
    RM5,000 RM436 RM228 RM105 RM63
    RM10,000 RM872 RM455 RM209 RM125
    RM50,000 RM4,356 RM2,273 RM1,042 RM625
    RM100,000 RM8,712 RM4,545 RM2,083 RM1,250
    RM150,000 RM13,068 RM6,818 RM3,124 RM1,874
    RM200,000 RM17,424 RM9,090 RM4,165 RM2,499
    Electronic Payment Loan Tenure
    Loan Amount 1 year 2 years 5 years 10 years
    RM5,000 RM441 RM232 RM110 RM68
    RM10,000 RM881 RM464 RM219 RM136
    RM50,000 RM4,402 RM2,319 RM1,095 RM678
    RM100,000 RM8,804 RM4,637 RM2,189 RM1,355
    RM150,000 RM13,205 RM6,955 RM3,283 RM2,033
    RM200,000 RM17,607 RM9,274 RM4,377 RM2,710

    How to apply for a loan?

    • You can submit an online enquiry form on bank website. Complete the form with relevant details and contact information. A bank representative will call you back to assist you with the application process.
    • You could also visit the nearest Bank Rakyat branch and request to apply for the loan. The duly-filled form must be submitted along with the supporting documents for the application to be processed.

    FAQs

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

    A. The fees and charges for this loan are:

    • Stamp Duty: This would be 0.5% of your total financing amount.
    • Wakalah: This would be RM30 inclusive GST 6%.
    • Late Payment: This would be 1% p.a. of your total outstanding amount.

    Q. Does the profit rate change if Takaful cover is not taken?

    A. Yes. There will be an additional profit rate up to 0.86% p.a. (fixed rate) or up to 1.5% p.a. (floating rate) over the current profit rate if you take up a loan without Takaful cover.

    Q. Do I need to pay any security deposit to take up this loan?

    A. Yes. Once your loan is approved, an amount equal to 2 months instalment would be set aside as a security deposit. This amount would be credited in a special account under your name.

    Q. Why is a security deposit required?

    A. The security deposit would be used to pay any arrears if you default on your loan payment.

    Q. What is the contact number for any enquiries regarding my loan?

    A. You can contact customer service line at 1300 80 5454.

    Q. What would happen if the profit rates change during my tenure?

    A. You will be informed at least 21 days in advance before the new profit rates are implemented.

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