Cash woes? A personal loan to the rescue!

    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

    Loan Amount Loan Tenure Min. Income Profit Rate
    Up to RM200,000 1 to 10 years RM1,000 per month (fixed income that includes fixed allowances) 3.26% - 6.53% (flat rate)


    Interest Rate Starting from 3.26% to 6.53% (on flat rate basis)
    Effective Rate NA
    Minimum Loan Amount NA
    Maximum Loan Amount Up to RM200,000
    Loan Tenure Up to 10 years
    Islamic/Conventional Islamic
    Debt Consolidation NA
    Takaful Coverage Optional
    Approval Duration NA
    Government Servant? No


    • 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 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 The bank provides rebate (ibra’) on early settlement of the financing amount. It 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 applicable financing tenure)

    Eligibility Criteria

    Nationality Criterion Malaysian citizen
    Age Requirement Minimum age: 18 years Maximum age: 60 years (at the end of the financing tenure)
    Employment Minimum 3 months completed in a service
    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 your special account

    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 Application Repeated/Overlapping Application
    Income Related Documents
    • Latest salary slips (for 3 months)
    • Latest bank statements of salary crediting account (for 3 months)
    Any one of the following:
    • Employment confirmation letter
    • EA form
    • Latest salary slips (for 3 months)
    Other Documents
    • A copy of MyKad
    • A copy of MyKad

    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.


    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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