• Car Loan BYTES FROM OUR KITCHEN

    RHB Car Loan

    RHB Car Loan is a hire purchase package by RHB Bank that provides you with funds for vehicle purchase. Coming with a high margin of financing, the facility offers a range of funds to the individuals at a competitive interest rate.


    You’re probably eligible for an RHB Bank Car Loan if you are

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    RHB Bank Car Loan Minimum Age

    At least 18 years old

    RHB Bankk Car Loan Maximum Age

    Less than 55 years old

    RHB Bank Car Loan Eligible Employment Type

    Salaried or self-employed with regular income

    RHB Bank Car Loan Minimum Income

    Earn more than the minimum income required


    Your RHB Bank Car Loan amount eligibility is based on these factors

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    RHB Bank Car Loan Maximum Loan to Value

    Loan capped @
    Up to 90% of the ex-showroom price

    RHB Bank Car Loan Installment

    Installments of other loans lower your eligibility


    Increase your eligible RHB Bank Car Loan amount by these steps

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    RHB Bank Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    RHB Bank Car Loan Maximum Tenure

    Choose longer tenure loan up to 9 years


    Documentation needed to apply for RHB Car Loan

    • 1. Applicant’s identity card’s copies (both sides)
    • 2. Photocopies of both sides of the guarantor’s identity card
    • 3. Applicant’s driving license photocopy
    • 4.Either the salary slip for the last month or crediting bank statement for the recent month
    • 5. For East Malaysia: Trading license
    • 6. For Sdn Bhd (Sendirian Berhad): Borang 24 and Borang 49
    • 7. Latest Borang BE with a validated payment receipt to LHDN

    RHB Bank Car Loan Interest RatesUpdated on 21 Jul 2018

    RHB Bank Car Loan Details
    Margin of Finance Up to 90%
    Tenure 9 years
    Guarantor Requirement Required

    Types of RHB Car Loans

    RHB offers 2 types of car loans to its customers:

    • RHB Hire Purchase: This financing facility comes with a fixed and competitive profit rate range and lets individuals choose from a flexible financing tenure for the repayment.
    • RHB Vehicle Financing-i: This scheme comes with a competitive profit rates. Under this facility, the ownership of the vehicle gets transferred to the customer after he/she fully pays back the financing amount to the bank.

    Features & Benefits

    The following is the list of features and benefits associated with RHB Car Loan:

    • The loan facility offers fast approval and disbursal times.
    • The funds you obtain through the RHB Car Loan come at a competitive range of interest rates.
    • The loan scheme provides you with a high range of financing, i.e. 90% of the cost of the vehicle.
    • You can choose from a wide range of repayment tenures available with this loan facility that has a maximum limit of 9 years.
    • The repayment for the loan can be made via convenient and easy modes of payment like interbank GIRO, internet banking, CDMs (Cash Deposit Machines), ATMs, Cheque Deposit Terminals, by placing standing instructions on an account, at selected branches of Pos Malaysia Berhad, and at more than 200 RHB branches over the country.

    Interest/Profit Rates

    The interest rates of the RHB Car Loan will be calculated as per bank’s discretion and is dependent on the loan amount approved and tenure chosen.

    Eligibility Criteria

    The eligibility criteria for RHB Car Loan are given below:

      For individual: The following individuals are eligible to apply for RHB Car Loan:
      • Individuals aging 18 years or older.
      • Sole proprietorships.
      • Partnerships.
      For guarantor: The following applicants require to bring a guarantor at the time of application:
      • If an individual is below 21 years or above 60 years old.
      • If the applicant is Non-Malaysian.
      • When the affordability in meeting repayment obligations is in concern.
      For Business/Corporation: The following are eligible for the RHB Car Loan:
      • Partnerships.
      • Sole proprietorships.
      • Private Limited Companies.
      • Public Listed Companies.

    Documents Required

      For Individual Applicants:

      • Salaried Earners With Employment Under MNCs & PLCs:
        • Copies of both sides of the identity card of the applicant.
        • Copies of both sides of the identity card of the guarantor (if required).
        • A photocopy of the driving license of the applicant.
        • Last one month’s salary slip, last one month credit bank statement, or latest EPF statement.
      • Salaried Earners With Employment Under Non-mncs or SMEs:
        • Photocopies of both sides of the identity card of the applicant.
        • Photocopies of both sides of the guarantor’s identity card (if required).
        • Applicant’s driving license photocopy.
        • Latest salary slips, crediting bank statement for the last month, or interim EPF statement.
      • Government Employees or Employees of Government Agencies:
        • Applicant’s identity card’s copies (both sides).
        • Guarantor’s identity card’s copies (both sides).
        • A copy of the driving license of the applicant.
        • Either the salary slip for the last month or crediting bank statement for the recent month.
      • Self-employed Individuals:
        • Latest Borang /BE with validated payment receipt to LHDN, or personal or company’s bank statement for the last 6 months.
        • Sole proprietorships or partnerships: Business registration form A or B.
        • For East Malaysia: Trading license.
        • For professional practices: The current and valid professional practice certificate issued by the relevant competent body.
        • For Sdn Bhd (Sendirian Berhad): Borang 24 and Borang 49.
      • Commission Earners:
        • Salary slips’ copies for the last 6 months.
        • Crediting bank statements for the recent 6 months, or
        • Latest Borang BE with a validated payment receipt to LHDN.

      For Corporate Applicants:

      • For Limited Companies Employees:
        • Certified true copy of form 24 with issued shares and authorised share capital.
        • Certified true copy of form 49 with names and details of the company’s secretary and all the directors.
        • Certified true copies of Articles of Association and Memorandum.
        • A copy of Certification of Incorporation (Form 9 and 13).
        • Certified true copy of the extract of the Director’s Resolution.
        • A copy of Certificate of Commencement of Business (Form 23).
        • The latest copies of Audited Accounts or bank statements for the last 6 months.
      • For Partnerships & Sole Proprietorship's:
        • Any partnership agreement (if applicable).
        • A copy of the Certificate of Business Registration.
        • A copy of Borang D.
        • Photocopies of the identity cards of sole proprietors or partners.
        • Copies of financial accounts or bank statements for the last 6 months.

    How To Apply

    • Offline Application: You can directly walk into the nearest RHB Bank branch and apply for the RHB Car Loan. The RHB Car Loan process would require you to submit the required documents along with the application form filled up with necessary details. Another way to approach the process is by contacting the bank via its customer service numbers.
    • Online Application: You can also approach the RHB Car Loan process via the online portal of the bank. You can contact the bank online or via social media for the RHB Car Loan application.

    Fees & Charges

    The following table contains the fees and charges associated with RHB Car Loan:

    Stamp Duty (HP agreement) RM10.60.
    Supplementary HP agreement RM21.20.
    Road tax renewal RM10.60 per transaction.
    Redemption statement (as requested by the third party) RM31.80 per request.
    Discharge and release letter by the third party RM31.80 per request.
    Late payment charges 8% p.a. on the amount in arrears.
    Retrieval of letter of insurance RM23.30 per request.
    Issuance of letter of consent for transferring the vehicle to East Malaysia or vice versa RM23.30 per request.
    Audit confirmation per account RM23.30.

    FAQ's

    Q. How is the monthly payment calculated for the RHB Car Loan?

    A. The monthly payment for the RHB Car Loan depends upon the loan amount, the financing term, and the financing rate.

    Q. Does the RHB Car Loan process require a guarantor?

    A. Depending upon the merits of each application, the requirement of the guarantor may change.

    Q. I am a Singaporean living in Malaysia. Do I need to bring a guarantor with me at the RHB Car Loan application process?

    A. Yes. Foreign applicants need to be accompanied with a guarantor at the time of application.

    Q. Am I allowed to make an early settlement on the loan facility? If yes, is there a lock-in period associated with the same?

    A. You have the liberty to terminate the loan facility before its maturity. The facility doesn’t have a lock-in period.

    Q. Is it necessary to get the insurance coverage with RHB Car Loan?

    A. Yes. It’s compulsory to opt for the motor insurance coverage with your RHB Car Loan.

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