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.
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.
|Margin of Finance||Up to 90%|
RHB offers 2 types of car loans to its customers:
The eligibility criteria for RHB Car Loan are given below:
For Corporate Applicants:
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.|
The following is the list of features and benefits associated with RHB Car Loan:
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.