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  • Personal Loan BYTES FROM OUR KITCHEN

    RHB Personal Loan

    RHB is one of the leading banking institutions in Malaysia and is currently the fourth largest fully integrated financial services group operating in the country. RHB provides banking products and solutions to consumer banking, corporate banking, investment banking, and client coverage among other services. The loan products it offers, specifically the personal loans and overdraft facilities are a popular and sought-after choice largely due to the ease with which one can apply for the loans and the competitive rates it offers.

    Compare Personal Financing by RHB

    Name of Personal Loan Flat Rate Max. Loan Amount Min. Monthly Income Tenure Processing Fee More Info.
    RHB Easy Pinjaman Ekspres Personal Loan Competitive Flat Rate RM150,000 - Up to 5 years No  
    RHB Personal Financing-i for Private 8.18% p.a. to 13.45% p.a. RM150,000 - Up to 7 years NA  
    RHB Personal Financing-i For Pensioners 5.25% p.a. RM100,000 Min. Gross Pension Payment: RM750 Up to 10 years NA  
    RHB Personal Financing-i Civil Sector 4.50% p.a. RM200,000 RM2,000 (including fixed allowance) Up to 10 years NA  

    *(Current BR (Base Rate as of 2 February 2018) for RHB = 3.90% p.a.)

    Features

    Interest Rate Flat rate starting from 8.18% p.a. that is similar to EIR of 15% p.a.
    Loan Tenure Maximum financing tenure up to 19 years
    Minimum Monthly Income From RM2,000
    Minimum Loan Amount RM2,000
    Islamic/Conventional Available in both formats of banking
    Debt Consolidation -

    Interest Rates

    Category Minimum loan amount Maximum loan amount Interest rate EIR Maximum available tenure
    Tier 1 RM2,000 RM10,000 13.45% p.a. 24% p.a. 5 years
    Tier 1 RM11,000 RM15,000 13.45% p.a. 24% p.a. 7 years
    Tier 2 RM16,000 RM50,000 11.66% p.a. 21% p.a. 7 years
    Tier 3 RM51,000 RM99,000 9.91% p.a. 18% p.a. 7 years
    Tier 4 RM100,000 RM150,000 8.18% p.a. 15% p.a. 7 years

    ASB/ASB2 Financing:

    The interest rate charged for the first 4 years is BR + 1.55% p.a. with an EIR of 5.20% p.a. For subsequent years, the interest rate charged is BR + 1.15% p.a. with an EIR of 4.80% p.a.

    Benefits

    Following are benefits of RHB Personal loans:

    • The loans come in both secured and unsecured variants.
    • The loans can be borrowed for specific purposes or miscellaneous expenses alike.
    • Tenures offered by the personal loan range from a minimum of 1 year to a maximum of 7 years whereas the ASB/ASB2 financing offers a tenure of 30 years.
    • The flexible tenures offered by the loans allow borrowers to settle on a monthly instalment amount that would allow for easier repayment taking into account their financial constraints.
    • Loan amounts offered can range from a minimum of RM2,000 to a maximum of RM150,000 for the personal loan and a minimum of RM20,000 to a maximum of RM200,000 for the ASB/ASB2 financing package.
    • The ASB/ASB2 financing offers up to 100% margin of finance.

    Fees and Charges

    Fee Type Charges
    Stamp Duty fee As per Stamp Duties Act of 1949
    Disbursement fee No fee
    Processing fee No fee
    Late payment fee 1% p.a. on arrears charged on daily basis until arrears have been fully repaid
    Early settlement fee (personal loan) RM100 or 1% of outstanding loan amount, whichever is higher if loan is settled within lock-in period
    Endorsement fee (ASB/ASB2 financing) RM53
    Early settlement fee (ASB/ASB2 financing) Fee based on the difference between the Board Rate of the ASB/ASB 2 financing and the ASB/ASB2 offer rate is charged

    What documents do I need to prepare for this loan?

    Salaried applicants:

    • A copy of the applicant’s MyKad both front and back
    • A copy of the latest payslip or
    • A copy of the latest 1 month commission statement (if applicable) and bank statement or
    • A copy of the most recent 6 months’ EPF Statement (6 Months)
    • A copy of the latest Form B/BE with tax receipt

    Self-employed applicants:

    • A copy of the applicant’s MyKad both front and back
    • Form 9, 24, 49 or copy of Business Registration Certificate
    • A copy of the most recent 6 months’ bank statement

    Commission earning applicants:

    • A copy of the applicant’s MyKad both front and back
    • Salary slips or commission statement for the past 6 months
    • A copy of the bank Statement for the past 6 months or
    • Latest BE Form

    How to Apply for personal loan from RHB?

    Borrowers can apply for the loan by downloading the application form which is available on the RBH website. Borrowers must submit the duly filled application form along with the required supporting documents at the nearest RHB branch.

    Borrowers can also visit the nearest RHB branch directly and initiate the application process. Once the form has been submitted, borrowers can track the status of their applications using the RBH Bank internet banking facilities.

    Repayment Mode

    You can make your personal financing-i repayments through the following methods:

    • First monthly repayment deducted directly from the facility
    • Via salary deduction
    • Via bank accounts, etc.

    For Pensioners

    RHB offers a Personal Financing-i scheme for pensioners (Malaysian government) for a convenient tenure of up to 10 years. The financing is offered at a flat profit rate of 5.25% p.a. and the maximum amount of financing provided is up to RM100,000. Minimum financing amount granted is RM5,000. You do not need to present a guarantor to get this type of financing. Brokerage fee of RM30 is applicable on this financing facility.

    Eligibility criteria:

    • Minimum age: 40 years old
    • Minimum gross pension payment: RM750

    For Government Servant

    If you are a government sector employee and you are looking for a personal financing scheme, you can consider RHB Personal Financing-i for Civil Sector. The scheme is offered at a promotional flat profit rate of 4.50% p.a. Financing amount offered is up to RM200,000 for a payment tenure of up to 10 years. You do not need to present a guarantor to obtain this type of financing. This facility is also available with a salary deduction scheme.

    Eligibility criteria:

    • Nationality criterion: Malaysian citizen
    • Age criteria: Minimum age 18 years and maximum age up to 58 years old (at the end of the financing tenure)
    • Income criteria: RM 2,000 (including all fixed allowances)

    Customer Care Number

    If you have any queries about any of the personal financing-i schemes offered by RHB, you can reach to the representatives of the bank on, the following numbers:

    03-9206 8118: For Overseas and West Malaysia

    082-276118: For East Malaysia (Operational from Monday to Thursday (8.30 a.m. to 5.30 p.m.) and Friday (8.30 a.m. to 4.30 p.m.))

    FAQs

    Q. How is the interest rate charged on the loans?

    A. The interest rate charged on the loans is based on the Rule 78 method where the initial instalments paid will comprise a larger percentage of the interest of the loan and the latter half of the instalments will comprise a larger percentage of the principal loan amount.

    Q. Is there a lock-in period on the loan?

    A. Yes. For the Personal loan, the lock-in period is 6 months whereas the ASB/ASB2 Financing has a lock-in period of 2 years.

    Q. Will loans settled after the lock-in period but before the maturity of the tenure attract any penalties?

    A. No. Once the lock-in period has been completed, settlement of loans will not attract any early settlement charges.

    Q. How is the exit fee on ASB/ASB2 Financing computed?

    A. The fee is computed by taking into account the difference between the ASB/ASB2 board rate and the ASB/ASB2 offer rate. The following formula is used:

    Exit fee = [(a-b)/100] X c X (d/365) where a is the board rate, b is the offer rate, c is the original financing amount and d is the number of days with the bank on the loan agreement.

    Q. Is insurance cover mandatory for the loan?

    A. No. The loan does not require a compulsory insurance cover but RHB strongly encourages borrowers to acquire one.

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