• RHB Personal Loan

    RHB Personal Loan

    When you are looking for a personal finance option that is not only convenient but flexible at the same time, with reasonably lower interest rates, you may want to check out RHB Personal loan. Not only are the interest rates lower, but the bank also does not charge any processing fees for the loan. This is an option that is rarely found in personal finance products because processing fees are often made high to while keeping the interest rates low, by many banks. RHB Bank being one of the most reliable options in Malaysia when it comes to banking and personal as well as commercial financial products makes sure that you are not overwhelmed when making repayments for their product. To add to the advantage this option also comes with a reducing balance which means that the interest rates reduce with every monthly payment that has been made on time.

    If you do not have a collateral, you can also apply for this loan with the help of a guarantor. This is a Pinjaman Peribadi loan which means that the turnaround time for loan approvals is quick and easy. The maximum loan amount is also high, keeping in mind the requisites of a personal loan at RM1,50,000. However the minimum annual income is not made high for applicants, hence being set at RM 24,000. Also, there is flexibility in loan tenure with the bracket at 12-84 months but based on the loan amount. The interest rates are also anywhere between 13.45% - 8.18%. If you pay up the loan, you are charged a prepayment fees of only RM 100. Also, since RHB follows Islamic banking, the loan is made to conforms to all the Sharia laws.

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

     RHB Bank Personal Loan Minimum Age

    At least 21 years old

    RHB Bank Personal Loan Maximum Age

    Less than 65 years old

    RHB Bank Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

     RHB Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required

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

    RHB Bank Personal Loan Minimum Salary

    Minimum income required
    RM 2,000

    RHB Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is RM 200,000

    RHB Bank Personal Loan Installments

    Installments of other loans lower
    your eligibility

    Increase your eligible RHB Bank Personal Loan amount by these steps

    RHB Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     RHB Bank Personal Loan Tenure

    Choose longer tenure loan up to 7 years

    Documentation needed to apply for RHB Bank Personal Loan

    • 1.Copy of NRIC
    • 2. Copy of latest three (3) months pay slip
    • 3. Latest EPF statement
    • 4. Employment Confirmation Letter
    • 5.Other related documents

    RHB Bank Personal Loan Interest RatesUpdated on 25 Mar 2017

    RHB Bank Personal Loan Details
    Interest Rate 13.45% - 8.18%
    Minimum Income RM 2,000
    Tenure 7 years

    Why To Opt RHB Personal Loan

    RHB Personal Financing has unsecured personal loans which has some great features that include

    • No fees charges for processing fees.
    • The personal financing option is a reducing balance loan as the interest rates reduce with every monthly payment made in time.
    • Personal financing options are available through a guarantor.
    • It is a Pinjaman Peribadi option that has fast turn around time when it comes to loan applications
    • The maximum amount for RHB personal financing is RM1,50,000.
    • The minimum income for loan application is RM 24,000 per annum.
    • The repayment tenure can range between 12-84 months (based on the loan sum).
    • The interest rate for RHB personal financing ranges between 13.45% - 8.18%
    • Prepayment fees as chargeable at RM 100.
    • The personal loan is available for Malaysian citizens only.
    • This loan conforms to all the Sharia laws as a RHB Islamic Banking product.

    Schemes and Plans of RHB Personal Financing-i for Private

    There is another personal financing product from the company known as the RHB Personal Financing-i for private which is similar to above mentioned product and

    • The loan conforms with the with the Sharia laws of Islam and is, hence, categorised as an Islamic Banking product.
    • Payment tenure for this loan ranges between 12 to 84 months
    • The minimum and maximum loan amount ranges between RM5000 and RM1,50,000.
    • The interest rate for RHB personal financing ranges between 13.45% - 8.18%
    • The interest rate for RHB personal financing ranges between between 14.16% - 11.66%.
    • The minimum income for loan application is RM 24,000 per annum.
    • Also, Pinjaman Perdbadi is available for up to 3.5 times the customer’s salary for individuals who earn up to RM 30,000.
    • For over RM 30,000 salaried individuals personal financing is available for amounts up to 5.5 their salary.

    How To Apply For RHB Personal Loan

    No deposit is needed to pay for this loan but the individual has to provide certain documents for the loan application along with the application form, which includes

    Salaried Individuals

    • Copy of MyKad (front and back).
    • Last one month’s payment slip, bank statements or six month's EPF statement.

    Self-Employed individuals

    • Copy of MyKad (both sides).
    • Last 6 month’s bank statements.
    • Business Registration Certificate (company must be at least two years old).
    • Updated Form B from the Inland Revenue Board.

    More documents may be documents may be required if the individual’s salary has a variable income element like any overtime or commission.

    RHB Personal Loan FAQs

    What are the charges for RHB Personal loan termination?

    The bank charges RM 100 from the customer for early loan termination.

    What are the late payment charges for the RHB Pinjaman Peribadi option?

    The bank charges 1% of the outstanding amount of the loan amount from the customer.

    Are there any stamp duty and handling charges applicable for RHB personal finance?

    RHB charges 0.5% of the loaned amount as stamp duty and handling charges for the personal financing options.

    What are the eligibility criteria for the RHB personal finance options?

    The eligibility criterias for a RHB Personal Financing product include:

    • He/she should be a Malaysian citizen
    • He/she should be aged between 18 to 60 years of age.
    • He/she should have an annual income of minimum RM 24,000

    Other Products offered by RHB

    Apart from offering personal loan, RHB offers other products and services which includes:

    News About RHB Personal Loan

    • RHB Loan growth to be flattish for next year

      At the launch of RHB Now Mobile Banking App, the Group’s executive Director, U Chen Hock said that the market will be challenging for the loan growth next year. He also mentioned that the growth for the retail side will be driven by mortgages. RHB’s loan growth was revised to between 4-5% this year. All the local banks have lowered their loan growth forecast for the year. For the first 9 months, RHB’s gross loan was recorded at 1.4% annualised growth. The growth came from mortgages and small and medium enterprises. There has been a decline in the corporate loans.

      21st December 2016

    • RHB Bank Approves Personal Loans

      RHB Bank has given a nod for personal loans. Malaysians can now easily apply for loans online and get approvals in 10 minutes.

      The applicants should have a minimum monthly income of RM2,000 in order to avail the loan. When it comes to applying for personal loans in Malaysia, RHB Bank is the best in terms of fastest and seamless transaction process.

      In a statement released by the RHB Banking group, the bank executive said it has collaborated with Malaysia’s leading website for consumer transactions, RinggitPlus.com, in the Drive Easy Sweepstakes Contest. Approved loan applicants can win prizes up to RM600,000.

      29th October 2015

    • Low rights price may impact RHB Capital’s equity generation

      RHB Capital Bhd has decided upon a new rights issue price of RM 4.82 which is lower than the earlier price of RM 6.03. This price is a result of the 20.3% discount which has resulted in MIDF reducing the target price of the stocks from RM 8.5 to RM 6.6 and lowering the stock to neutral status. Once the rights are issued, the earnings per share will drop from 81 sen to 67 sen and the return on equity is expected to come down from 10.5% to 9.8%.

      The group has also been planning a corporate restructuring exercise that is going to be taking place along with the issuance of about 518 million new rights. As a result of this, the dilution in the earnings from shares in the financial year 2015-16 are expected to go down by as much as 32%.

      10th September 2015

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