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.
|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.)
|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|
|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|
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.
Following are the features and benefits of RHB Personal loans:
|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|
Commission earning applicants:
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.
You can make your personal financing-i repayments through the following methods:
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.
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.
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.))
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.