RM
year(s)
RM
- You Pay
- RM 89 /mth
- Profit Rate
- Total Profit Payable
- RM 70
- Total Payment
- RM 1,070
Bank Rakyat Personal Financing-i Public Sector
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- Profit Rate
- 2.31% p.a. ~ 5.65% p.a.
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- Max. Financing Amount
- RM 200,000
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- Approval Duration
- Up to 3 business days
Bank Rakyat Loan Calculator
Key Features
Approved financing amount of up to RM200,000
Options of fixed rate or floating rate starting at 4.54% p.a or 2.31% p.a respectively
Takaful coverage is optional
More details
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Features- Approval Duration
- Up to 3 business days
- Min. Financing Amount
- RM 10,000
- Max. Financing Amount
- RM 200,000
Other features
- Min Financing Tenure
- 1 year
- Max Financing Tenure
- Up to 10 years
- Profit Rate
- Profit rate as low as 3.29%- 4.99% per annum depending on rate type, payment type and tenure
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Eligibility & Required Documents- Age Requirement
- 18-60 years old
- Min. Monthly Salary
- RM 1,000
Other eligibility requirements
- Need to open linked bank account?
- Optional
- Guarantor Collateral Requirement
- N/A
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Fees and charges- Processing Fees
- Free
- Stamp Duty
- 0.5% of loan amount
Other fees and charges
- Early Settlement
- N/A
- Late Payment Charges
- 1% on outstanding financing amount
Still unsure about which product best suits you?
Leave your details and our friendly agents will get back to you!
How do you apply for a personal financing online?
Step 1
Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.
Step 2
Select the best product that fits your requirements from the list of recommended personal financing products listed and click on the Apply button.
Step 3
Fill in a form with your details to be submitted for application, and a representative from iMoney or the bank will call you to process the application.
Read more about Islamic Personal Financing
More details about the product
Bank Rakyat Personal Financing-i Public Sector is a personal loan for Malaysian citizens that are in the public sector, GLC companies and GLC subsidiaries. This personal loan offers a financing amount of up to RM 200,000. It also has a relatively low instalment and decent financing with a relatively low gross income requirement.
Best for: Personal use including your kid’s education fund.
Income requirements: Minimum RM 1,000/month.
Pros:
- Maximum financing amount of RM 150,000
- Low income requirement (RM2,000/month)
- Wide age range eligibility (20 – 60 years old)
- Wide variety of instalment methods payable to the Bank
- Fixed or floating profit rate
- No guarantor required
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Bank Rakyat Personal Financing-i Public Sector offers high financing amounts at low profit rates. It also has very low income requirements. These factors make it an excellent choice for public sector employees who are looking for financing.
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You can borrow up to RM 200,000.
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10 years.
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Income: Minimum gross income of RM1,000. Gross salary means salary before monthly deductions such as income tax and Employees Provident Fund (EPF) contribution. Only fixed income earners are eligible.
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- Malaysian citizen
- Age: 18 – 60 years old
- Permanent employee of at least 3 months in service
- Minimum gross income of RM1,000
- Maximum loan of RM 200,000
- Encouraged to have Takaful coverage
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Once you have completed your application with iMoney, you are required to provide the following documents for your application:
- Front & back copy of NRIC
- 3 (most current) salary slips
- EPF statement with at least 6 months contribution (latest not more than 1 year)
- Latest EA Statement, OR
- Latest Tax Returns and Tax receipts, OR
- Employment Letter, OR
- 3 months (most current) bank statements
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Bank Rakyat will approve an application within 7 days, provided that full documentation and information are submitted.
To speed up the process, you can apply through iMoney where our Call Centre Consultants will walk you through the eligibility checker, application form, and advise you on the required document submission.
After we submit your documents and information, Bank Rakyat can approve and disburse to you within 3 days.
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Fixed rate of 4.54% per year to 6.26% per year OR floating rate of 4.91% to 8.25% on your financing amount, tenure, as well as your individual risk rating.
Check your iMoney CreditScore for free to find out how your credit health is.
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Stamp Duty Fee: 0.5% of total financing as contained in the Stamp Duty Act 1949
Wakalah or Agency Fee: RM28.30
Late payment charge: 1% per year on the outstanding payment
For example, the fee is calculated as follow:
Late payment charge = Outstanding monthly instalment X 1% X number of days outstanding* The charges will not be compounded
Note: There are no upfront charges or additional fees when you apply through iMoney. We will also not request any deposit payment from you.
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Yes, you can settle your remaining payments early.
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You have several options to meet your monthly commitment:
- Salary transfer, Biro Perkhidmatan Angkasa, or Salary Deduction (profit rate will range between 4.64% and 4.99%)
- Electronic payment (profit rate will range between 5.75% and 6.31%
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Unfortunately, no. Bank Rakyat will check your credit history as part of their approval process. You are required to settle all overdue payments before applying and keep a healthy credit record before you apply for any personal financing or loan. We also highly recommend that you continue repaying your loans on time for another three months before reapplying.
Check your iMoney CreditScore for free to find out how your credit health is.
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Bank Islam Personal Financing-i
This personal loan comes with a fixed interest rate starting from 4.99% per year and has a maximum tenure of 10 years and comes with a minimum income requirement of RM2,000.
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