Al Rajhi Personal Financing-i: Up to RM250,000 Shariah-Compliant Financing, Profit Rates from 5.27% p.a.
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You’re juggling three repayments every month, a credit card at 18% p.a., a personal loan, and a hire purchase. The combined outflow is eating into half your salary before you can breathe. Debt consolidation via Islamic personal financing can simplify things, but you need to know which product to trust and whether you’ll actually qualify.
Al Rajhi Personal Financing-i is one of the highest-limit Shariah-compliant personal financing products in Malaysia. This article will cover fees, eligibility, and what to watch out for.
Financing: RM10,000-RM250,000 | Tenure: Up to 8 years | Profit rate: From 5.27% p.a. (income-tiered)
Contract: Tawarruq (commodity Murabahah) | Approved by: BNM Shariah Advisory Council
Fees: 0.5% stamp duty + mandatory Takaful contribution | No processing fee
Eligible: Salaried Malaysian citizens, min. RM5,000/month gross income
What Is Al Rajhi Personal Financing-i?
Al Rajhi Personal Financing-i is an unsecured Islamic personal financing facility from Al Rajhi Banking & Investment Corporation (Malaysia) Berhad, a BNM-licensed Islamic bank. It operates on the Tawarruq (commodity Murabahah) contract: the bank facilitates a real commodity transaction via Bursa Suq Al-Sila’, converting it into permissible cash flow for the borrower, no interest (riba) involved. The total repayable amount is fixed and disclosed upfront.
This structure is sanctioned by BNM’s Shariah Advisory Council (SAC) under Policy Document BNM/RH/PD 028. For a plain-language explainer, see How Islamic Personal Financing Works.
What Are the Key Features and Fees?
| Feature | Details |
|---|---|
| Shariah contract | Tawarruq (commodity Murabahah) via Bursa Suq Al-Sila' |
| Financing amount | RM10,000–RM250,000 (or up to 9× monthly gross salary, whichever is lower) |
| Tenure | Up to 8 years (96 months) |
| Profit rate | From 5.27% p.a. (income-tiered - see below) |
| Minimum income | RM5,000/month gross (RM60,000/year) |
| Eligibility | Malaysian citizens; salaried/permanent employees; min. age 25 |
| Collateral / guarantor | Not required |
| Processing fee | None |
| Stamp duty | 0.5% of approved amount, deducted upfront (e.g. RM100k approved → RM99,500 received) |
| Takaful | Mandatory; covers outstanding balance on death/TPD; varies by age, amount & tenure |
| Early settlement | Allowed; bank computes Ibra' (rebate on unearned profit) |
| Late payment | Ta'widh (compensation) at prevailing overnight IIMM rate on overdue balance |
Source: Al Rajhi Personal Financing-i Product Disclosure Sheet (PDS); iMoney Al Rajhi product page (rates effective 7 March 2025).
Who Qualifies for the 5.27% Profit Rate?
The profit rate is tiered by gross monthly income. Your final rate also depends on CCRIS history, existing Debt Service Ratio (DSR), and the bank’s internal scoring, the rates below are indicative ranges, not guarantees.
| Gross Monthly Income | Indicative Profit Rate Range |
|---|---|
| RM3,000 - below RM15,000 | 5.77% p.a. - 14.83% p.a. |
| RM15,000 - RM29,999 | 5.61% p.a. - 13.83% p.a. |
| RM30,000 and above | 5.27% p.a. - 12.70% p.a. |
The 5.27% floor applies only to applicants earning RM30,000+/month with a strong credit profile. Most applicants earning RM5,000-RM15,000/month should expect rates in the 6%-10% band. Always verify your actual offer letter before accepting.
Is Al Rajhi Personal Financing-i Good for Debt Consolidation?
Debt consolidation is one of this product’s most practical uses. Combining high-rate obligations into a single lower-rate financing can reduce monthly outflow and simplify repayment. Here’s a simplified illustration:
| Existing Obligation | Monthly Repayment |
|---|---|
| Credit card A (18% p.a.) | RM1,200 |
| Credit card B (15% p.a.) | RM800 |
| Personal loan (9% p.a.) | RM1,500 |
| Total outflow | RM3,500 |
Consolidating via Al Rajhi Personal Financing-i at, say, 7% p.a. over 7 years can reduce total outflow and lock in a fixed repayment. But consolidation doesn’t erase debt — avoid reloading credit card balances afterwards. Check your DSR (most banks cap at 60%–70% of net income) before applying. For more context: 4 Times a Personal Loan Makes Perfect Sense.
Who Is Eligible and What Documents Do You Need?
| Criterion | Requirement |
|---|---|
| Nationality | Malaysian citizen (incl. Malaysians working in Singapore but residing in Malaysia) |
| Minimum age | 25 years old |
| Income type | Fixed income / salaried permanent employee only |
| Minimum gross income | RM5,000/month (RM60,000/year) |
| Max financing | Up to 9× monthly salary or RM250,000 (whichever is lower) |
| Credit record | Clean CCRIS/CTOS record strongly preferred; settle overdue accounts first |
| Account | Must open a Current or Savings Account with Al Rajhi Bank |
| Self-employed / retirees | Generally not eligible; retirees may apply if tenure doesn't exceed age limit |
Why Apply Through iMoney.my?
- Run a soft eligibility check before applying, avoids unnecessary CCRIS hard enquiries
- Compare profit rates and conditions across Islamic and conventional products in one place
- No additional charges or deposit required when applying via iMoney
- Pick a plan that fits your income and need
- Reduce risk of being rejected from blind applications
- Get a clearer picture of the application process
Summary: Is Al Rajhi Personal Financing-i Right for You?
| If you are… | Al Rajhi Personal Financing-i is… |
|---|---|
| Earning RM5,000+/month with stable employment | A strong candidate worth applying |
| Looking to consolidate credit card or personal loan debt | Highly suitable - up to RM250,000 allowed for consolidation |
| Wanting a longer tenure to manage cash flow | Good fit - up to 8 years available |
| Committed to Shariah-compliant financing only | Fully suitable - BNM SAC-approved Tawarruq contract |
| Earning below RM5,000/month or self-employed | Likely to be declined - check other options |
| Carrying a poor CCRIS record | High risk of rejection - clear overdue accounts first |
Al Rajhi Personal Financing-i stands out for its high financing ceiling (RM250,000), long tenure (8 years), and genuine Shariah compliance under a BNM-sanctioned Tawarruq framework. Its tiered profit rate structure rewards higher-income applicants. Before applying, honestly assess your DSR, CCRIS record, and whether the total repayment, and not just the monthly instalment, fits your financial plan.
Know your chances before the bank checks your CCRIS. Submit once. Get matched based on your income, DSR, and credit profile. No unnecessary hard enquiries, no obligation, no fees.
FAQs
The minimum gross salary required for Al Rajhi Personal Financing-i is RM3,000 per month (or RM36,000 annually).
Al Rajhi Personal Financing-i is an Islamic financing facility with tiered profit rates that typically start from 5.27% per annum.
Your specific profit rate is determined on a case-by-case basis based on the following criteria:
- Individual Risk Rating
- Income Level
- Financing Size & Tenure
With Al Rajhi Personal Financing-i, you can borrow up to RM250,000 (or up to 8 to 9 times your monthly salary), depending on which amount is lower.
Yes, the Al Rajhi Personal Financing-i is fully Shariah-compliant. It is structured using the Commodity Murabahah contract via a Tawarruq arrangement, with the agency contract Wakalah bil Ujrah.
Yes you can. The Al Rajhi Personal Financing-i is specifically designed to help you consolidate multiple high-interest debts, such as outstanding credit card balances or other personal loans, into a single monthly repayment.
