• Interest Rate (p.a)


  • New Base Rate


  • Loan Type

    Term Loan

  • Lock in Period

    5 years

Loan calculator
Loan amount


Loan Tenure (years)
Interest Rate (p.a)


Monthly Repayment


Whats so great about Bank Rakyat Home Loan?
  • Salary deduction scheme for government employees
  • Low minimum age


Minimum Age: 18 Years
Loan Tenure: Up to 35 Years
Margin of Finance: 90% + 5% MRTA Financing
Suitable for: Completed homes, under-construction properties, refinance

Product Review by iMoney

Is a Bank Rakyat Home Loan Right for Me?

Bank Rakyat Home Loan has a 5-year lock in period along with a penalty fee of up to 5% on your outstanding loan amount in case you plan to make an early settlement and repay your loan in full within this period. Compared with other loan products from other bank, Bank Rakyat housing loans has the highest lock in periods and penalty fees in the market. There are 2 main Bank Rakyat housing loan products. One of the outstanding product is Bank Rakyat Home Financing-i Manzili Selesa. This Bank Rakyat housing loan is a Sharia compliant home financing whose main attraction point is the convenient repayment method. For instance, you can make payments via Biro Perkhidmatan Angkasa if you are a government employee. Another alternative of repayment method is directly from your savings or current accounts. Besides the variety repayment alternatives, via this Bank Rakyat housing loan, you are protected against a hike in rates as it is based on a capped floating profit rate of 10.6%. You can always pay in excess of your fixed monthly repayments but it will only count as an advanced payment since this Bank Rakyat housing loan is not a flexi-loan. On the other hand, the other Bank Rakyat housing loan namely Manzili Home-I Financing is very similar to its counterpart, Manzili Selesa. The exclusive feature of this Bank Rakyat housing loan is that you can make your loan repayments automatically through the deduction of salary through Biro Perkidmatan Angkasa (which appeals to government employees), employer payroll deduction and savings account deduction. Since this Bank Rakyat housing loan is not a flexi-loan, the excess payment that you have made will only reduce your principal amount instead of interest charges. The margin of financing offered can be up to 90% plus an extra 5% for MRTT and/or financed entry cost. Loan tenure can reach up to 35 years (in accordance to the latest ruling by Bank Negara Malaysia) or age 65 whichever is earlier. When you are signing up for any Bank Rakyat housing loan products, it is highly recommended that you take on MRTT (which will protect you from any unforeseen scenarios. The requirement to apply for both Bank Rakyat housing loans is you do not have a bad track record with any financial institutions.

Bank Rakyat Home Loan Packages

The Sharia compliant home financing and refinancing package Home Financing-i Manzili Selesa offered by Bank Rakyat is designed to cater to the needs of Islamic banking costumers. The main features of this package are highlighted in the table for you.
Product Key Features Is this a flexi package?
Home Financing-i Manzili Selesa
  • Profit rate from as low as BR - 2.4%
  • Margin of financing up to 95% (including MRTA)
  • Loan period up to 35 years

What Documents Will I Need to Prepare?

If you have applied for a Bank Rakyat Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below: * Application Form * NRIC / Identity Card * Copy of Sales and Purchase or Booking Receipt or Letter of Offer from Developer * Copy of Individual Title Deed

Sounds Great! What Do I Do Next? / How Should I Proceed?

Based on your desired property value and loan amount, you can use the Bank Rakyat home loan calculator to determine your monthly housing loan repayments. Once you are ready to apply, click "Apply Now" to complete the application and our mortgage consultants will be in touch with you within 24 hours. If you are not sure whether a Bank Rakyat home loan is your best option, click here to compare other home loans in Malaysia.

Is It Easy to Repay my Bank Rakyat Home Loan?

Online Transfer : Transfer funds from your Bank Rakyat Bank Savings or Checking accounts to make your payments online MEPS : Pay your loans at any of the MEPS ATMs (over 5,000) nationwide Interbank GIRO : Pay your loans through the Interbank GIRO fund transfer at the participating bank’s branch or through online banking Standing Instruction Facility : Automatic deduction from your bank account every month Bank Rakyat ATMs : Transfer funds from your Bank Rakyat Savings or Checking accounts to make your payment at all Bank Rakyat branches Express Payment machine : Make a check or cash deposit at Bank Rakyat branches Payment by Mail : Mail to Bank Rakyat with your check and statement enclosed in an envelope Phone Banking : Issue instructions to have your bank account deducted to pay for your home loan with your T-PIN
If you are looking for other home loans, you may also consider
CIMB Islamic Home Loan : CIMB Islamic offers a mortgage rate starting from Base Rate (BR) 4.00%. It does come with the option of a flexi loan package and there is a maximum of 90% margin of financing. There is a 3 year lock-in period for this mortgage. Public Islamic Bank Home Loan : The home rate from Public Islamic Bank starts from Base Rate (BR) 3.65%. The option of a flexi loan package is available and there is a maximum of 90% margin of financing. The lock-in period for this home loan is 3 years. Standard Chartered Saadiq Home Loan : At Standard Chartered Saadiq, the housing loan rate starts from Base Rate (BR) 3.67%. There is available the option of a flexi loan package and there is a maximum of 90% margin of financing. There is no lock-in period for this housing loan.