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Al Rajhi Bank Personal Financing-i
Get you personal financing approved up to RM150,000 as low as 6.99%
Islamic Debt Consolidation- Interest Rate (p.a.)
6.99% - 8.25%
- Loan Tenure
2 - 8 years
- Approval Duration
Up to 2 business days
- Min. monthly income
RM4,500
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What's so great about Al Rajhi Bank Personal Financing-i?
- Approved financing amount of up to RM150,000.
- Competitive profit rate of 0.58% per month.
- Applicant covered by Takaful protection.
Product Features
| Min. financing amount | RM10,000 |
| Max.financing amount | Up to 8x monthly salary or up to RM150,000 whichever is lower |
| Min. loan tenure | 2 |
| Max. loan tenure | Up to 8 years based on monthly income |
| Islamic/Conventional | Islamic |
| Interest rate | Fixed rate as low as 6.99% p.a |
| Approval duration | Up to 2 business days |
| Debt consolidation | Available through Balance Transfer Program |
Fees & Charges
| One time set up | |
|---|---|
| Processing fee | N/A |
| Stamp duty | 0.5% of financing amount |
| Disbursement & misc. fee | N/A |
| Penalties | |
|---|---|
| Early settlement | N/A |
| Late payment charges | As per internal Shariah Ruling |
Eligibility
| Age requirement | Age 25 - 60 |
| Employment eligibility | Salaried employees of private sector |
| Min. salary requirement | RM4,500 gross per month |
| Guarantor / Collateral requirement | N/A |
Other Requirements
| Need to open linked banked account? | Yes |
| Need to buy Takaful product? | Strongly encouraged |
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Al Rajhi Bank Personal Financing-i FAQ
What is the maximum allowable financing amounts?
Financing amount of up to eight times your monthly gross salary or up to RM150,000 for a maximum tenure of 8 years
The catch?
Applicant must be at least 25 years. Max age depending on age and financing tenure
An employee of a private sector with a minimum gross salary of RM4,500 per month*
Takaful protection is strongly encouraged
*Subject to RM60,000 per annum
What will it cost you and how will you be charged?
One time set-up fee:How long is the application approval process and what are the documents required?
Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.
Thereafter, Al-Rajhi Bank will require an average of two business days (not including Saturdays, Sundays, and public holidays) before approval or disbursement.
You are required to furnish the following documents for your financing application:
Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?
No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your financing on time for another three months before reapplying, but subject to the banks own credit assessment.