Bank Rakyat Personal Financing-i Public Sector

  • Profit Rate
    2.31% p.a. ~ 5.65% p.a.
  • Max. Financing Amount
    RM 200,000
  • Approval Duration
    Up to 3 business days

Calculate your financing repayment instantly

RM
year(s)
RM
You Pay
RM 89 /mth
Profit Rate
Total Profit Payable
RM 70
Total Repayment
RM 1,070

Key Features

Approved financing amount of up to RM200,000

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

Options of fixed rate or floating rate starting at 4.54% p.a or 2.31% p.a respectively

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

  • icon Features 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

  • icon Eligibility/Documents Eligibility/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

  • icon Fees and charges 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

If you're not sure which loan is right for you, we can help!

How do you apply for a personal financing online?

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Step 1

Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.

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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.

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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.

Review by iMoney

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

  • You can borrow up to RM 200,000.

  • 10 years.

  • 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.

    • 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

  • 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.

  • 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.

  • 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.

  • 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

  • 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.

  • 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.