RHB Personal Financing-i For Civil Sector

RHB PF-i for Civil Sector is a personal financing facility that adopts the concept of Commodity Murabahah via Tawarruq arrangement. With a high financing amount of up to RM200,000, it is specifically for both federal and state government servant, selected GLCs and self-accounting agencies.

Best for: Debt consolidation or cashflow for personal use.

Income requirements: Minimum RM2,000/month.

Pros:

• Low income requirement (RM2,000 gross monthly income)
• Higher financing amount (RM200,000)
• Repayment through salary reduction
• Flat profit rate (4.5% p.a.)
• No guarantor required

• What is the maximum financing amount?

  RM2,000 to RM200,000

• What is the financing tenure?

  2 – 10 years.

• What are the eligibility requirements?

  Employees of the Malaysian government, including

  • State and federal government servants
  • Selected GLC employees
  • Self-accounting agencies

  You are also required to meet the eligibility criteria below:

  • Citizenship: Malaysian
  • Income: Minimum RM2,000/month gross income
  • Age: Between 18 – 58 years old

• How long is the approval process?

  Your application will be processed within 7 days, subject to complete document submission.

  To speed up the process, you can complete the application through iMoney where our Call Centre Consultants will walk you through the eligibility checker, application form, and advise you on the required document submission.

• What are the fees and charges?

  Below are the details of Fees and Charges for this loan:

  • Stamp Duty: Nominal amount of RM10.00 (per document)
  • Brokerage Fee: RM30.00 per application
  • Takaful Contribution: Takaful contribution is optional. It varies according to the financing amount, customer’s age and tenure.

• What is the profit rate?

  As low as 4.5% p.a., depending on your financing amount and period.

• What are the required documents?

  Once you have completed your application with iMoney, you are required to provide the following documents for your application:

  • 2 copies of NRIC (front and back)
  • 1-month latest salary slips (1 original, 2 copies)
  • Confirmation letter by employer (1 original, 1 copy)
  • Redemption Statement (1 original, 1 copy)
  • RHB / RHB Islamic Bank passbook / bank statement (2 copies)
  • Angkasa Form (Blue Form) or Letter of authorisation to deduct salary
  • Application Form

• Do I need a Takaful coverage?

  Yes. Takaful coverage is compulsory. In circumstances of death and total permanent disability, the Takaful will pay off all outstanding amounts of your financing with the Bank. This will alleviate the burden of payment on your survivors or next of kin.

• How much do I have to pay monthly?

  As with any personal financing, you will have to make monthly repayment which comprises of principal amount and an interest rate.

  Use our personal loan calculator above to estimate your monthly repayment.

• How do I make my repayment?

  Authorised salary deduction via Biro Angkasa.

• Can I choose to settle my Islamic personal loan early?

  Yes you may. There will be no fee imposed if you settle the financing early.

• Is there a rebate for early settlement?

  The Bank may grant a rebate to you according to any of the following situations:

  1. Early settlement or early redemption made by you
  2. Settlement due to financing restructuring made by you
  3. Settlement upon the event of default made by you
  4. Settlement in the event of termination or cancellation made by you

• Can I apply if I have a bad CCRIS/CTOS/credit score?

  Unfortunately, RHB Bank will consider your credit score in the approval process. The repayment profit rate you get will also depend on your credit score. We recommend that you settle outstanding payments and wait for 3 months before you apply.

  Check your iMoney CreditScore for free to find out how your credit health is.

• If you are looking for other personal loans, you may also consider

  CBP Personal Financing-i Lestari

  Another personal financing facility for civil servants is CBP Personal Financing-i Lestari which provides a higher financing amount of RM200,000. Although the monthly income requirement is slightly higher at RM3,000, it comes with a lower profit rate of 2.75% - 2.85% p.a.

  AEON i-Cash Personal Financing

  If you wish to have a slightly faster approval, you may consider AEON i-Cash Personal Financing which can approve your application within 3 days. With a similarly low income requirement of RM1,500, this personal financing package comes with a shorter repayment tenure of 7 years.