RHB Islamic Bank Pensioner Personal Financing-i

Overview

RHB Islamic Bank Pensioner Personal Financing-i is an unsecured Islamic personal loan for Malaysian citizens exclusively for Government and military pensioners who would like to finance with a minimum amount of RM5,000 up to RM100,000. On top of that, you will be able to enjoy a fixed interest rate of 5.00% per annum with minimum loan tenure of 3 years up to 10 years. It is a hassle free loan because there is no need of a guarantor or collateral required in order to apply for this loan. To be eligible to apply for this loan, your minimum monthly pension should be at least RM800 per month. You must also be at least 55 years old to apply for the RHB Islamic Bank Pensioner Personal Financing-i.

If your pension is paid by Jabatan Perkhidmatan Awam Malaysia (JPA), you must prepare a clear copy of your NRIC (front and back), 2 copies of Malaysia Government Pensioner Card and latest pension statement in order to apply for this personal loan. If your pension is paid by Jabatan Hal Ehwal Veteran AM (JHEV), you will need to prepare a clear copy of your NRIC (front and back), 2 copies of Army Pensioner Card and Ledger Pensioner OR latest bank statement in order to apply for this personal loan. To be eligible for this loan you must have a good credit record (CTOS/CCRIS) and if you have some overdue payments then you will need to settle off all those payments.

RHB Islamic Pensioner Personal Financing-i FAQ

What is the maximum amount you can borrow?

Borrowable amount of up to five times your fixed monthly salary or RM100,000 for a maximum loan tenure of 10 years.

The catch?

Applicant must be age 55 and above to qualify.

Applicant must be a Government or military pensioner with a minimum gross pension of RM800 per month.

Opening of a linked bank account and Takaful protection is compulsory.

What will it cost you and how will you be charged?

One time set-up fee:

Processing fee of RM50, stamp duty of 0.5% on loan amount, and brokerage fee of RM30 to be deducted upfront before loan disbursement. No other set-up fees need to be paid.

Recurring payments:

Monthly repayment comprising principal amount and interest charge via standing instruction deduction. Interest rate is fixed at 5.00 per annum (0.42% per month) throughout the entire loan tenure.

Penalties:

Late payment charges of 1% on outstanding loan amount. Late payment charges will increase your total outstanding loan amount.

No early settlement penalty imposed.

How long will the application take and what documentations are required?

Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.

Thereafter, RHB will require an average of five business days (not including Saturdays, Sundays, and public holidays) before approval or disbursement.

You are required to furnish the following documents for your loan application:

Jabatan Perkhidmatan Awam Malaysia (JPA) pensioner:

• Copy of NRIC (front and back)
• 2 copies of Malaysia Government Pensioner Card
• Pension statement

Jabatan Hal Ehwal Veteran Am (JHEV) pensioner:

• Copy of NRIC (front and back)
• 2 copies of Army Pensioner Card
• Ledger Pensioner OR bank statement (most current)

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 loans on time for another three months before reapplying.

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