- You Pay
- RM 89 /mth
- Profit Rate
- Total Profit Payable
- RM 70
- Total Repayment
- RM 1,070
Approved loan amount of up to RM100,000
Fixed interest rate of 0.43% per month
Applicant covered by Takaful protection
Use our personal financing calculator to find the best personal financing based on your requirements and eligibility.
Select the best product that fits your requirements from the list of recommended personal financing products listed and click on the Apply button.
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.
The RHB Islamic Bank Pensioner Personal Financing-i is an unsecured Islamic personal financing specifically for retired Malaysian government servants. It has a low-profit rate at 5.25% per annum, or per year, and a high financing tenure of up to 10 years.
Best for: Pensioners who are looking to start a business in retirement
Eligibility: Malaysian citizen from 40 years of age
Pros: No guarantor or collateral required, and no exit fee or early settlement charges imposed if you settle the financing early.
The RHB Islamic Bank Pensioner Personal Financing-i is based on a fixed profit rate (flat) of 5.25% per annum (or per year). The effective profit rate varies according to the financing tenure.
The financing amount you can borrow ranges between RM5,000 and RM100,000.
This financing offers one of the highest financing tenures. The maximum financing tenure is 10 years. This means you can really reduce your monthly repayment by spreading out your financing over a longer financing period, but this also means you will end up paying more in total.
Age: You must be at least 40 years old to qualify for the financing, and be a pensioner of the Malaysian government sector. Your age must not exceed 70 at the end of the financing tenure.
Other qualifying criteria: You must be a pensioner of the Malaysian government sector. You will also be required to open and maintain a deposit account with RHB Bank or RHB Islamic Bank, where the financing amount will be credited into the account upon approval.
The bank can take up to 5 business days to process and approve your financing upon receiving all your information and documents. When you apply through iMoney, we will run an eligibility checker through our call centre consultant to advise you on your chances of approval.
Late payment charges: 1% on the outstanding financing amount. Late payment charges will increase your total outstanding financing amount.
Other fees: RHB Islamic Bank Pensioner Personal Financing-i charges an RM30 brokerage fee and RM10 for stamp duty. You will also be required to pay for the Takaful contribution, which is mandatory. The amount for the contribution varies according to the financing amount and your age and tenure.
Your monthly repayment is fixed throughout the financing tenure, and it is made up of principal and profit margin. The lower your profit rate and the longer your financing tenure, the lower your monthly repayment will be.
Use the personal financing calculator above to calculate your monthly repayment.
The approved financing amount will be credited into your RHB Bank or RHB Islamic Bank account. If you do not have an account, it will be compulsory for you to open an account with the bank.
The stamp duty, brokerage fee and Takaful contribution will be deducted from the total financing amount before it is credited to your account.
The monthly payment will be via deduction from pension proceeds credited to your account.
Once you have completed your application with iMoney, you are required to provide the following documents for your application:
By applying for the financing, you will have to allow RHB Islamic Bank to check your credit health. The bank will only approve your application if your credit history is satisfactory. We would advise that you settle all your overdue payments and maintain a good payment history for at least 3 months before applying.
Check your iMoney CreditScore for free to find out how your credit health is.
If you are not a government sector pensioner, but is a Citibank existing customer, consider the Citi Personal Loan, which offers an attractive interest rate of 5.88% per annum. However, it comes with a slightly higher minimum income requirement of RM4,000.
Not yet a pensioner, consider CBP Personal Financing-i Lestari is a financing facility specifically for government servants. It offers a lower profit rate starting from 2.75% per annum with a high maximum financing amount and tenure.
Bank Rakyat Personal Financing-i Public Sector is also a personal financing facility exclusively for government servants. However, it has a much lower minimum income requirement of RM1,000.