RHB Personal Financing

The RHB Personal Financing is a fast approval unsecured personal financing. It offers a high financing amount of up to RM150,000, and a low minimum income requirement of only RM1,500 a month.

Is RHB Personal Financing the right one for me?

Best for: iMoney recommends RHB Personal Financing for emergency use, as it offers fast approval of 10 min.

Income requirements: RM1,500 gross income a month.

Pros: Fast approval with a low-income requirement, as well as a high financing amount.

• How do I apply for an RHB Personal Financing?

  All you need to do is click on the orange “Apply” button on the top right of your screen. Then fill in your contact details and we will get in touch to get started with your financing application.

• What is the maximum financing amount for RHB Personal Financing?

  The maximum you can borrow is up to RM150,000, while the minimum amount is RM2,000.

• What is the maximum financing tenure?

  How long can you spread your repayment? The maximum financing tenure for RHB Personal Financing is 7 years, while the minimum is 1 year. The longer your financing tenure is, the lower your monthly instalment will be.

• How does the RHB Personal Financing calculator work?

  The iMoney Calculator is designed to match you with the most suitable financing for your needs. It takes into account your salary (which will determine how much you are able to borrow), the type of financing you want, and the amount you want to apply.

  You can also use the calculator to adjust the amount of time you will need to pay it back to get an idea of how much the monthly payments you can afford.

• What is the RHB Personal Financing profit rate in 2022?

  The RHB Personal Financing is a fixed rate personal financing with fixed instalment payment throughout the financing tenure. The profit rate ranges from 8.18% to 13.45% per annum, or per year throughout the financing tenure.

  The profit rate may vary based on your financing amount and financing tenure:

  Financing Amount	Profit Rate from (p.a.)	Maximum Tenure
  RM2,000 - RM10,000	13.45%	5 Years (60 Months)
  RM11,000 - RM15,000		7 Years (84 Months)
  RM16,000 - RM50,000	11.66%
  RM51,000 - RM99,000	9.91%
  RM100,000 - RM150,000	8.18%

  
  
  

• What are the requirements when applying for an RHB Personal Financing?

  Income: It has a low minimum income of RM1,500 per month.

  Age: To qualify, you must be aged between 21 and 55. This means, your financing should end latest by age 55 of the borrower.

  Other qualifying criteria:

  • Malaysian citizen
  • Employed in the private sector, or self-employed
  • May be required to open a bank account with RHB Bank or RHB Islamic Bank for the financing amount to be credited to your account
  • Insurance or Takaful protection may be required

• What are the required documents?

  Upon completing your application with iMoney, our call centre consultant will contact you to confirm your application. Then, you will need to complete your application at the nearest RHB Bank branch.

  All you need to bring along with you to the bank is your MyKad. With biometric verification, all your income data needed will be auto-filled electronically by the bank. Typically, you will not need to submit additional documents, but to be on the safe side, do bring along the following documents:

  1. If you are employed:
     • Any of the documents below (choose one):
     • Latest 1-month salary slip
     • Latest EPF statement with 18 months’ contributions
     • Latest 3 months’ savings account activity/current account statements
  2. If you are self-employed:
     • Copy of current and valid Business Registration Card (minimum 2 years in business)
     • Latest 6 months’ bank statement
     • Latest B/BE Form with validated payment slip/receipt to LHDN

• How long is the approval process?

  The RHB Personal Financing can be processed as fast as 10 min upon submitting all your information and documents to the bank. iMoney will assist you in checking eligibility and completing your form and document submission.

  Upon approval, the financing amount will be credited into a bank account that you provided to the bank. You may be required to open an RHB Bank or RHB Islamic Bank account.

• How can I check my RHB Personal Financing application status?

  You can contact iMoney for updates on your RHB Personal Financing. We will retrieve the status and get back to you within two (2) working days.

• What are the fees and charges?

  One-time set-up fee: You may be required to pay the stamp duty for the financing, which will be deducted from the amount before it is credited to your account.

  Late payment charges: 1% on the outstanding financing amount

  Early settlement fee: There is a lock-in period of 6 months from the date of the letter of offer. Early settlement fee during the lock-in period is RM100 or 1% of total financing approved, whichever is higher.

  Insurance protection: The bank may require you to take up insurance or Takaful coverage for this financing, which varies accordingly to financing amount, age and payment period.

   

• How much do I have to pay monthly?

  The monthly repayment is fixed throughout the financing tenure, and calculated based on your financing amount, financing tenure and interest rate.

  Use the personal financing calculator above to calculate your monthly repayment.

• Do you have the RHB Personal Financing repayment table 2022?

  Here you can find and download the RHB Personal Financing repayment table.

• How can I pay my RHB Personal Financing online?

  • By direct debit standing instruction from your savings/current accounts
  • Self-payment at any RHB branches or ATM

• How can I check my RHB Personal Financing balance?

  You can check on your RHB financing status by logging into your RHB Now online account. It will be listed alongside any other RHB accounts that you own.

• Can government servants or staff apply for an RHB Personal Financing?

  Yes, the RHB Personal Financing application is open to all Malaysian citizens.

• Can foreigners apply for an RHB Personal Financing?

  No, personal financings in Malaysia mainly cater to locals. If you require a financing, please directly contact your nearest bank branch and make a special request.

• Will pensioners be able to apply for an RHB Personal Financing?

  To apply for an RHB Personal Financing you must be between the ages 18 and 55 years old, and be able to show proof of income.

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

  As part of its approval process, RHB Bank will check your credit record to determine your creditworthiness. If you have been blacklisted, have a bad CCRIS record or have a weak credit score, chances are your application will be rejected.

  iMoney recommends that you settle all your overdue payments before applying and keep a healthy credit record before you apply for personal financing. It is advised that you continue repaying your financing on time for another three months before reapplying.

  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

  Hong Leong Islamic Personal Financing-i

  If you are on the lookout for an Islamic financing facility with a lower interest rate, Hong Leong is offering fixed-rate personal financing from 5% per annum. It has a slightly higher monthly income requirement from RM2,000 per month.

  Maybank Islamic Personal Financing-i

  The Maybank Islamic Personal Financing-i offers a rate starting from 6.5% per annum for higher financing amount, with tenure between 2 and 6 years. However, it has a lower maximum finncing amount of up to RM50,000.