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How much the bank charges you based on your loan amount & loan period
Burn rubber with a fast and furious sports bike, or cruise along the Karak Ekspressway with a gangsta chopper. Bank Rakyat offers a special financing plan for prospective owners and enthusiast alike who have a healthy credit rating and a minimum monthly income of RM2,000.
Malaysian citizens age 18 and above can apply for this super bike plan. As mentioned, you’ll need a earn an annual income of RM24,000 a year. You’re only eligible for 80% financing of the sales price, which means 20% must be paid upfront.
The profit rates for Bank Rakyat Superbikes Financing-i is based on the engine power. Bikes 500cc will be charged 5% profit rates per annum.
To calculate how much you’ll have to pay to the bank, say you’re approved for RM100,000 financing at 5% p.a:
Bank Rakyat Superbikes Financing-i is an Islamic financing plan that only invests your money in business transactions that are in compliance with Shariah laws and regulations by Bank Negara Malaysia.
It’s important to make your monthly repayments on time each month, or risk facing Ta’widh (late payment charges) of 1% p.a. on the total amount due – worse still, repossession of your superbike!
Make your payments directly each month through convenient online banking with Bank Rakyat, cash payments, post-dated cheques, or salary deductions through Biro Perkhidmatan Angkasa and PGM.
To process your application and approve your Bank Rakyat Superbikes Financing-i, the bank will need you to provide:
We’ll guide you through your application for this financial product