Bank Rakyat Personal Financing-i Private

Get up to RM400,000 in personal financing for a maximum of 10 years at floating rates with Bank Rakyat — designed to fulfil your current financial needs.

Bank Rakyat Personal Financing-i PrivateCompetitive rates
Profit Rate
From 7.66% p.a.
up to RM400k
up to 10 years
Loan Type
Unsecured Islamic Financing
Min. Income

Loan calculator

Profit rates

Based on your loan amount & loan period, the profit rates are as low as the following

Financing ValueFinancing periodYour IncomeProfit Rate
RM5,000 - RM400,00012 to 120 monthsmin. RM24,0007.66% p.a. - 10.22% p.a.

Fees & Charges

Profit Rate / APR
As low as 7.66% p.a.,depending on financing amount and period
Processing Fee
RM28.30, for Wakalah Fee (inclusive of Brokerage Fee)
Stamp Duty
 0.5%  of the whole amount
Early Termination Fee
Rebate (Ibra’) will be given on the deferred profit.
Late Penalty Fee
 1%  from current outstanding amount
Mode of Payment
You must pay your financing installment by salary deduction


Minimum Annual Income
Minimum Age
  • 18 to 60 years old
Who can apply
  • Malaysians
  • Salaried employee
  • Private sector employee

More Information

Who can apply for Bank Rakyat Personal Financing-i Private?

Any Malaysian individuals working in the private sector can apply for Bank Rakyat Personal Financing-i Private (Pembiayaan Peribadi-i Swasta), without having to standby a guarantor or collateral.

To qualify, you must meet the minimum criteria such as follows:

  • Must be 18 years old and not more than 60 years at the time of application; and
  • Must earn a minimum of RM2,000 per month for Permanent Employee, or RM8,000 and above for Contract Employee.

How much money can I borrow?

The amount you can borrow is between RM5,000 to RM400,000 for up to ten years. 

For new applicants, the tenure of financing varies depending on your income range like the following:

Salary (monthly) Financing Tenure
RM2,000 - RM3,000 5 years
RM3,001 and above 10 years

Are there fees and charges I need to know?

Bank Rakyat Personal Financing-i Private charges zero processing fees. 

You only need to pay Government Stamp Duty, which is calculated as 0.5% of the total borrowed and a Wakalah Fee for obtaining this Islamic personal loan.

Do I need Takaful coverage?

Although Takaful coverage is optional, you are advised to sign up for a Takaful policy from Bank Rakyat's panel of Takaful providers. 

Takaful coverage can help cover your outstanding personal financing balance in the event of death and permanent disablement.

What is my Bank Rakyat Personal Financing-i Private monthly instalment?

Your monthly instalment will begin the month after you have received and utilized the money. 

You will be given a personal financing payment schedule together with your loan agreement document upon approval.

How do I pay for my monthly instalment?

There are several options you can choose to repay your Bank Rakyat Pembiayaan Peribadi-i Swasta personal financing:

  • Biro Perkhidmatan Angkasa
  • Salary Deduction (PGM)
  • Salary Transfer to Bank Rakyat
  • Electronic Payment

Can I settle my Bank Rakyat personal loan early?

Yes, you can make an early settlement of your Bank Rakyat personal financing at zero cost. 

In fact, you will be granted an ibra' (rebate), i.e. deferred profit which has not been accounted as profit earned.

What documents are required to apply for Bank Rakyat personal loan?

As this is unsecured personal financing, you don't need to provide a guarantor or collateral to back up your application. 

Bank Rakyat will ask for personal and income documents such as:

First-time applicants:

  • Copy of IC (front and back)
  • Latest 3-months salary slip
  • Latest 3-months bank statement of the salary crediting account
  • EPF Statement

And any one of these:

  • Confirmation Letter from your Employer
  • EA form
  • e-B Slip by LHDN

Returning customers:

  • Copy of IC (front and back)
  • Latest 3-months salary slip
  • EPF Statement

Am I qualified to apply for Bank Rakyat Personal Financing-i Private if I'm blacklisted?

Depending on your credit history with other financial institutions because all this information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS / CTOS (a system that collects credit information on borrowers, not blacklisting them).

Assuming you have poor credit standing due to irregular payments, the best course would be to break the habit and start making your payments on time to avoid future hurdles.

Bank Rakyat is more likely to approve your Bank Rakyat Personal Financing-i Private application if you can show that you are managing your personal finances, rather than accumulating more debt.

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