Bank Rakyat

Bank Rakyat Personal Financing-i Private

An unsecured, flat rate Islamic Personal Loan for private sector workers and first time GLC employee applicants

    • Financing up to RM150k
    • Up to 10 years tenure
    • Unsecured Islamic Financing
    • Takaful insurance required
  • Borrow: RM 
    How Long: years
    My monthly income: RM  

    Monthly repayment: RM-

    Profit rate p.a.: -%

Apply online now for Bank Rakyat Personal Financing-i Private

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Profit rates

How much the bank charges you based on your financing amount & financing period

Financing ValueFinancing PeriodYour IncomeProfit Rate
RM5000 - RM1000012 to 84 monthsmin. RM1200011.34 - 12.64% p.a.
RM5000 - RM15000012 to 120 monthsmin. RM240004.95 - 5.44% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR
from 4.95% p.a. to 12.64% p.a. , depending on financing amount and period
Stamp Duty
0.5% of the whole amount
Late Payment Charge
1% from current outstanding amount
Optional Takaful insurance with this financing


Are you eligible for this personal financing?

Minimum annual income
Minimum age
18 years old
Maximum age
60 years old
Who can Apply
  • Malaysians
  • GLC employee
  • Salaried employee

Frequently Asked Questions about Bank Rakyat Personal Financing-i Private

Things you might want to know

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

This Personal Loan, designed with competitive profit rates, is available only for Malaysians aged between 18 to 60 years who work in selected private sector or government-linked companies, with a minimum monthly income of RM1,000 and above. 

For those whose companies do not meet the criteria as set out by Bank Rakyat may also avail themselves this personal loan. Your interest rate will be calculated based on the latest Base Rate by BNM.

How much money can I borrow?

You will be able to borrow as much as RM150,000 at flat profit rates between 4.95% - 12.64% for a maximum tenor of 10 years. The effective profit rate will be subjected to Bank Rakyat's due diligence on your credit score and other factors such as income and repayment capability.

For those working in non-selected companies, earning RM2,000 and above, you can borrow up to RM150,000 for a maximum of 10 years with profit rates ranging between 6.16% - 6.89%.

Bank Rakyat has allowed for those earning less than RM2,000 a month to borrow up to 5 times your monthly salary; with monthly income between RM2,000 and RM4,000 a month to borrow up to 15 times of that amount; with monthly income between RM4,001 and RM6,000 per month to borrow up to 20 times your monthly salary; and those earning more than RM6,000 per month to borrow up to 25 times that amount.

How much does it cost to apply for this loan?

What you see is what you get! This Personal Financing-i product has no processing fees and there are no hidden charges. With that said, you must pay Government Stamp Duty, which adds up to 0.5% of the total borrowed amount.

On top of that, you will also need to pay Wakalah (Agency) Fee of RM30 inclusive of GST.

What do I need to apply for Personal Financing-i Private

This personal loan is unsecured, so you don't need a guarantor. Here are the documents that you need to provide:

  • Photocopy of Identity Card
  • Latest three (3) months salary slip
  • Latest three (3) months bank statement of salary crediting account
  • EPF statement

And any one of these:

  • Confirmation letter from employer
  • e-B Slip by LHDN
  • EA Form

How will the money be sent to me?

For this personal loan, Bank Rakyat can approve your personal loan almost immediately! Once the loan is approved, the funds will be transferred to the account of your choice.

How do I pay the money back?

You will be given a fixed monthly repayment schedule once your loan is finalised. There are multiple ways that you can repay your debts.

  • Biro Perkhidmatan Angkasa
  • Salary deduction
  • Savings account deduction  from Bank Rakyat
  • Electronic Payment (for non-selected companies)

The easiest method is to sign up an auto deduction from your saving account as you get a better interest rate and avoid late penalty fee as well as bad credit listing in return. You will have to pay one time RM10 for stamp duty for the standing instruction.

Will I be able to pay off my borrowing earlier?

Yes you may, all you have to do is pay in lump sum the remaining amount that you owe to the bank and the bank will rebate the interest they have overcharged on your loan.

Is Bank Rakyat Personal Financing-i Shariah compliant?

Yes, the product is based on Bank Rakyat’s own Shariah standard.

Can I get a loan if I am ‘blacklisted’ on CCRIS?

While CCRIS is not actually a blacklist, your entire credit history is recorded on it. If you have been regularly late in paying your monthly credit card bills or defaulted on a previous loan, it is unlikely that the bank will approve your Personal Financing-i loan.

If you've been having trouble paying off your credit card or loan debts - best to get in touch with AKPK. They have a special programme for Malaysian providing debt management services to help you regain control of your personal finances

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