Bank Rakyat

Bank Rakyat Personal Financing-i SMART Cash

Get instant cash at competitive profit rate to fund for your big-ticket item purchase with Bank Rakyat - no guarantor required!

    • Financing up to RM50k
    • Up to 5 years tenure
    • Unsecured Islamic Financing
    • Takaful insurance required
  • Borrow: RM 
    How Long: years
    My monthly income: RM  

    Monthly repayment: RM-

    Profit rate p.a.: -%

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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 - RM5000012 to 60 monthsmin. RM720009.89% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR
As low as 9.89% p.a., depending on financing amount and period
Processing Fee
Stamp Duty
0.5% of the whole amount
Early Termination Fee
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
  • Salaried employee
  • GLC employee

Frequently Asked Questions about Bank Rakyat Personal Financing-i SMART Cash

Things you might want to know

Who can apply for Bank Rakyat Personal Financing-i SMART Cash?

Personal Financing-i SMART Cash is formulated for those employees with EPF contributions, whether in the private sector or government-linked companies.

To qualify for this fast and smart cash, you must meet the minimum criteria such as follows:

  • must be a Malaysian citizen;
  • must be minimum 18 years old and maximum 60 years old at the end of financing tenure; and
  • minimum monthly EPF contribution is RM660.

How much money can I borrow?

It is established that you must have EPF contributions of at least RM660 every month, Bank Rakyat allows you to borrow 25 times your EPF monthly contribution or up to RM50,000 with this Islamic personal loan.

This personal financing is calculated based on a floating and flat profit rate with flexible repayment periods up to 5 years.

Do I need to standby a collateral or guarantor?

Bank Rakyat may need you to present a guarantor whenever required, nevertheless it is not necessary if you met all of the eligibility requirements. 

Although there is no collateral required, you are subject to pay a 2-month instalment amount as a Security Deposit, which will be used to set off against any outstanding balances when you have defaulted, i.e. not able to pay for your monthly instalment.

Consider it as an 'underlying collateral', this Security Deposit will be deducted from the total approved financing and credited into the customer's Special Account upon disbursement.

Are there fees and charges I should know?

Personal Financing-i SMART Cash charges zero processing fee. 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.

What is my 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.

You need to pay your monthly instalment via Electronic Payment, i.e. fund transfer via online banking to Bank Rakyat.

Can I settle my SMART Cash off 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 SMART Cash?

Truthfully, you only need a valid MyKad to apply for SMART Cash personal financing. But to be safe, here are the documents that you need to provide:

  • Latest 3-months salary slip
  • Latest 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

Am I qualified to apply for Bank Rakyat personal financing if I'm blacklisted?

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

Assuming you have poor credit standing due to irregular payments, the best course of action 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 personal loan application if you can show that you are managing your personal finances, rather than accumulating more debt.

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