Bank Rakyat Personal Financing-i for Debt Consolidation

Save more by settling all your debts via a single instalment plan with fast approval and a profit rate as low as 2.76% per annum.

Bank Rakyat Personal Financing-i for Debt ConsolidationDebt consolidation plan
Profit Rate
From 2.76% p.a.
up to RM200k
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
RM50,000 - RM200,00012 to 120 monthsmin. RM24,0002.76% p.a.

Fees & Charges

Profit Rate / APR
As low as 2.76% 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
The bank shall provide rebate (ibra') on the total balance deferred profits/profit not accrued.
Late Penalty Fee
 1%  from current outstanding amount


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

More Information

Why debt consolidation loans?

Peace of mind. The monthly pressure of having to pay off financing debts on time is taxing. 

When we top it up with having to manage multiple financing balances due at different times, amounts and parties, it is stressful! 

Bank Rakyat has the solution for you via its Personal Financing-i for Debt Consolidation (Pembiayaan Peribadi-i Penyatuan Hutang). 

You only need to consolidate your financing debts from different parties through a single instalment. This would help you to manage your finances more effectively and all in one place!

Who can apply for Bank Rakyat Personal Financing-i for Debt Consolidation?

Any working Malaysian individuals can apply for Bank Rakyat Personal Financing-i for Debt Consolidation (Pembiayaan Peribadi-i Penyatuan Hutang).

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

Can I consolidate my debts from different accounts?

Yes, definitely. You can settle your financing debts from other financial institutions, cooperation and credit companies. 

Settlement can be made for more than one account.

How much money can I borrow?

You can borrow a minimum of RM50,000 for a maximum of 10 years with a profit rate as low as 2.76% per annum. 

Are there fees and charges I need to know?

You only need to pay Government Stamp Duty, which is calculated as 0.50% of the total borrowed and a Wakalah Fee (inclusive of Brokerage 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.

How much do I save from consolidating my debts?

A profit discount rate between 0.10% - 1.20% is given with a tenure of 10 years.

Customer Sector Tenure Discount Rate
Public 1 - 10 years 0.10% - 1.00%
Private  1 - 10 years 0.40 - 1.20%

Bank Rakyat Personal Financing-i for Debt Consolidation

Bank Rakyat Personal Financing-i for Debt Consolidation 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 applicant:

  • 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 for Debt Consolidation 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 personal loan application if you can show that you are managing your personal finances, rather than accumulating more debt.

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