Bank Rakyat Personal Financing-i for Pensioner

A flat rate unsecured Islamic personal loan for Senior Citizens with low income requirement to realize your retirement goals. No guarantor is required!

Bank Rakyat Personal Financing-i for PensionerSenior Citizen Loan
Profit Rate
from 4.63% p.a.
up to RM100k
up to 10 years
Loan Type
Unsecured Islamic Financing
Min. Income

Loan calculator

Profit rates

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

Financing ValueFinancing periodYour incomeProfit Rate
RM5,000 - RM100,00012 to 120 monthsmin. RM9,6004.63% p.a.

Fees & Charges

Profit Rate / APR
As low as 4.63% 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
Late Penalty Fee
 1%  from current outstanding amount


Minimum Annual Income
Minimum Age
  • 45 to 65 years old
Who can apply
  • Malaysians
  • Government Pensioner only

More Information

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

Obviously, Bank Rakyat Personal Financing-i for Pensioner (Pembiayaan Peribadi-i Pesara) is designed for Malaysian government pensioners with low income status. If you're an EPF contributors, this personal financing is not for you. 

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

  1. must be a government pensioner not older than 65 years during the end of financing period; and
  2. must earn a minimum monthly pension of RM800.

How much money can I borrow?

There are 2 ways you can determine you maximum borrowing amount:

  • Maximum amount of RM100,000; or
  • Maximum 15x your monthly gross pension.

Are there fees and charges I need to know?

Pembiayaan Peribadi-i Pesara charges zero processing fee. You only need to pay Government Stamp Duty, which is calculated as 0.5% of the total borrowed amount and a Wakalah Fee for obtaining this Islamic personal loan.

Do I need Takaful coverage?

Although a Takaful coverage is optional, you are advised to sign up for a Takaful policy from Bank Rakyat's panel Takaful providers. Takaful coverage can help cover your outstanding personal financing balance in the event of death and permanent disablement.

What is my monthly instalment?

Your monthly instalment will begin the month after you have received and utilized the money. Your monthly instalment will consist of a principal amount and profit charges for the month, which is fixed and flat for the whole period of borrowing.

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

Do I need a guarantor or security deposit to apply for this personal financing?

Bank Rakyat does not require you to pledge any collaterals (your house, fixed deposit, ASB, other securities) to back this personal financing application. However, you must present a guarantor whenever required by the bank.

Can I settle my Pembiayaan Peribadi-i Pesara 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 this personal financing?

For those under Jabatan Perkhidmatan Awam (JPA):

  • Copy of MyKad
  • Malaysia Government Pensioner Card
  • Pension Statement

For those under Jabatan Hal Ehwal Veteran (JHEV):

  • Copy of MyKad
  • Army Pensioner Card
  • Ledger Pensioner

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.