Bank Rakyat Personal Financing-i for Pensioner

A floating rate Islamic personal loan for senior citizens with a low-income requirement to realise their retirement goals. No guarantor is required!

Bank Rakyat Personal Financing-i for PensionerFor Government Pensioner
Profit Rate
From 6.05% p.a.
up to RM100k
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 - RM100,00012 to 120 monthsmin. RM9,6006.05% p.a. - 6.4% p.a.

Fees & Charges

Profit Rate / APR
As low as 6.05% 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


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?

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 contributor, 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 the financing period; and
  2. Must earn a minimum monthly pension of RM800.

How much money can I borrow?

There are two ways you can determine your maximum borrowing amount:

  • The 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 fees. 

You only need to pay Government Stamp Duty, which is calculated as 0.50% of the total borrowed amount 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 monthly instalment?

Your Bank Rakyat Personal Financing-i for Pensioner 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.

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

Bank Rakyat does not require you to pledge any collaterals (your house, fixed deposit, ASB, or other securities) to back this Islamic personal loan 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 Bank Rakyat Personal Financing-i?

For those under Jabatan Perkhidmatan Awam (JPA):

  • Copy of IC (front and back)
  • Malaysia Government Pensioner Card
  • Pension Statement

For those under Jabatan Hal Ehwal Veteran (JHEV):

  • Copy of IC (front and back)
  • Army Pensioner Card
  • Ledger Pensioner
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