Bank Rakyat

Bank Rakyat Personal Financing-i for Pensioner

A flat rate secured Islamic personal loan for Senior Citizens to realize the retirement of your dream. Offers competitive profit rate and affordable monthly instalment.

    • Financing up to RM100k
    • 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.: -%

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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 - RM10000012 to 120 monthsmin. RM96004.63 - 5.6% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate / APR
from 4.63% p.a. to 5.6% p.a. , depending on financing amount and period
Processing Fee
Stamp Duty
0.5% of the whole amount
Late Payment Charge
1% from current outstanding amount
You must take takaful insurance with this financing.


Are you eligible for this personal financing?

Minimum annual income
Minimum age
45 years old
Maximum age
65 years old
Who can Apply
  • Malaysians
  • Government employees only
  • Pensioner

Frequently Asked Questions about Bank Rakyat Personal Financing-i for Pensioner

Things you might want to know

Who is eligible for Bank Rakyat’s loan for senior citizens?

Only Senior Citizens claiming a pension may apply for this loan product.

How much money can I borrow?

There are 4 ways you can determine you maximum borrowing amount:

  • Maximum amount of RM100,000
  • Maximum 15x your monthly gross pension
  • Maximum instalment up to 30% of your gross monthly pension, excluding home financing
  • Maximum installment up to 50% of monthly gross pension, with home financing

How much does an Bank Rakyat’s Personal Financing-i Pensioner cost?

This Personal Financing-i product has no processing fees and there are no hidden charges. You must pay Government Stamp Duty, which amounts to 0.50% of the total borrowed and is added to the borrowed amount and a Wakalah Fee of RM30 (inclusive of GST).

You will also be required to signup for a Takaful insurance package from Bank Rakyat to cover the period of your loan.

What do I need to apply for Personal Financing-i Pensioner from Bank Rakyat?

As this is an unsecured personal loan you will not need to provide a guarantor or down payment with your application. An automatic pension payment of RM800 or more must be made into your Bank Rakyat Savings Account every month.

How do I get my hands on the money?

Bank Rakyat may take a few business days to process an application. Once the loan is approved the borrowed money will be transferred to the account of your choice.

How do I pay the money back?

A loan repayments schedule will be fixed when you make your application. Payments need to be made every month until the total amount of the loan is repaid. Your pensioned will be deducted automatically by Bank Rakyat.

Can I pay my Bank Rakyat personal loan off early?

The Personal Finance-i package may be ended at any time by paying the total amount remaining.

Is the Bank Rakyat Personal Financing-i Pensioner Shariah compliant?

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

What documents do I need to prepare?

For those under Jabatan Perkhidmatan Awam:

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

For those under Jabatan Hal Ehwal Veteran:

  • Copy of MyKad
  • Army Pensioner Card
  • Ledger Pensioner

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