Banik Rakyat Personal Financing-I Online Promo

Today, you don’t have to go to a bank branch to apply for a financial loan anymore. Everything is at your fingertips because now personal loans can be applied by online. As long as you have a smartphone or computer with internet connections, you can apply for online loans anywhere.

 

What is interesting about online personal loans is that it usually does not require a surety or collateral any item pricing. Therefore, the probability that your application will be approved is higher. This is also because usually the amount of personal loans is not too high compared to other types of loans.

 

In order to meet customer needs, Bank Rakyat has introduced private online financing facilities for both government and private employees. This online facility makes it easy for applicants to borrow without having to come to any bank branch. Customers can know the loan eligibility within a short period of time. Besides saves more time, it can be done at anytime and anywhere. There’s no guarantor needed and payment duration up to 10 years only. It’s also offers interesting profit rate for applicant. Bank Rakyat offer financing up to RM 200,000.00 and applicant may choose whether to opt for takaful protection or not.

 

With a highly competitive profit rate on the market, Personal Financing-I Online is specially designed to meet your financial needs. Bank Rakyat’s Personal Financing-I for:

 

  • Close the credit card balance
  • Renovate / create a home
  • Parental medical expenses
  • House / car loan down payment
  • Wedding expenses and others

 

Features

1) The amount of financing up to RM150,000

2) For new applications with income of RM2,000 – RM3,000, financing period up to 5 years

3) For new applications with income of RM3,001 and above, the tenure of 10 years

4) For recurring applications with income of RM 2,000 and above, financing period up to 10

   years

5) No warranty required

6) Takaful coverage on customer’s choice

 

Eligibility

Malaysian

Minimum age 18 years and maximum 60 years upon expiry of the funding period

Minimum gross salaries include fixed allowances are as follows:

Permanent stay of RM2,000 and above

Contracted for RM8,000 and above

 

Financing Eligibility

For payment through :

1) Biro Perkhidmatan Angkasa (BPA)

2) Employee Salary deduction (PGM)

3) Salary Transfer To Bank Rakyat

 

  • Applicants with income RM 2,000 – RM 4,000 eligible for a 15 times monthly gross salary
  • Applicants with income RM 4,001 – RM 6,000 eligible for a 20 times monthly gross salary
  • Applicants with income exceeding RM 6,000 eligible for a 25 times monthly gross salary

For Electronic Payments :

  • Applicants with income RM 1,000 – RM 5,000 eligible for a 5 times monthly gross salary
  • Applicants with income RM 5,001 – RM 10,000 eligible for a 8 times monthly gross salary
  • Applicants with income exceeding RM 10,000 eligible for a 10 times monthly gross salary

 

Rate of Financing

Floating Rate

For payment through :

1) Biro Perkhidmatan Angkasa (BPA)

2) Employee Salary deduction (PGM)

3) Salary Transfer To Bank Rakyat

 

  • Up to 3 Years, profit rate is KA + 5.37% and effective / flat rate is 9.47% / 5.09%
  • Exceeding 3 – 10 years, profit rate is KA + 5.52% and effective / flat rate is 9.62% / 5.61%

 

Electronic Payments

  • Up to 3 Years, profit rate is KA + 7.37% and effective / flat rate is 11.47% / 6.22%
  • Exceeding 3 – 10 years, profit rate is KA + 7.52% and effective / flat is 11.62% / 6.95%

 

* Note:

1) The base rate (KA) current is 4.10%

2) Additional profit rate of 1.5% on current profit rate for non-takaful financing

3) Coin Rate = effective + 4.00%

 

You need to submit the following documents for your loan application:

1) Copy of MyKad (front and back)

2) Salary slip for 3 months (most recent)

3) EPF Statement

4) Bank statements showing pay credits

5) And at least one of the following:

  • Employer confirmation letter
  • EA Form
  • Confirmation Receipt Slip by LHDN

 

Fee & Charges

1) Fee Wakalah or Agency – Amounting to RM28.30 including Broker Fee

2) Stamp Duty – 0.5% of the total amount of financing as contained in the Stamp Duty Act

   1949

3) Compensation Charge (Ta`widh) for late payment :

  • During the period of financing: 1% per annum on the amount of monthly payment in arrears
  • Upon expiration of the financing period: Based on the prevailing rate of Islamic Bank  

              Interbank Market on outstanding balance

 

For more information, please visit the nearest branch or call the Call Center online 1-300-80-5454