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Need a loan to solve any troubles that you may have? Any school fees that need to be paid? Medical bills that you can’t afford to pay at this time? Or really wanting to get that car that you can’t get at this time? Then this RHB personal loan is curated just for you!
RHB Bank is a leading financial services provider in Malaysia. It offers a wide range of products and services, including personal loans. RHB personal loans are a convenient and flexible way to finance your needs, whether you’re a civil servant, pensioner, or private sector employee.
RHB personal loans offer a variety of benefits, including
- Competitive interest rates
Comparing RHB personal loans to other Malaysian banks, they provide affordable interest rates. As a result, you’ll pay less interest overall, which might result in long-term cost savings for you. - Flexible repayment terms
You may select a repayment schedule that works with your budget, thanks to the various payback options offered by RHB personal loans—your loan repayment options range from one to seven years. - Easy application process
The application process for an RHB personal loan is straightforward. You can apply online or at any RHB branch.. - Convenient online and mobile banking options
Thanks to the practical online and mobile banking alternatives RHB provides, you can manage your loan account. You may read your statement online or using a mobile app, check your balance, and make payments.
RHB Bank offers three main types of personal loans:
1. Personal Loan for Civil Servants
This loan is intended for government employees who want a simple, adaptable approach to cover expenses. Competitive interest rates and flexible payback terms are features of the loan.
2. Personal Loan for Pensioners
This loan is intended for retirees seeking a simple, adaptable approach to cover expenses. Competitive interest rates and flexible payback terms are features of the loan.
3. Personal Loan for Private Sector Employees
Private sector employees searching for a simple and adaptable approach to cover their expenses are the target audience for this loan. Competitive interest rates and flexible payback terms are features of the loan
This easy RHB loan is a great option if you’re looking for a convenient and flexible way to finance your needs. Apply online today and get approved in minutes!
We will now look in depth at each loan’s profit rates, benefits & features, interest rates, eligibility, documents required, fees, and some frequently asked questions to clear off any questions or doubts you have regarding RHB personal loans.
Personal Finance-i for Civil Servant.
The Personal Finance-i for Civil Servants is specially for federal government employees, State government employees, and selected GLC employees. Only those who are under this category can apply for this specific loan. Applicants must be a minimum age of 18 to a maximum of 58 at the end of the financing term. The minimum payment period is 2 years, and the maximum would be 10 years.
This means if a person were to apply for the Personal Finance-i for Civil Servant, with a loan tenure of 10 years, then the must last age to apply for this loan would be 48 years old.
Monthly loan payments can be made through salary deduction.
Profit Rates:
The profit rates for RHB Personal Finance-i for Civil Servant are 5.65% p.a. (equivalent to a flat rate of 2.98% p.a.) and 7.05% p.a. (equivalent to a flat rate of 3.75% p.a.).
Benefits and Features
RHB Personal Finance-i offers numerous advantages and features for Civil Servants. One of these is flexible finance, which enables you to borrow up to RM300,000 with a maximum 10-year payback duration. The fact that no guarantor is needed for this loan is a noteworthy advantage. You can withdraw up to 98% of the authorised amount because of the high payout ratio. You can debit your loan payments from your monthly wage using a salary deduction method for increased convenience. Furthermore, applying for this loan is simple and convenient, thanks to the online application process.
Interest Rate
There are two ways to choose the interest rates for RHB Personal Finance-i for Civil Servants. First, a variable profit rate is connected to the Bank’s base rate. Second, a flat rate is comparable to the variable profit rate and fixed for the loan term.
Eligibility
Certain eligibility criteria must be met to qualify for RHB Personal Finance-i for Civil Servant. These include being a Malaysian citizen, being employed as a civil servant or a pensioner, having a minimum monthly salary of RM2,000, and maintaining a good credit history. Those with a proper credit history will find their loan easier to approve.
Documents required
You must have the required paperwork before applying for RHB Personal Finance-i for Civil Servant. These are the required documents:
| NO | Documents Required |
| 1 | Copy of MyKad (front and back) |
| 2 | Salary Slip (Up to 3 months before the application) |
| 3 | Employee Confirmation Letter (with Employer’s Letterhead) |
| 4 | Copy of RHB Bank Berhad / RHBIB / any other banks Account Passbook |
| 5 | Redemption Statement of other banks/ financial institutions (if any) |
| 6 | Retirement Option Letter (for applicant aged 48 years old & above if tenure exceeds mandatory retirement age) |
| 7 | Transfer Letter (for applicant who will be transferred in less than 6 months from the point of application) |
| 8 | T228 (for Sarawak only) |
Fees and charges
Knowing the appropriate charges while considering RHB Personal Finance-i for Civil Servants is important.
- Stamp Duty – Nominal amount of RM10.00 (per document) As per the Stamp Duty Act 1949 (Revised 1989) (subject to change that imposed by Government
- Brokerage Fee – RM30.00 per application
- Collection Fee – 2.0% of monthly payment
- Takaful Contribution – Varies accordingly to financing amount, Customer’s age and tenure.
Personal Finance-i for Pensioners.
The Personal Finance-i for Pensioners is suitable for government pensioners those who have worked and retired from the government sector workforce. Army pensioners can also apply for this loan. The applicant must be a minimum of 40 years old. The minimum payment period is 3 years, and the maximum would be 10 years (until 70 years old, whichever is earlier).
Monthly loan payments can be made through salary deduction.
Profit Rates:
Knowing the profit rates linked with this financing option is important if considering RHB PF-i for Pensioners. The promised profit rate might be as low as 7.05% annually, offering borrowers an alluring option. It’s also important to remember that this financing option’s highest profit rate is capped at 8.55% annually. You may manage your financial demands as a retiree by understanding these profit rates and making educated selections..
Benefits & features
You’ll discover various benefits and features designed to meet your needs. These include flexible financing, allowing you to borrow up to RM150,000 with a repayment period of up to 10 years. What’s more, this loan option eliminates the need for a guarantor. You can access the required funds with a high payout ratio of up to 98% of the approved amount. The auto debit facility provides added convenience, enabling you to have your loan payments deducted directly from your pension each month. Lastly, the online application process offers a quick and convenient way to apply for this loan, further simplifying the borrowing experience for pensioners.
Interest rates
When considering RHB PF-i for Pensioners, it is important to understand the interest rates associated with this financing option. The interest rates can be categorized into two options: a variable profit rate, which fluctuates based on the Bank’s base rate, and a flat rate, which remains fixed throughout the entire loan tenure and is equivalent to the variable profit rate.
Eligibility
Certain requirements must be satisfied to qualify for this RHB personal loan. You must be a Malaysian citizen first. Additionally, you must receive a minimum monthly pension of RM1,500 from the Malaysian government as a pensioner. Last, you must have a strong credit history to qualify for this financing option. Your chances of getting the RHB PF-i for Pensioners will rise if you match these qualifying requirements.
Documents required
Acquiring the required paperwork to support your RHB PF-i for Pensioners application is crucial.
| NO | Documents Required | Original | Duplicate |
| 1 | Copy of MyKad (front and back) | – | 2 |
| 2 | Copy of “Kad Pesara Kerajaan Malaysia / Kad Pesara Tentera” | – | 2 |
| 3 | Penyata Pencen (JPA) / Lejar Pesara (JHEV) | – | 1 |
| 4 | Copy of RHBIB Savings Account Passbook/ Statement (compulsory for new customer) | – | 2 |
| 5 | Redemption Statement of other banks/ FIs (if any) | 1 | – |
| 6 | Surat Permohonan Pertukaran bank untuk Pembayar Pencen | 1 | 1 |
| 7 | Borang Pencen (JPA/KWAP/JHEV) | 1 | 1 |
Fees and charges
The fees related to RHB PF-i for Pensioners must also be understood.
- Stamp Duty – Nominal amount of RM10.00 (per document).
- Brokerage Fees – RM30.00 per application
- Takaful Contribution – Varies accordingly to financing amount, Customer’s age and tenure
Personal Finance-i for Private Sector.
The RHB Personal Loan is designed for private sector employees seeking financial assistance. Applicants must be at least 21 years old to qualify for this loan. Additionally, individuals must have a minimum monthly income of RM3,000 to qualify and apply for this personal loan. The minimum payment period is 2 years, and the maximum would be 7 years (10 years for direct salary deduction)
Profit rates
Customers of RHB PF-i for the Private Sector can take advantage of its competitive profit rates. The highest profit rate for this financing option is set at 15.75% each year, with a minimum profit rate of 13.25%.
Benefits & features:
This financing solution offers several advantages and features for those working in the private sector. With the potential to borrow up to RM150,000 and a maximum 7-year payback duration, you may benefit from flexible financing. Furthermore, this loan has a high payout percentage of up to 98% of the authorised amount and doesn’t require a guarantor. An auto-debit feature is offered to make loan repayment easier by allowing your monthly loan payments to be automatically taken from your paycheck. Additionally, the ease of applying online makes the procedure quick and trouble-free.
Interest rates:
RHB PF-i for Private Sector provides two alternatives for interest rates. Based on the Bank’s base rate, the profit rate is variable. Contrarily, the flat rate, which stays constant throughout the loan, equals the variable profit rate.
Eligibility
Some requirements must be satisfied to qualify for RHB PF-i for the private sector. Candidates must be Malaysian nationals working in the private sector and earn a minimum of RM3,000 monthly. Additionally, the qualification must have a clean credit history.
Documents required
You must provide particular documentation to apply for this financing option.
| No | Documents Required |
| 1 | Copy of MyKad (front and back) |
| 2 | Salary Slip (latest 1 month before the application) |
| 3 | Redemption Statement of other banks/ financial institutions (if any) |
| 4 | Purchase invoice, electricity bill & quit rent/assessment notice (only applicable for Solar Panel Financing Package) |
Fees and Chargers
The fees and expenses related to RHB PF-i for Private Sector must be understood.
- Stamp Duty – Nominal amount of RM10.00 (per document)
- Brokerage Fee – RM30.00 per application
- Takaful Contribution – Takaful contribution is optional. Varies accordingly to financing amount, Customer’s age and tenure.
Conclusion
To sum up, RHB Personal Financing is the ideal choice for borrowers in Malaysia, as it offers an extensive range of solutions that cater to their diverse needs. With flexible and convenient loan options, RHB ensures that everyone can access competitive interest rates, regardless of their employment status in the public or private sector or if they are a pensioner.
Make sure to check your eligibility, gather all necessary documents, and apply for RHB Personal Financing immediately, either online or at an RHB location. The approval process typically takes only a few days.
Once your application has been approved, you may sign the loan agreement and receive your funds within a matter of days. RHB Bank’s personal financing is a dependable and convenient option for anyone seeking financial assistance. Apply now and enjoy their flexibility and ease of use!
*Tips: Read more about “Best Fast Approval Personal Loans in Malaysia” at BizTech Community now!