Chapter 7: Personal loans offered by Bank Rakyat (Bank Kerjasama Rakyat Malaysia Berhad)

Bank Rakyat (Bank Kerjasama Rakyat Malaysia Berhad)

The following are the personal loan schemes offered by Bank Rakyat

       A. Personal Financing-i Debt Consolidation

  1. Total Financing: RM50,000 to RM200,000

  2. Finance period: 12 to 120 month.

  3. Annual profit rate/interest rate: 2.38% p.a.

  4. Salary eligibility: Gross salary RM2,000 per month or RM24,000 per year

  5. Eligibility requirements:

·       Malaysian Citizen.

·       Aged 18 to 60 years.

·       Permanent staff in public sectior or private section.

·       Not blacklisted by any Financial Institution in Malaysia.

·       No Accounts Under Special Attention Account (SAA).

        6. Required Documents:  

Ø  For new applicant:

        ·       Copy of Identity Card (MyKad).

        ·       Copy of latest 3 months Salary Slip.

        ·       Copy of latest 3 months Bank Statements of salary crediting account.

        ·       Latest latest EPF statement.

        ·      One of the following document:

                    -     Job confirmation letter.

                    -     EA form

                    -     E-B LHDN slip

Ø  For Bank Rakyat customer:

        ·       Copy of Identity Card (MyKad).

        ·       Copy of latest 3 months Salary Slip.

        ·       Latest latest EPF statement.

        7. Charges imposed:

                             ·           Stamp duty fee of 0.5% of total financing.

                               ·           Brokerage Fee RM28.30.

                               ·           Late payment charges of 1% of outstanding balance.

            ·       No early termination fee.

 B. Personal Financing-i Public Sector

  1. Total Financing: RM5,000 to RM200,000

  2. Finance period: 12 to 120 month.

  3. Annual profit rate/interest rate: 4.54% p.a to 4.99% p.a

  4. Salary eligibility: Gross salary RM1,000 per month or RM 12,000 per year

  5. Eligibility requirements:

            ·       Malaysian Citizen.

            ·       Aged 18 to 60 years.

            ·       Service in Public sector, GLC Companies and GLC Subsidiary.

            ·       Minimum of three (3) months in service.

            ·       Fixed monthly income of RM1,000 or fixed annual RM12,000

            ·       Not blacklisted by any Financial Institution in Malaysia.

            ·       No Accounts under Special Attention Account (SAA).

   6. Required Documents:  

·       Copy of Identity Card (MyKad)

·       Copy of latest 3 months Salary Slip.

·       Copy of latest 3 months Bank Statements of salary crediting account.

·      One of the following document:

            - Job confirmation letter.

            - Latest EA form.

    7. Charges imposed:

             ·           Stamp duty fee of 0.5% of total financing.

             ·       Early Settlement Fee - Rebate (Ibra’) will be given on the deferred profit.

             ·       Wakalah or agency fee of RM28.30.

             ·           Late payment charges of 1% of outstanding balance.

C. Personal Financing-i Private Sector

  1. Total Financing: RM5,000 to RM150,000

  2. Finance period: 12 to 120 month.

  3. Annual profit rate/interest rate: 7.97% p.a to 8.12% p.a.

  4. Salary eligibility: Gross salary RM2,000 per month or RM24,000 per year

  5. Eligibility requirements:

           Ø  General requirements:

                 ·       Malaysian Citizen.

                 ·       Not blacklisted by any Financial Institution.

                 ·       No Accounts under Special Attention Account (SAA).

            Ø  For applicant with fixed income:

                 ·       Malaysian Citizen.

                 ·       Aged 18 to 60 years.

                 ·       Minimum Monthly Gross Income including fixed allowances:

                            -    RM2,000 and above for Permanent Employee.

                            -    RM8,000 and above for Contract Employee.

            Ø  For applicant with irregular income:

                 ·       Aged 18 to 55 years.

                 ·       Minimum Monthly Gross Income of RM5,000

 6. Required Documents: 

            Ø  For applicant with fixed income:

                 ·       Copy of Identity Card (MyKad)

     ·       Copy of latest 3 months Salary Slip.

     ·       Copy of latest 3 months Bank Statements of salary crediting account.

     ·       Latest latest EPF statement.

     ·      One of the following document:

              -     Job confirmation letter.

              -     EA form.

              -     E-B LHDN slip.

Ø  For applicant with irregular income:

     ·       Copy of Identity Card (MyKad).

     ·       Copy of latest 6 months Bank Statements.

     ·       Copy of B LHDN form.

 7. Charges imposed:

                  ·           Stamp duty fee of 0.5% of total financing.

                 ·       Early Settlement Fee - Rebate (Ibra’) will be given on the deferred profit.

                 ·       Wakalah or agency fee of RM28.30.

                 ·           Late payment charges of 1% of outstanding balance.

 D. Personal Financing-i for Pensioner

  1. Total Financing: RM5,000 to RM100,000

  2. Finance period: 12 to 120 month.

  3. Annual profit rate/interest rate: 6.86% p.a

  4. Salary eligibility: -

  5. Eligibility requirements:

       ·       Government pensioner

       ·       Not older than 65 years during the end of the financing period.

       ·       Minimum monthly pension RM800

 6. Required Documents:

            Ø  For applicant from Public Service Department (JPA):

                 ·       Identity Card (MyKad)

                 ·       Malaysia Government Pensioner Card

                 ·       Pension Statement

            Ø  For applicant from MAF Veteran Affairs Depatment (JHEV):

                  ·       Identity Card (MyKad)

                  ·       Army Pensioner Card

                  ·       Ledger Pensioner

  7. Charges imposed:

                  ·           Stamp duty fee of 0.5% of total financing.

                  ·       Early Settlement Fee - Rebate (Ibra’) will be given on the deferred profit.

                  ·       Wakalah or agency fee of RM28.30.

                  ·           Late payment charges of 1% of outstanding balance.

This is the end of this chapter, see you in the next post 😊