in Information

Personal Loan by Bank Rakyat

Bank Rakyat offers many financial services including Personal Financing, if you are looking for personal financing here are some financial packages you can consider.

Well known as an Islamic cooperative bank which was established in 1954 under the Cooperative Ordinance of 1948, following the growth of the cooperative movement in Peninsular Malaysia.

Previously known as Bank Agong or Apex Bank, this financial institution was the result of a merger with 11 union banks. It was then established as a primary channel to collect funds, and distribute financing to cooperatives. Renamed Bank Kerjasama Malaysia Berhad in 1967, the Bank has since extended its membership to individuals as well.

Currently for personal loans Bank Rakyat offer Personal Financing-iAslah for Civil Servant (RakanPintar) & Private. This is to cater to the needs of customers from different work background and easy application.

Customers who apply for Personal Financing-iAslah must fulfil all the criteria’s:

  • Malaysian citizen
  • Minimum age of 18 years and maximum 60 years old at the end of the financing tenure
  • Minimum fixed monthly income of RM1,000 including fixed allowances
  • Public sector employee
  • Have been confirm in current service

Bank Rakyat offers a unique plan under “Personal Financing-iAslah” which is designed specifically for public servants& private in which it offers a lower profit rate with the following benefits:

Features of Personal Financing-iAslah for Public Servants

  • Amount of financing up to RM200,000
  • Financing tenure up to 10 years
  • Financing margin up to 35 times your monthly gross salary
  • No guarantor
  • Takaful coverage are optional
  • No advance payment

Features of Personal Financing-iAslah for Private

  • Amount of financing up to RM150,000
  • Financing tenure up to 10 years
  • Financing margin up to 10 times your monthly gross salary (Salary RM2,000 – RM3,000) and 15 times your monthly gross salary (Salary RM3,001 and above)
  • No guarantor
  • Takaful coverage are optional
  • No advance payment

Negotiation rate offered to employees of companies or cooperatives with certain conditions stated by Bank. Customers can select a preferable payment methodfor Personal Financing-iAslah.

  • Saving/Current Account Deduction (Salary transfer to Bank Rakyat)
  • Documents Required

Please prepare the this documents for Personal Financing-iAslah application:

 

New Application          

1. Copy of Identity Card / Authority Card (Police / Army)

2. Latest 3 months’ salary slip

3. Latest employer’s confirmation letter

4. Latest three (3) months Bank Statements of salary crediting account

 

Repeated/Overlap Application 

1. Copy of Identity Card

2. Latest 3 months’ salary slip