Bank Rakyat
Discover Bank Rakyat Personal Financing-i options for public, private, and retired sectors featuring low rates and debt consolidation.
Introduction
Bank Rakyat offers a robust suite of Shariah-compliant personal financing products tailored to various employment sectors in Malaysia. Operating under Islamic banking principles, these solutions provide competitive rates, high financing limits, and flexible tenures to help individuals manage their financial needs effectively.
Personal Financing-i Public Sector
This financing plan provides civil servants with swift, hassle-free access to funds of up to RM400,000 without requiring a guarantor. Backed by the Tawarruq concept, applicants can choose between fixed or floating profit rates with flexible repayment tenures extending up to 10 years, making it an ideal choice for government employees seeking large capital.
Financing Eligibility
| Category | Eligibility Details |
|---|---|
| Installment Method | |
| Biro Perkhidmatan Angkasa (BPA) | Up to RM400,000 |
| Salary Deduction | Up to RM400,000 |
| Electronic Payment | Based on income multiplier or RM400,000 whichever is lower |
| Income Range | |
| RM 1,000 – RM 5,000 | 5 times monthly gross salary |
| RM 5,001 – RM 10,000 | 8 times monthly gross salary |
| More than RM 10,000 | 10 times monthly gross salary |
| General Eligibility | |
| Citizenship | Must be a Malaysian citizen |
| Age Requirement | Minimum 18 years, maximum 60 years old at end of financing tenure |
| Minimum Income | RM1,600 fixed monthly income including allowances |
| Employment Sector | Public sector, GLC companies, or GLC subsidiaries |
| Service Duration | Minimum of three (3) months in service |
Financing Rate, Fees & Document
Financing Rate, Fees & Document
| Category | Details |
|---|---|
| Fixed Rate | |
| Biro Perkhidmatan Angkasa – Salary Deduction | Up to 1 Year: 3.42% More than 1 Year – Up to 5 Years: 3.61% More than 5 Years – Up to 10 Years: 3.95% |
| Electronic Payment | Up to 1 Year: 4.53% More than 1 Year – Up to 5 Years: 4.76% More than 5 Years – Up to 10 Years: 5.22% |
| Floating Rate | |
| Biro Perkhidmatan Angkasa – Salary Deduction | Up to 1 Year: SBR + 2.42% More than 1 Year – Up to 5 Years: SBR + 2.75% More than 5 Years – Up to 10 Years: SBR + 2.77% |
| Salary Transfer to Bank Rakyat | Up to 1 Year: SBR + 3.78% More than 1 Year – Up to 5 Years: SBR + 4.24% More than 5 Years – Up to 10 Years: SBR + 4.07% |
| Electronic Payment | More than 1 Year: SBR + 4.42% More than 1 Year – Up to 5 Years: SBR + 4.75% More than 5 Years – Up to 10 Years: SBR + 4.77% |
| Required Documents | |
| New Application | Copy of MyKad/MyTentera Latest 3 months salary slip Latest 3 months bank statements of salary crediting account At least one: Employer confirmation letter or EA Form |
| Repeated/Overlapping | Copy of MyKad/MyTentera Latest 3 months salary slip At least one: Employer confirmation letter or EA Form |
| Fees & Charges | |
| Wakalah/Agency Fee | RM28.30 |
| Stamp Duty Fee | 0.5% of total financing (Stamp Duty Act 1949) |
| Early Settlement Fee | Rebate (Ibra’) given on deferred profit |
| Late Payment Charges | During tenure: 1% per annum on outstanding monthly payment After expiry: Not more than prevailing daily overnight Islamic Interbank Money Market rate (IIMM) |
Personal Financing-i for Pensioner
Specially structured for government pensioners, this plan ensures that retired individuals maintain seamless access to cash to fund personal milestones or medical expenses during retirement. The product offers a manageable maximum financing limit of RM100,000 over a 10-year tenure, ensuring the monthly commitments remain stress-free and aligned with pension payouts.
Financing Rate, Fees and Charges
Financing Rate, Fees and Charges
| Category | Details |
|---|---|
| Financing Rate | |
| Pension Transfer to Bank Rakyat | Up to 1 Year: SBR + 3.30% More than 1 Year – Up to 5 Years: SBR + 3.63% More than 5 Years – Up to 10 Years: SBR + 3.65% |
| Electronic Payment | Up to 1 Year: SBR + 5.30% More than 1 Year – Up to 5 Years: SBR + 5.63% More than 5 Years – Up to 10 Years: SBR + 5.65% |
| Notes | Current Standard Base Rate (SBR): 2.75% Additional profit rate of 1.50% for financing without takaful |
| Features | Maximum financing amount: RM100,000 Financing tenure: Up to 10 years No guarantor required Takaful coverage optional |
| Payment Methods | Pension Transfer to Bank Rakyat Electronic Payment |
| Eligibility | Government pensioner Not older than 70 years at end of financing period Minimum monthly pension: RM1,000 |
| Fees & Charges | |
| Wakalah/Agency Fee | RM28.30 |
| Stamp Duty Fee | 0.5% of total financing (Stamp Duty Act 1949) |
| Early Settlement Fee | Rebate (Ibra’) given on deferred profit |
| Late Payment Charges | During tenure: 1% per annum on outstanding monthly payment After expiry: Not more than prevailing daily overnight Islamic Interbank Money Market rate (IIMM) |
Personal Financing-i Debt Consolidation
This solution simplifies your financial life by merging multiple scattered credit balances from different lenders into a single, structured monthly installment. By migrating conventional debts into this Shariah-compliant account, you can tap into profit rates as low as 2.89% per annum, reducing monthly financial stress significantly.
Step-by-Step Guide
Step-by-Step Guide
| Category | Details |
|---|---|
| Step 1: List Financing | Gather financing balance, profit rate charges, and monthly installments for the financing you want to consolidate |
| Step 2: Calculate Eligibility | Estimate financing eligibility by visiting any Bank Rakyat branch or calling the Call Centre at 1 300 80 5454 |
| Step 3: Apply Financing | Submit application via: • Online at www.irakyat.com.my • Apply Now at www.bankrakyat.com.my • Call Centre 1 300 80 5454 • Visit nearest branch |
| Eligibility | Malaysian citizen Minimum age 18 years, maximum 60 years at end of financing tenure Minimum fixed monthly income RM1,600 including allowances Public sector, GLC companies, or subsidiaries Minimum of 3 months in service |
| Features | Consolidates multiple financing into one Simplifies repayment Potentially lower monthly installment |
Personal Financing-i Private Sector
Designed specifically to meet the unique financial needs of private-sector employees, this package delivers highly competitive market rates to match varied lifestyle requirements. Utilizing the trusted Tawarruq concept, it empowers private professionals to secure capital up to RM400,000 with a 10-year tenure and no guarantor obligations.
Key Features
Key Features
| Category | Details |
|---|---|
| Salary & Tenure | RM2,000 – RM3,000: New Application – 5 years, Repeated/Overlap – 10 years RM3,001 and above: New Application – 10 years, Repeated/Overlap – 10 years |
| Eligibility | Malaysian citizen Age: Minimum 18 years, maximum 60 years at end of financing tenure Minimum Gross Income: • RM2,000 and above for Permanent Employee • RM8,000 and above for Contract Employee Employment: Public Listed Companies, Private Limited Companies, Cooperatives, Legal Firms, NGOs |
| Concept | Tawarruq |
| Features | Financing amounts up to RM400,000 Financing tenure up to 10 years No guarantor required Takaful coverage optional |
| Required Documents | |
| New Application | Copy of MyKad Latest 3 months salary slip Latest 3 months bank statements of salary crediting account EPF Statement At least one: Employer confirmation letter, EA Form, or e‑B Slip by LHDN |
| Repeated/Overlap Application | Copy of MyKad Latest 3 months salary slip EPF Statement At least one: Employer confirmation letter, EA Form, or e‑B Slip by LHDN |
Financing Eligibility & Rate
Financing Eligibility & Rate
| Category | Details |
|---|---|
| Eligibility – BPA / Salary Deduction / Salary Transfer / Existing Customers | |
| RM2,000 – RM5,000 | 10 or 15 times Monthly Gross Income (MGI) |
| > RM5,000 – RM10,000 | 10 or 20 times MGI |
| > RM10,000 | 15 or 25 times MGI |
| Eligibility – Electronic Payment | |
| RM2,000 – RM5,000 | 5 times MGI |
| > RM5,000 – RM10,000 | 8 times MGI |
| > RM10,000 | 10 times MGI |
| Financing Rate – BPA / Salary Deduction / Salary Transfer | |
| Up to 1 Year | SBR + 4.91% or SBR + 5.91% |
| > 1 Year – 5 Years | SBR + 5.37% or SBR + 6.37% |
| > 5 Years – 10 Years | SBR + 5.47% or SBR + 6.47% |
| Financing Rate – Electronic Payment | |
| Up to 1 Year | SBR + 6.91% or SBR + 7.91% |
| > 1 Year – 5 Years | SBR + 7.37% or SBR + 8.37% |
| > 5 Years – 10 Years | SBR + 7.47% or SBR + 8.47% |
| Notes | Profit rate & tenure subject to employer classification Current Standard Base Rate (SBR): 2.75% Additional profit rate of 1.50% for financing without takaful Ceiling Rate = Effective + 4.00% |
| Fees & Charges | |
| Wakalah/Agency Fee | RM28.30 |
| Stamp Duty Fee | 0.5% of total financing (Stamp Duty Act 1949) |
| Early Settlement Fee | Rebate (Ibra’) given on deferred profit |
| Late Payment Charges | During tenure: 1% per annum on outstanding monthly payment After expiry: Not more than prevailing daily overnight Islamic Interbank Money Market rate (IIMM) |
Personal Financing-i Private (Exclusive)
This premium tier caters exclusively to qualified professionals and high-earning executives within the private sector who require higher liquidity and customized financial attention. Offering substantial financing limits up to RM400,000, it provides elite tier profit rates and streamlined processing times to suit fast-paced professional lifestyles.
Financing Details
Financing Details
| Category | Details |
|---|---|
| Payment Method & Tenure | Salary Deduction (PGM): 10 Years Salary Transfer to Bank Rakyat: 10 Years Electronic Payment: 8 Years |
| Eligibility | Malaysian citizen Age: Minimum 18 years, maximum 60 years at end of financing tenure Minimum Gross Income: • More than RM5,000 for Permanent Employee • RM8,000 and above for Contract Employee |
| Concept | Tawarruq |
| Features | Financing amounts up to RM400,000 Financing tenure up to 10 years No guarantor required Takaful coverage optional |
| Financing Eligibility | |
| Salary Deduction (PGM) / Salary Transfer | RM5,000 – RM6,000: 20× monthly gross income More than RM6,000: 25× monthly gross income |
| Electronic Payment | RM5,000 – RM10,000: 8× monthly gross income More than RM10,000: 10× monthly gross income |
| Financing Rate – Floating | Up to 1 Year: SBR + 3.03% More than 1 Year – Up to 5 Years: SBR + 3.13% More than 5 Years – Up to 10 Years: SBR + 3.23% |
| Notes | Current Standard Base Rate (SBR): 2.75% Additional profit rate of 1.50% for financing without takaful Ceiling Rate = Effective + 4.00% |
| Required Documents | |
| New Application | Copy of MyKad Latest 3 months salary slip Latest 3 months bank statements of salary crediting account EPF Statement At least one: Employer confirmation letter, EA Form, or e‑B Slip by LHDN |
| Repeated/Overlap Application | Copy of MyKad Latest 3 months salary slip EPF Statement At least one: Employer confirmation letter, EA Form, or e‑B Slip by LHDN |
| Fees & Charges | Wakalah/Agency Fee: RM28.30 Stamp Duty Fee: 0.5% of total financing (Stamp Duty Act 1949) Early Settlement Fee: Rebate (Ibra’) on deferred profit Late Payment Charges: During tenure – 1% per annum on outstanding monthly payment; After expiry – Not more than prevailing daily overnight Islamic Interbank Money Market rate (IIMM) |
Personal Financing-i Umrah and Hajj
This specialized Islamic financing package is uniquely crafted to help Muslims fulfill their sacred spiritual journeys to Mecca without facing immediate financial strain. The funds efficiently cover travel packages, accommodation, and related pilgrimage expenses, allowing individuals to focus fully on their spiritual obligations with structured, affordable repayments.
Key Features
Key Features
| Category | Details |
|---|---|
| Financing Amount | Maximum financing up to invoice amount AND travel allowance up to RM500 per day OR actual eligibility amount, whichever is lower |
| Application Steps | 1. Obtain invoice/cost: Get invoices or costs from registered Umrah/Hajj management company 2. Calculate eligibility: Estimate financing eligibility at nearest Bank Rakyat branch or call 1‑300‑80‑5454 3. Apply financing: Submit application via: • Online banking at www.irakyat.com.my or www.bankrakyat.com.my • Contact Centre 1‑300‑80‑5454 • Visit nearest branch |
Personal Financing-i for Solar Panel
Geared toward eco-conscious homeowners, this green energy financing option assists customers in purchasing and installing solar photovoltaic systems for their residential properties. By lowering the upfront barrier to renewable energy, Bank Rakyat helps clients reduce long-term electricity bills while contributing positively to national sustainability goals.
Key Features
Key Features
| Category | Details |
|---|---|
| Products Offered | Personal Financing‑i Public Personal Financing‑i Private Personal Financing‑i Pensioner Personal Financing‑i Private (Exclusive) |
| Features | Financing amounts up to RM400,000 Fixed or floating profit rate options Supports renewable energy and sustainability projects |
| Benefits | Financial empowerment through energy savings Exclusive partnerships with top‑tier solar PV providers Environmental stewardship for a cleaner Malaysia Access to innovative solar technology |
| Eligibility | Malaysian citizen Age: Minimum 18 years, maximum 60 years at end of financing tenure Available for public sector employees, private sector workers, pensioners, and professionals |
| Application Steps | 1. Obtain invoice/cost: Acquire invoices from Bank Rakyat’s solar partners 2. Calculate eligibility: Estimate financing eligibility at nearest branch or call 1‑300‑80‑5454 3. Apply financing: Submit application via: • Online banking at www.irakyat.com.my or www.bankrakyat.com.my • Contact Centre 1‑300‑80‑5454 • Visit nearest branch |
| Bank Rakyat’s Solar Partners | Voltago Solar Sdn Bhd Green Energy Generation Sdn Bhd UZMA Environergy Sdn Bhd Suria Infiniti Sdn Bhd Voltek Energy Sdn Bhd |
| Financing Rate | Equivalent to flat rate as low as 2.92% per year Financing tenure up to 10 years |
| Enquiries | Visit nearest branch or call Contact Centre tele‑Rakyat at 1‑300‑80‑5454 |
| Terms | Terms and conditions apply |
Personal Financing-i DivA
This exclusive financial program is specifically reserved for registered Bank Rakyat Members, offering them premium banking privileges and tailored financing solutions. The DivA package rewards member loyalty by granting access to optimized profit rates and preferential terms that are unavailable to the general public.
Key Features
Key Features
| Category | Details |
|---|---|
| Features | Financing up to RM400,000 (Public/Private Sector) Up to RM100,000 (Pensioner) Tenure up to 10 years No guarantor required Takaful coverage optional Fixed profit rate |
| Financing Rate – Public Sector | Up to 1 Year: Normal 3.17%, Debt Consolidation 2.99% 1–5 Years: Normal 3.56%, Debt Consolidation 3.33% 5–10 Years: Normal 3.88%, Debt Consolidation 3.64% |
| Financing Rate – Private Sector | Up to 1 Year: Normal 4.39%, Debt Consolidation 4.19% 1–5 Years: Normal 4.48%, Debt Consolidation 4.27% 5–10 Years: Normal 4.88%, Debt Consolidation 4.65% |
| Financing Rate – Pensioner | Up to 1 Year: 4.00% 1–5 Years: 4.10% 5–10 Years: 4.34% |
| Notes | Rates apply with or without takaful |
| Financing Eligibility | Maximum 80% of Bank Rakyat’s shares held OR maximum financing amount allowed, whichever is lower |
| Eligibility | Malaysian citizen Minimum age 21 at application Maximum age: 60 (Public/Private), 70 (Pensioner) Minimum gross income: RM1,600 (Public), RM2,000 (Private) Minimum pension: RM800 (Pensioner) Holding Bank Rakyat shares of RM5,000 with at least 1 year membership |
| Required Documents – Public Sector | Copy of MyKad/MyTentera Latest 3 months salary slip Latest 3 months bank statements At least one: Employer confirmation letter or EA Form |
| Required Documents – Private Sector | Copy of MyKad/MyTentera Latest 3 months salary slip Latest 3 months bank statements EPF statement At least one: Employer confirmation letter, EA Form, or e‑B Slip by LHDN |
| Required Documents – Pensioner | MyKad Malaysia Government Pensioner Card (JPA) Army Pensioner Card (JHEV) Ledger Pensioner Pension Statement |
| Fees & Charges | Wakalah/Agency Fee: RM28.30 Stamp Duty Fee: 0.5% of total financing (Stamp Duty Act 1949) Early Settlement Fee: Rebate (Ibra’) on deferred profit Late Payment Charges: During tenure – 1% per annum on outstanding monthly payment; After expiry – Not more than prevailing daily overnight Islamic Interbank Money Market rate (IIMM) |
Personal Financing-i E-Bike
Designed to encourage sustainable urban mobility, this targeted financing product provides accessible funding for purchasing eco-friendly electric motorcycles and bicycles. It offers low monthly installments and fast approvals, making green transportation affordable for daily commuters looking to reduce fuel costs and carbon footprints.
Key Features
Key Features
| Category | Details |
|---|---|
| Products Offered | Personal Financing‑i Public Personal Financing‑i Private Personal Financing‑i Pensioner Personal Financing‑i Private (Exclusive) |
| Benefits | Savings on commuting costs (fuel & maintenance) Environmentally friendly choice – reduces air & noise pollution Access to government incentives & rebates for EV purchases |
| Features | Financing amounts up to RM400,000 Fixed or floating profit rate options Tailored for public sector, private individuals, pensioners, and professionals |
| Eligibility | Malaysian citizen Age: Minimum 18 years, maximum 60 years at end of financing tenure Available for all personal financing segments under Bank Rakyat guidelines |
| Financing Rate | Equivalent flat rate as low as 2.92% per annum Financing tenure up to 10 years |
| Application Steps | 1. Obtain invoice/cost: Get invoice for E‑Bike purchase 2. Calculate eligibility: Estimate financing eligibility at nearest branch or call 1‑300‑80‑5454 3. Apply financing: Submit application via: • Online banking at www.irakyat.com.my or www.bankrakyat.com.my • Contact Centre 1‑300‑80‑5454 • Visit nearest branch |
| Terms | Terms and conditions apply |
Conclusion
Bank Rakyat’s diverse personal financing portfolio ensures that every Malaysian—whether a public servant, private executive, pensioner, or eco-conscious consumer—can find a structured financial solution. By combining competitive Shariah-compliant concepts with practical benefits like debt consolidation, the bank remains a premier institution for personal wealth management.
Contact Us
| Category | Details |
|---|---|
| Contact Centre Hotline | Local: 1‑300‑80‑5454 International: +603‑5526 9000 Email: telerakyat@bankrakyat.com.my |
| Operation Time | General inquiries: 7:30 am – 9:30 pm Application status, internet banking, lost reports: 9:30 pm – 7:30 am |
| Fraud Hotline | Local: 1‑300‑80‑2273 International: +603‑5526 8800 |
| National Scam Response Centre | Hotline: 997 Operating hours: 8 am – 8 pm daily |
| Head Office | Complaint Management Unit Level 29, Menara 1, Menara Kembar Bank Rakyat No. 33, Jalan Rakyat, 50470 Kuala Lumpur |
| Head Office Operation Time | Monday – Thursday: 9:00 am – 1:00 pm, 2:00 pm – 5:00 pm Friday: 9:00 am – 12:45 pm, 2:30 pm – 5:00 pm |
| Credit Card Hotline | 24‑hour hotline: 03‑2693 6880 Card loss/theft: 03‑2692 4600 |