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