Bank Rakyat Personal Financing-i Public
Fixed rates from 4.92% p.a. for public sector employee, with free Premium Banking Membership.
Calculate your monthly repayment
Fees and Charges
Eligibility
- Goverment employees
- GLC employees
- Public Listed Company employee
- A copy of your IC (both sides)
- Latest 3 months salary slips
- Latest 3 months bank statement (with salary being credited)
- Latest B/BE Form with official tax receipt
- Latest EPF statement
- Letter of employment or employer confirmation
Loan Repayment Table
| Financing Amount | Financing Tenure | Min. Income | Profit Rate |
|---|---|---|---|
| RM 10,000 - RM 400,000 | 12 - 120 months | min. RM 19,200 | 4.92% p.a. - 6.72% p.a. |
Features
Fixed Profit Rate as low as 4.92% p.a - 6.72% p.a
Monthly repayment as low as RM124.33
Free Premium Banking Membership & Cash back RM0.50 on MEPS and Tabung Haji at ATM Transaction
Shariah compliant
No Collateral or Guarantor Required
Minimum loan amount: RM10,000
Maximum loan amount: RM400,000
Minimum duration of the loan: 12 months
Maximum duration of the loan: 120 months
Terms and Conditions
Product Review by CompareHero
Who Can Apply for Bank Rakyat Personal Financing-i Public?
Bank Rakyat's Personal Financing-i Public is for public sector employees, staff at selected GLCs, and their subsidiaries.
Applicants must meet these requirements:
- Aged between 18 and 60 at the time of application
- Employed for at least 3 months with their current employer
- Earn a minimum monthly income of RM1,600
How Much Can Applicants Borrow Under Bank Rakyat Personal Financing-i Public?
The Bank Rakyat Personal Financing-i Public amount depends on the credit check outcome and the chosen instalment method. Applicants can borrow up to RM400,000 over a maximum tenure of 10 years.
| Instalment Method | Maximum Financing Amount |
| Salary transfer to Bank Rakyat | Up to RM400,000 |
| Biro Perkhidmatan Angkasa (BPA) | Up to RM400,000 |
| Salary deduction | Up to RM400,000 |
| Electronic payment | Based on income multiplier or RM200,000, whichever is lower |
| Income | Eligibility |
| RM1,000 - RM5,000 | 5x monthly gross salary |
| RM5,001 - RM10,000 | 8x monthly gross salary |
| More than RM10,000 | 10x monthly gross salary |
The profit rate is fixed and includes Takaful coverage, based on the instalment method chosen. Applicants who opt out of Takaful pay an additional 1.04% on top of the standard profit rate.
What Fees and Charges Apply to Bank Rakyat Personal Financing-i Public?
Bank Rakyat Personal Financing-i Public charges zero processing fees. Applicants pay Government Stamp Duty at 0.50% of the total amount borrowed, plus a Wakalah fee for the Islamic financing structure.
Is Takaful Coverage Compulsory for Bank Rakyat Personal Financing-i Public?
Takaful coverage is optional, but Bank Rakyat recommends signing up through its panel of Takaful providers. Takaful settles the outstanding Personal Financing-i Public balance if the borrower dies or becomes permanently disabled.
What Is the Monthly Instalment for Bank Rakyat Personal Financing-i Public?
Monthly instalments start the month after the funds are disbursed and used. Approved applicants receive a payment schedule together with their loan agreement.
The fixed profit rate applies to Salary Transfer, Biro Perkhidmatan Angkasa, and Salary Deduction payment methods. For floating rates:
| Payment Type | Tenure (Months) | Profit Rate (Floating) |
| Salary transfer to Bank Rakyat | 12 - 120 | SBR + 3.78% to 4.07% p.a. |
| Biro Perkhidmatan Angkasa and Salary Deduction | 12 - 120 | SBR + 2.42% to 2.77% p.a. |
| Electronic Payment | 12 - 120 | SBR + 4.42% to 4.77% p.a. |
Bank Rakyat's current Standardised Base Rate (SBR) is 3.00%. Financing without Takaful adds 1.50% to the floating profit rate.
Can Personal Financing-i Public Be Settled Early?
Yes, at zero cost. Borrowers also receive an ibra' (rebate) for the deferred profit that has not yet been accounted for as earned.
What Documents Are Required for Bank Rakyat Personal Financing-i Public?
Bank Rakyat Personal Financing-i Public is unsecured, so no guarantor or collateral is needed.
First-time applicants:
- IC or MyTentera (front and back)
- Latest 3 months' salary slips
- Latest 3 months' bank statements for the salary crediting account
- Either an Employer Confirmation Letter or an EA form
Returning customers:
- IC or MyTentera (front and back)
- Latest 3 months' salary slips
Can Blacklisted Applicants Apply for Bank Rakyat Personal Financing-i Public?
Approval depends on the applicant's credit history with other financial institutions. Outstanding credit card, personal loan, home loan, and car loan debts are recorded in CCRIS/CTOS, a system that tracks credit information rather than blacklisting borrowers.
Applicants with a poor payment history improve their approval chances by making consistent, on-time payments going forward. Bank Rakyat is more likely to approve applications from those who show they are managing their finances rather than taking on more debt.