RHB Personal Loan

RHB Bank Berhad is the fourth largest fully integrated financial services group in Malaysia.

Established in 1997 from the merger of two banks to create Malaysia's third largest financial services group. RHB Bank Berhad now has 210 branches in Malaysia with 196 RHB conventional bank branches and 14 RHB Islamic branches. RHB also has 19 branches overseas in countries such as Singapore, Indonesia and Brunei. RHB offers customers various banking services such as credit cards, personal loans, Islamic banking, wealth management and more.

Compare Personal Loans by RHB Malaysia

RHB Bank is a local, Islamic bank with 190+ Branches. They offer 7 different Credit Cards, 2 Personal Loans and 2 Mortgages.

About the loan

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Features

ongoing
 promotion

-
profit rates8.18% p.a. - 13.45% p.a.
effective profit rate
15% p.a. - 24% p.a.
minimum financing amountRM 2,000
maximum financing amountRM 150,000
minimum financing tenure12 months
(1 year)
maximum financing tenure84 months
(7 years)

Benefits

  • profit rate as low as 8.18% p.a. equivalent to 15% p.a.
  • instant financing of up to RM 150,000
  • on-the-spot approval and disbursement
  • repayment as low as RM 57.54 per month
  • enjoy up to 7 years of tenure
  • consolidate your debts
  • repay via self-payment or auto-debit instructions

Eligibility

  • private sector employee only
  • 21 to 55 years old
  • minimum annual income - RM 18,000 (or RM 1,500 per month)

Fees & Charges

  • late payment compensation - 1% p.a. on the overdue amount or outstanding balance
  • early exit fee - RM100 or 1 % of total loan approved, whichever is higher, during the 6 months lock-in period
  • stamp duty - 0.5% as per Stamp Duty Act 1949 (revised 1989), deducted from total loan approved prior to disbursement
CategoryFinancing Amount
Capping (RM)
Profit Rate
from p.a.

Maximum
Financing Tenure
MinimumMaximum
Tier 12,00010,00013.45%5 years (60 months)
Tier 111,00015,00013.45%
7 years (84 months)
Tier 2
16,00050,00011.66%7 years (84 months)
Tier 3
51,00099,0009.91%7 years (84 months)
Tier 4
 100,000150,0008.18%7 years (84 months)

* personal finance of 7 years tenure requires a minimum financing amount of RM 11,000 and above

* effective interest rate (EIR) may be higher if the monthly repayment is not regular

* the rates stated above are based on a flat rate and vary according to the repayment period from 12 months onwards

  • Tier 1:  13.45% p.a. flat equivalent to EIR 24% p.a.
  • Tier 2: 11.66% p.a. flat equivalent to EIR 21% p.a.
  • Tier 3: 9.91% p.a. flat equivalent to EIR 18% p.a.
  • Tier 4: 8.18% p.a. flat equivalent to EIR 15% p.a.

Reference

[last updated: 07 Nov 2019]

Features

ongoing
 promotion

-
profit ratesfrom 4.50% p.a. flat
effective profit rate
7.91% p.a. - 8.41% p.a.
minimum financing amountRM 2,000
maximum financing amountRM 200,000
minimum financing tenure24 months
(2 years)
maximum financing tenure120 months
(10 years)

Benefits

  • Syariah-compliant (concept of Commodity Murabahah via Tawarruq arrangement)
  • promotion rates as low as 4.50% p.a. flat
  • financing amount up to RM 200,000
  • repayment tenure up to 10 years
  • no guarantor required
  • take advantage of salary deduction scheme
  • a flexible payment period

Eligibility

  • Malaysian citizen
  • must be federal government servant / state government servant / selected GLC employees
  • minimum age 18 years old
  • maximum age 58 years old at the end of financing tenure
  • minimum monthly income - RM 2,000 (inclusive fixed allowance)

Fees & Charges

  • stamp duty - RM 10 per document as per Stamp Duty Act 1949 (revised 1989)
  • brokerage fee - RM 30 per application
  • collection fee - 2% of monthly payment (incorporated in the monthly salary deduction)
  • Takaful contribution - varies accordingly to financing amount, age and payment period
  • late payment compensation - 1% per annum of the overdue payment
  • no lock-in period imposed
  • exit fee charges - none

Documents Required

#Documents to prepare
1copy of your MyKad (front and back)
2latest 3 months' salary slip
3employee confirmation letter
with employer's official letterhead
4copy of RHB / RHBIB
or any other banks' account passbook
5redemption statement of other banks
or financial institutions (if any)
6retirement option letter
(for applicants aged 48 years old & above,
if tenure exceeds mandatory retirement age)
7transfer letter
(for applicants who will be transferred in less than 6 months,
from the point of application)
8T228 (for Sarawak applicants only)

Reference

Features

ongoing
 promotion

-
profit ratesfrom 5.25% p.a. flat
effective profit rate
9.08% p.a. - 9.76% p.a.
minimum financing amountRM 5,000
maximum financing amountRM 100,000
minimum financing tenure36 months
(3 years)
maximum financing tenure120 months
(10 years)

Benefits

  • Syariah-compliant to the concept of Commodity Murabahah via Tawarruq arrangement
  • 5.25% profit rate p.a. on a flat rate basis
  • no guarantor or collateral required
  • payment tenure of up to 10 years
  • monthly payment via deduction from pension proceeds credited to the pensioners' account
  • targeted to government pensioners
    • army service
    • any other government ministries
    • any other government departments
    • any other government agencies

Eligibility

  • Malaysian citizen
  • minimum 40 years old
  • exclusively for pensioners of Malaysian government servant

Fees & Charges

  • stamp duty - RM 10 per document as per Stamp Duty Act 1949 (revised 1989)
  • brokerage fee - RM 30 per application
  • Takaful contribution - varies accordingly to financing amount, age and payment period
  • late payment compensation - 1% per annum of the overdue payment
  • no lock-in period imposed
  • exit fee charges - none

Documents Required

#Documents to prepareOriginalDuplicate
1copy of your MyKad (front and back)-2
2copy of Kad Pesara Kerajaan Malaysia
or Kad Pesara Tentera
-2
3Penyata Pencen JPA or
Lejar Pesara JHEV
-1
4copy of RHBIB savings account passbook
or statement (compulsory for new customers)
-2
5redemption statement of other banks
or financial institutions (if any)
1-

Reference

RHB’s ASB/ASB2 Financing is a loan that lets you take out a loan to purchase ASB units for your future wealth.

Benefits & Features

  • High margin of financing
  • Flexible financing tenure
  • Consistent dividend returns
  • Affordable repayment schemes
  • Insurance coverage (optional)

Financing Amount & Interest Rates

Financing Amount:

  • Minimum RM20,000 up to RM200,000 or the maximum investment limit determined by ASNB/PNB

Interest Rates:

  • First 4 years: Base Rate + 1.55%
  • Subsequent years: Base Rate + 1.15%

Financing Tenure:

  • Minimum tenure: 5 years
  • Up to 30 years or up to the age of 65

Fees and Charges

  • Endorsement Fee: RM50
  • Overdraft against ASB/ASW 22020: RM100 per certificate
  • Offer Letter: RM10
  • Commitment Fee: 1% p.a. on unutilized portion of overdraft facility for amounts above RM250,000
  • Exit Fee: When full repayment of the outstanding financing is made within first 2 years from date of loan disbursement

RHB Bank is a Malaysian bank and is one of the largest integrated financial services group in Malaysia. It was founded in 1997 as a result of a merger between DCB Bank and Kwong Yik Bank. They offer a variety of products through its many subsidiaries such as RHB Bank Berhad, RHB Investment Bank Berhad, and RHB Islamic International Asset Management Berhad.

They were the first local banking and finance group in Malaysia to establish an Islamic banking subsidiary: RHB Islamic Bank Berhad. They also acquired OSK Investment Bank Berhad in November 2012, making them the largest investment bank in the country (by assets). They provide financial services to Malaysia, Singapore, Thailand, Vietnam, Brunei, Cambodia, Laos, Indonesia, and Hong Kong.

RHB Personal Loans are available in several different plans that offer you a variety of options and choices for your financing needs. Be it you are looking to fund your wedding, buy a car, renovate your house, or even to go on a holiday, their competitive rates and excellent services can provide.

You must be a Malaysian and must be employed for at least 6 months, as you will need to provide your latest 6-month EPF statement. If you are self-employed, you will also need to have the latest 6-month bank statement of your business.

No, you will not require a guarantor or collaterals for RHB personal loans.

Yes, you can. However, it must be done after the lock-in period (depending on which personal loan you apply for). There will be an early settlement fee.

Yes, there is. It will be calculated with a flat interest rate and charged based on the amount approved. It is calculated as such:


[n(n+1)/t(t+1)] x P

n: Number of monthly instalments remaining

t: Financing tenure in months

P: Total interest payable over entire tenure


Total settlement after rebate calculation = (Total repayments – rebate) + [early exit fee+late payment charges (if any)]