SMIfunding - RHB Personal Financing-i for Civil Sector

RHB Personal Financing-i for Civil Sector

Profit rates

Based on your loan amount & loan period, the interest rates are as low as the following

Financing Value Financing period Your Annual Income Profit Rate RM2,000 - RM300,000 24 to 120 months min. RM24,000 3.05% p.a. - 3.17% p.a

Financing period is minimum 24 months and maximum 120 months (depending on the financing tier selected)

Fees & Charges

Profit Rate / APR

As low as 3.05% p.a.*
*Subject to terms and conditions

Processing Fee

RM30, per application, for Brokerage Fee

Stamp Duty

As per the Stamp Duty Act 1949 (Revised 1989)

Early Termination Fee

None

Late Penalty Fee

1% from current outstanding amount, and per annum

Mode of Payment

You must pay your financing installment by salary deduction

Requirements

Minimum Annual Income

RM24,000

Minimum Age

18 to 58 years old

Who can apply

Malaysians
Government employee
Federal or State Government employee
Selected GLC employee

More Information

Ideal personal financing for government employees for personal consumption, investment in appreciating assets, children's education or paying for hospital bills or any Halal transactions.

Why should I apply for RHB Personal Financing-i for Civil Sector?

Specially tailored for government employees, this personal loan is compliant with Shariah principles. If you're earning below RM5,000, you'll get flat profit rates as low as 3.05% p.a. to 3.17% p.a., which is equivalent to an Annual Effective Rate of 5.75% p.a.

For those earning RM5,000 and above monthly, you'll enjoy flat profit rates from 2.78% p.a. to 2.88% p.a., with an Annual Effective Rate equivalent to 5.25% p.a.

Government pensioners can also apply for RHB Personal Financing-i for Civil Sector, on the condition that you must open and maintain a bank account with RHB Islamic Bank.

How much money can I borrow?

RHB Islamic Bank allows you to borrow as much as RM300,000, with the minimum borrowing amount starting from RM2,000.

The repayment terms for this personal financing are flexible between 2 to 10 years.

Once your personal financing application is approved, you need to pay a Brokerage Fee of RM30 and a statutory Stamp Duty as per the Stamp Duty Act 1949 (Revised 1989).

After RHB Islamic Bank has reviewed and approved your personal financing application, your money will then be transferred to a Savings Account or Current Account of your choice.

What is my monthly instalment payment?

RHB Islamic Bank will provide you with a repayment table based on the approved borrowing amount and selected tenure of financing.

You are obligated to make your instalment payment on time every month.

If you pay your instalment after the due date, RHB Islamic Bank will charge you a late payment fee of 1% p.a. of the outstanding balance.

You are also required to set up a salary deduction payment via Biro Angkasa for this personal financing. This way, you don't have to miss a payment.

Can I choose to settle my Islamic personal loan early?

There is no penalty for early settlement, provided that you inform RHB Islamic Bank with a 1-month notice before terminating your Islamic financing facility.

In fact, you will be granted Ibra’ (rebate) based on the profits calculation and any applicable early settlement charges. Check out the product disclosure sheet for more details.

Do I need Takaful coverage?

You can sign up for a Takaful plan with RHB Islamic Bank's panels or Takaful providers of your choice.

On the bright side, Takaful coverage is beneficial in the event you have lost the capability to meet your outstanding payments due to total permanent disability or death.

What documents are required to apply for this government financing?

To approve your personal financing application, RHB Islamic Bank requires you to fill out an application form and submit it together with supporting documents such as:

Copy of your IC (front and back)
Latest 1-month salary slip/commission statement
Latest 1-month bank statement
Latest 12-month EPF statement
Latest Form B/BE with the official tax receipts by IRB

Am I qualified to apply for an RHB personal loan if I'm blacklisted?

Depending on your credit history with other financial institutions, all this information (outstanding credit card, personal loan, home loan or car loan debts) will be captured in CCRIS / CTOS (a system that collects credit information on borrowers, not blacklisting them).

Assuming you have poor credit standing due to irregular payments, the best course would be to break the habit and start making your payments on time to avoid future hurdles.

RHB Islamic Bank is more likely to approve your RHB Personal Financing-i for Civil Sector application if you can show that you are managing your finances, rather than accumulating more debt.