Bank Rakyat Personal Loan Swasta



Personal Financing-i Swasta
Minimum income of RM 2,000
Manufacturing sector friendly. If applicant with income RM 1,000 monthly can also apply if they are working on Bank Rakyat's company list
Loan amount from RM 2,000 to Maximum of Rm 150,000 up to 9 years of financing
From 15 to 25 times salary financing available
18 years and above

Bank Rayat Personal Financing-i Swasta is the personal loan package that is catered for private sector professionals such as doctors, engineer, lawyer and public listed companies employees . This is a personal loan for private sector unlike typical loans from Bank Rakyat which is catered for public sectors. The loan is fully Islamic compliant while it is based on Tawarruq concept.

Financing-i Swasta is a partially unsecured loan collateral is not needed however a guarantor may be needed when required by bank as a form of security. This loan offers from RM 2,000 up to RM 150,000 of financing. This amount of financing offered would a maximum of 5 times salary for those earning RM 2,000 to RM 4,000 , 15 times salary for those who are earning RM 4,000 to RM 6,000  and 25 times salary for those who are earning above RM 6,000 per month.


Employement Status Length Interest Rates
Selected Companies 1 to 3 years BaseRate + 16.18%
Salary from RM 1,000 to RM 1,999 4 to 7 years BaseRate + 16.43%
Selected Companies 1 to 3 years BaseRate + 5.27%
Salary from RM 2,000 and more 3 years and more BaseRate + 5.42%
Not in Bank Rakyat’s Company list 1- 3 years BaseRate + 7.42%
Salary from RM 2,000 and more 3 years and more BaseRate + 7.58%

Interest Rates

Interest rates of this loan would vary depending on loan amount. At the moment of writing, the interest rates provided by this loan is quite competitive among other private loans in Malaysia.  You can also enjoy better rate if you pay via Bank Rakyat’s saving account and Takaful package while having higher salary and stable employement. The table above summarizes the interest rates for Bank Rakyat Personal Loan. The rates are tied with Base Rate from Bank Rakyat. Interest Rates are negotiable based on profile of the private company one is attached to.


This loan subjected to 0.5% stamp duty which is based on the financing amount. This fee will be deducted from the amount borrowed. Borrower is advised to purchase Takaful insurance. There is a 1% p.a penalty for any late payment. The repayment for the loan can be done via Bureau Angkasa scheme, salary auto deduction or cash. There is a RM 30 Wakalah fees. All service charges are subject to GST charges.


This loan if available for Malaysian Citizens from 18 years and above. This loan has one of the youngest requirement for age. Typically a Malaysian personal loan would start from 20 years and above.  You will need to have a minimum monthly income of RM 2,000 to qualify for the loan. Personal Financing-i Swasta is only catered for professionals from private sectors. Fixed employment is required while contractual employees are required to have a minimum monthly salary of RM 8,000.

Permanent employee from manufacturing sector that is from Bank Rakyat’s company list with minimum salary of RM 1,000 can also apply for the loan. This loan is factory worker’s friendly.


There are various ways repayment methods for the loan.

  • Cash
  • Bank transfer to Bank Rakyat
  • Bureau Angkasa (BPA)
  • Salary deduction by employer (PGM)
  • Electronic payment

Documents needed 

  • Photocopy IC on both sides
  • Latest 3 months payslip
  • Latest 6 months EPF statement
  • Confirmation employment letter
  • Most Recent BE form


  • Very low interest rates
  • Auto salary deduction


  • Only companies listed by Bank Rakyat is eligible. There are limited number of companies in the list at the moment


If you are keen, Financing-i Swasta repayment table without Takaful is available below.

bank rakyat personal loan table 2015