Personal Banking

Financing-i / Hire Purchase Vehicle Financing-i (An Naqlu 1)

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Product disclosure sheet

Bank Rakyat Auto Hire Purchase Financing-i offers a flexible installment scheme in purchasing new local and imported cars from the market.

Shariah Concept

Al-Ijarah Thumma Al-Bai` (“AITAB”)

Features

Maximum margin of 90% from on the road (OTR) sales price or invoice
Maximum financing tenure for up to 9 years
Financing limit is open and subject to customer's ability for monthly instalment commitment
Financing is for any purchase of new or used/reconditioned national or imported car

Eligibility

Not less than 18 years old and not more than retiring age at the end of financing tenure
Open to all public and private sector employees with fixed income who have served for at least 6 months.
Minimum monthly income of RM1,500

Profit Rate

Please contact our nearest branch for information.

Payment Term

Biro Perkhidmatan Angkasa (BPA)
Salary Deduction by Employer (PGM)
Electronic Payment
Salary Transfer

Required Document

1 Copy of MyKad
1 Copy of Driving License
1 Copy of Latest 3 Months Salary Slip
Statement of Account Transactions
Confirmation Letter from Employer

Fees & Charges

PERKARA	CAJ
Auto Hire Purchase Financing-i	RM10.00 You are advised to subscribe for motor coverage from Takaful companies. If customer prefers to subscribe for insurance coverage, the contribution/premium cost shall be borne by the customer.
Hire Purchase Financing-i Retirees	RM10.00 Note: Takaful Protection (DTT) is compulsory from a takaful company. You are advised to subscribe for motor coverage from Takaful companies. If customer prefers to subscribe for insurance coverage, the contribution/premium cost shall be borne by the customer.
Stamp Duty	RM 10
Issuance of letter to JPJ for change of vehicle engine no., interchange of vehicle registration no., duplicate registration card etc.	RM15.00 per document
Issuance of letter to authority for transfer of vehicle to East Malaysia or vice versa.	RM15.00 per document
Early Settlement Fee	N/A
Late Payment Charges	During the financing tenure : 1% per annum on the overdue instalment amount After expiry of financing tenure : Shall not be more than the prevailing daily overnight Islamic Interbank Money Market rate (IIMM) on the outstanding balance

The published rates, fees and charges are effective from 1st April 2019 following the implementation of 6% SST from 1st September 2018. Terms & conditions apply.

For any enquiries, please visit the nearest branch or call our Contact Centre tele-Rakyat at 1-300-80-5454.

*Terms and conditions apply.