Cards 

Bank Rakyat World Mastercard Credit Card-i

Shariah Concept

The financing facilities are under the Shariah principles of Murabahah (by adopting Tawarruq practice) where based on Wa’d from customers, the Bank will purchase commodities from commodity suppliers and subsequently sell commodities to customers based on Murabahah contract at selling price (commodity cost with profit) by deferred and then, as a customer’s agent, the Bank sells it to third party buyers in cash. Cash proceeds from these third-party buyers will be deposited in the dedicated account to enable customers to make transactions for the purchase of goods or other services.

Privileges

1. Main Features

·   10X Rakyat Rewards points for every RM10 spent for overseas purchases

·   2X Rakyat Rewards point for every RM10 spent for domestic purchases

·   6x complimentary accesses to airport lounges worldwide

·   5% rebate capped at RM1,500 per annum on Airline Ticket, Travel Package, Hotel, and Dining

2. Additional Features:

·   Annual Fee: RM500 (waived with RM40,000 spend a year)

·   Complimentary Mastercard features. Cardholders may view the available features at Mastercard Travel Pass apps/website.

·   Bank Rakyat 0% Instalment Plan with minimum purchase of RM1,000 for instalment tenure 6,12, and 24 months, subject to RM50 minimum monthly payment.

·   FREE Group Family Takaful Coverage and Khairat Kematian RM1,000. Coverage includes guaranteed repayment of outstanding finances accrued through Credit Card-i usage.

·   NO Mark Up charge for transactions in foreign currency.

3. Profit rate under Credit Card-i Tiered Pricing is applicable after 3 years: 

4.      Rakyat Rewards

Overseas Purchases

·   Ten (10) points point is given to cardholder for every RM10 spent. The point would then be converted to cash at the rate of RM1.00 per 10 points.

Domestic Purchases

·   Two (2) point is given to cardholder for every RM10 spent. The point would then be converted to cash at the rate of RM0.20 per 10 points.

·   Rakyat Rewards validity period is confined to 3 years. The rewards earned by cardholders on any date of any month are valid until the end of the same month, for the next 3 years.

5.      Rakyat Rebate

·   The rebate schedule as per below:

Profit rebate earned from Rakyat Rebate will be offset against principal outstanding balance on statement date.

Eligibility:

• Principal: 21 years old and above
  
• Supplementary: 18 years old and above
• Annual Income: RM80,000 above

Documents required:

1. Copy of Identity Card (front and back)/Passport (for Primary/Additional Applicants)

Additional documents refer to the client's type of employment as follows: -

Civil servants:

• Copy of latest salary slip

Private Sector Workers:

• Copy of latest salary slip AND
• Copy of EA form or EPF statement (latest 6 months transaction)

Monthly Salary with Commission:

• Copy of latest salary slip AND
• Income tax form/EPF statement (latest 6 months transaction) OR
• Copy of latest commission statement (6 months record)

No Salary, only based on Commission:

• Copy of annual commission statement (CP58)

Self-employed:

• Copy of business registration AND
• Copy of latest 6 months bank statement AND
• Copy of latest form B AND
• Copy of tax payment receipt

Expatriates:

• Copy of Bank Rakyat Savings account-i AND
• Copy of contract confirmation letter from the employer

Retiree:

• Copy of pension statement (latest 12 months transaction) AND
• Copy of 3 months bank statement (showing the pension amount credit into the account)

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

*Terms and conditions apply.

Frequently Asked Questions (FAQs)

Terms and Conditions