Financial Payment Assistance

Financial Payment Assistance Programs

Bank Rakyat is committed to providing Shariah-compliant financial assistance solutions to help customers manage their financial obligations ethically and responsibly. All our assistance programs are designed to meet customer needs fairly and transparently, in line with Islamic values.

Financing Rescheduling

Financing rescheduling allows customers to extend their payment period, reduce monthly installments, and ease their financial burden.

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Agensi Kaunseling dan Pengurusan Kewangan (Credit Counselling and Debt Management Agency) (AKPK) Referral

Financial counseling and debt restructuring services by AKPK are provided to help customers manage debts responsibly

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Payment Deferment

Payment deferment allows customers facing financial hardship or emergencies to temporarily pause financing payments, with all arrangements remaining Shariah-compliant.

Flood Assistance Info

Contact Information

Phone

Call Telerakyat:
1-300-800-800

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Nearest Bank Rakyat Branch / Recovery Centre

Step 1: Establish Eligibility

Demonstrated financial hardship or unexpected emergency
Proof of income loss or critical financial circumstances
Commitment to resume payments when able

Step 2: Submit Application

Contact Bank Rakyat Collections Department
Complete Payment Deferment Request Form
Submit supporting documentation and explanation

Step 3: Assessment & Review

Bank assesses your circumstances (3-5 business days)
Determines appropriate deferment period (typically 3-6 months)

Step 4: Payment Deferment Period

Payments are paused for approved period
Profit continues to accrue

Step 5: Resumption & Support

After deferment period, regular payments resume with your readiness
Bank Rakyat may offer revised payment schedule or additional counseling if needed

Frequently Asked Questions

What is the maximum deferment period?

Bank Rakyat typically allows payment deferment for 3-6 months depending on your circumstances. For disaster-affected customers, deferment can extend up to 6 months. Extensions beyond this period require special consideration and management approval.

Will deferment affect my credit score?

Payment deferment is typically reported to credit bureaus as a temporary arrangement. While this may temporarily affect your credit score, it demonstrates responsible financial management during hardship.

How much profit will accrue during deferment?

Profit continues to accrue during the deferment period in accordance with Shariah principles. The accrued profit will be added to your outstanding balance. Your loan tenure may be extended to accommodate the deferred payments and accrued profit.

Can I request deferment due to disaster or emergency?

Yes. Bank Rakyat offers special payment deferment programs for customers affected by natural disasters such as floods and other emergencies. Eligible customers can defer payments for up to 6 months. For comprehensive details about disaster relief programs, please refer to the Flood Assistance Info link on the Loan Rescheduling card.

Is payment deferment Shariah-compliant?

Yes, our payment deferment program is fully Shariah-compliant and has been approved by our Islamic Advisory Panel. It upholds the principles of Maslahah (public interest) and Takaful (mutual protection and compassion) in providing relief during genuine financial hardship.