Bank Rakyat World Mastercard Credit Card-i

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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:

Tier	Criteria	Yearly Profit Rate
Tier 1 : Minimum payment received before or on the Due Date for 9 months consecutively.	Non-Bank Rakyat Share Member	13.5%
	Bank Rakyat Share Member	13.0%
Tier 2 : Minimum payment received before or on the Due Date for 9 months or more within 9 months period.	Non-Bank Rakyat Share Member	17%
	Bank Rakyat Share Member	15.5%
Tier 3 : Does not meet the above conditions for Tier 1 and Tier 2.	Non-Bank Rakyat Share Member	18%
	Bank Rakyat Share Member	17%

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 RM0.10 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 RM0.02 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:

Items	Year 1	Year 2	Year 3
Auto debit facility	0.5%	0.5%	0.5%
Good paymaster	1.0%	1.0%	1.5%
Other financing facilities at Bank Rakyat	0.5%	1.0%	1.0%
Total Rebate (Rakyat Rebate)	2.0%	2.5%	3.0%