1. What is Bank Rakyat Personal Loan?

Bank Rakyat offers special personal loan packages for government employees with competitive interest rates and flexible repayment terms. These loans are designed to meet various financial needs of civil servants.

2. How Does the Calculator Work?

The calculator uses the standard loan payment formula:

Where:

• \( P \) — Principal loan amount (MYR)
• \( r \) — Monthly interest rate (annual rate ÷ 12)
• \( n \) — Number of monthly payments
• \( PMT \) — Monthly payment amount (MYR)

Explanation: The formula calculates the fixed monthly payment required to fully repay the loan over the specified term, including interest.

3. Benefits for Government Employees

Details: Government employees typically enjoy lower interest rates, longer repayment periods, and easier approval processes compared to standard personal loans.

4. Using the Calculator

Tips: Enter the loan amount in MYR, annual interest rate in percentage, and loan term in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What interest rates do government employees get?
A: Rates are typically 1-3% lower than standard personal loans, often around 4-6% per annum.

Q2: What is the maximum loan amount?
A: Government employees can usually borrow up to 10 months' salary or MYR 150,000, whichever is lower.

Q3: What is the maximum repayment period?
A: Up to 10 years (120 months) for government employees, compared to 5-7 years for others.

Q4: Are there any special requirements?
A: Must be confirmed government employee with minimum 6 months service. Salary deduction (potongan gaji) is usually required.

Q5: How accurate is this calculator?
A: It provides estimates. Actual payments may vary slightly due to rounding or specific bank policies.