1. What is the RHB Personal Loan Calculator?

The RHB Personal Loan Calculator helps you estimate your monthly payments for personal loans from RHB Bank Malaysia. It uses the standard loan amortization formula to calculate your monthly obligations based on principal amount, interest rate, and loan term.

2. How Does the Calculator Work?

The calculator uses the loan payment formula:

Where:

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

Explanation: The formula accounts for both principal and interest components of each payment, with interest being front-loaded in the early payments.

3. Importance of Loan Calculation

Details: Understanding your monthly payment helps with budgeting and ensures the loan is affordable. It also helps compare different loan offers to find the best deal.

4. Using the Calculator

Tips: Enter the loan amount in MYR, annual interest rate (RHB's current rates), and loan term in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What are RHB's current personal loan rates?
A: Rates vary based on credit profile, typically ranging from 4% to 18% annually. Check RHB's website for current offers.

Q2: Are there any other fees besides interest?
A: RHB may charge processing fees (typically 1-3% of loan amount) and insurance. These are not included in this calculation.

Q3: What is the maximum loan term with RHB?
A: RHB typically offers personal loans with terms from 1 to 10 years (12 to 120 months).

Q4: Can I pay off my loan early?
A: Yes, but early settlement fees may apply. Check with RHB for their current early settlement policy.

Q5: How accurate is this calculator?
A: This provides a close estimate, but actual payments may vary slightly due to rounding or specific bank policies.