1. What is RHB Personal Loan?

RHB Bank Malaysia offers competitive personal loans with flexible repayment terms. Their loans are among the cheapest options in Malaysia, with interest rates typically lower than credit cards and other financing options.

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 divided by 12)
• \( n \) — Number of monthly payments
• \( PMT \) — Monthly payment amount (MYR)

Explanation: The formula calculates the fixed monthly payment required to fully repay a loan over its term, including both principal and interest components.

3. Importance of Loan Calculation

Details: Understanding your monthly payment helps with budgeting and ensures the loan is affordable. Comparing total interest costs helps evaluate different loan options.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

Q1: What makes RHB personal loans among the cheapest?
A: RHB offers competitive interest rates, often lower than industry average, with transparent fee structures.

Q2: What is the typical interest rate for RHB personal loans?
A: Rates vary but typically range from 5% to 15% annually, depending on credit profile and loan terms.

Q3: What is the maximum loan term available?
A: RHB offers terms up to 10 years (120 months) for certain loan products.

Q4: Are there any processing fees?
A: RHB may charge a processing fee (typically 1-3% of loan amount) and other administrative fees.

Q5: Can I settle the loan early?
A: Yes, but there may be early settlement fees. Check with RHB for current policies.