1. What is the RHB Personal Loan Payment Formula?

The RHB personal loan payment formula calculates the fixed monthly payment required to repay a loan over a specified term. It accounts for the principal amount, annual interest rate, and loan duration.

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 (loan term in months)
• \( PMT \) — Monthly payment amount (MYR)

Explanation: The formula calculates the fixed payment that covers both principal and interest each month, resulting in full loan repayment by the end of the term.

3. Importance of Loan Calculation

Details: Understanding your monthly payment helps with budgeting and ensures the loan is affordable. It also shows the total interest cost over the loan term.

4. Using the Calculator

Tips: Enter the principal amount in MYR, annual interest rate (without % sign), and loan term in months. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the typical interest rate for RHB personal loans?
A: RHB personal loan rates typically range from 3.5% to 18% per annum, depending on credit profile and loan terms.

Q2: What is the maximum loan term available?
A: RHB personal loans typically offer terms from 1 to 10 years (12 to 120 months).

Q3: Are there any processing fees?
A: RHB may charge a processing fee (typically 1-3% of loan amount) and other administrative fees.

Q4: Can I make early repayments?
A: Yes, but early settlement fees may apply. Check with RHB for current terms.

Q5: How accurate is this calculator?
A: This provides an estimate. Actual payments may vary slightly due to rounding and specific bank policies.