RHB Bank Group is the leading bank in Malaysia, offering a wide range of financial and service products that are simple, fast, and seamless for customers. The most notable achievement is RHB Banking’s presence in 9 ASEAN countries. There are 278 RHB branches in Malaysia, with their main headquarter located at RHB Centre, Jalan Tun Razak, 50400 Kuala Lumpur.
What is a home loan?
A home loan is a sum of money that you apply for or borrow from a bank to assist you in purchasing your dream home. Each loan will be charged an interest rate determined by the loan amount and the repayment period. So, keep in mind that each bank will have a different interest rate, and you should do some research before applying for a home loan.
What type of home loan does RHB Bank offer?
RHB provides 2 types of home loans:
My1 Full Flexi Home Loan
Skim Rumah Pertamaku
Standard Package
General Package
Step Up Package
What should I know before applying for a home loan?
Interest rates
You must be aware of the interest rates that the bank will charge you, either fixed interest rates or variable rates.
Type of loan
In Malaysia, there are 3 types of loans offered: term loan, semi loan, or flexi loan.
Lock-in period
Knowing the lock-in period is crucial because it often occurs when there is a sudden need for full settlement, refinancing, or selling your property.
Margin of finance
You must understand your margin of finance, which is the amount of money that a bank will allow you to borrow for your loan and how much cash/ upfront you must pay for the property.
Fees
The fees include legal fees, stamp duty charges, late payment fees, early settlement fees, and others.
Type of bank
The bank you have chosen to apply for a home loan with, as different banks offer different loan amounts, terms, etc. Choose a bank where you are comfortable applying for a home loan.
Who is eligible to apply for RHB home loans?
My1 Full Flexi Home Loan
18 years old and above
Individual or joint application is allowed
Skim Rumah Pertamaku
Malaysian citizen
An employee of the public and private sectors
First-time homebuyer with an occupant
Individual or joint application is allowed
Maximum monthly gross household income:
Individual: RM5,000
Joint: RM10,000
Property that has been completed or is still under construction
Property in Malaysia from the primary or secondary market
Why should I choose RHB home loans?
It provides a variety of home loan financing options to suit your needs
Flexibility to withdraw on excess payments anytime you want
No additional charges
High margin up to 100% + 10%* (MRTA only) financing*
Loan tenure up to 35 years, or until you reach the age of 70, whichever comes first*
*Depending on the selected home loan.
Who should I contact for further information about RHB home loans?
For more information or assistance with RHB home loans,
Contact RHB Bank at 1-300-22-0007
Email them at rhbi.general@rhbgroup.com
Visit an RHB Bank branch near you
What are the documents required for RHB home loans?
My1 Full Flexi Home Loan
Salaried employee
Copy of NRIC/ passport
Latest 3/6-month salary slip*
Latest 3/6-month salary crediting statement*
Latest EPF statement
Latest BE Form and tax payment receipt
Sale and Purchase Agreement/ booking receipt
*If your income has variable components, the bank may require up to 6 months of income statements.
Self-employed
Copy of NRIC/ passport
Sole proprietor and partnership: A and D Form
Private Limited: 24 and 49 Form
Latest B Form and tax payment receipt
Latest 6-month Current Account statement
Sale and Purchase Agreement/ booking receipt
Skim Rumah Pertamaku
Salaried employee
Copy of NRIC/ passport
Latest 3/6-month salary slip*
Latest 3/6-month salary crediting statement*
Latest EPF statement
Latest BE Form and tax payment receipt
Sale and Purchase Agreement/ booking receipt
Certificate completion of AKPK online financial literacy course (only required for Standard Package)
*If your income has variable components, the bank may require up to 6 months of income statements.
Self-employed
Copy of NRIC/ passport
Latest EPF statement
Sole proprietor and partnership: A and D Form
Private Limited: 24 and 49 Form
Latest B Form and tax payment receipt
Latest 6-month Current Account statement
Sale and Purchase Agreement/ booking receipt
Self-declaration of gross monthly household income
Certificate completion of AKPK online financial literacy course (only required for Standard Package)
What are the fees included in RHB home loans?
Stamp duty
As per the Stamp Duty Act 1949 (Revised 1989).
Late payment fee
1% of the amount arrears.
Early settlement fee
1% within a 3-year retention period.
Processing fee
None.
Withdrawal fee
None.
Redemption letter fee
RM50 per request.
Letter for EPF withdrawal fee
RM20 per request.
Cancellation fee
1% penalty will be applied to the total approved amount.
What are the common terms of home loan?
Lock-in period
A period during which you will be penalised if you pay off your home loan earlier than agreed. The fine ranges from 2% to 5% of the total amount.
Margin of Finance (MOF)
The amount of money that a bank will lend you for your loan determines how much cash you must pay upfront for the property.
Interest rates
It is the amount of money you paid to the bank in addition to the principal amount.
Valuation
An estimate of the property’s worth and the stamp duty is calculated based on its value.
Base rate
The base rate is the interest rate charged by Bank Negara Malaysia to commercial banks for loans.
Base Lending Rates (BLR)
A rate set by each bank based on the cost of borrowing the money to be lent to borrowers.
Refinancing
Repaying an existing loan and replacing it with a new one with new terms and conditions.
