RHB Bank: More Than Just Loans and Credit Cards
RHB Bank today is one of the primary integrated financial services group in Malaysia. Having the vision to further maximize its business in the SEA region, they have already thus far ventured into 10 countries which comprise of Brunei, Laos, Myanmar, Vietnam, and Singapore, amongst others. To make expansion possible, a wide range of products and services have been provided to consumers to provide for both the personal and business needs.
Creating a savings account or a current account happens to be stapled yet underrated. In order to make certain that account holders will benefit the most from their savings, RHB Bank has provided a very competitive interest rate as opposed to other institutions. Additionally, they’ve already improved the transaction facilities by both adding more ATM and CDM machines in branches coupled with other designated locations and also creating an internet-based banking services platform, RHB Now for their customers.
RHB Bank has been monitoring the trend shift with regard to purchasing from using cash too without cash and has seen that it contributed to a greater demand for credit cards. According to the data collected worldwide and nationwide, many people seem to prefer buying online using a credit card every day. Hence, RHB made the best move by making it very easy for potential consumers to apply for credit cards online and take pleasure from a low-interest rate.
Knowing there’s also an urgent need to minimize the gap between supply and demand, the Bank took a further leap forward to provide a value-added credit card scheme that gives cashback and quite a few other benefits the account holder can enjoy whilst they go along the way.
Despite that, RHB Bank realizes the reality that offering credit cards and savings accounts commonly are not enough. Presently, acquiring assets like cars and homes will require lots of people to apply for a good loan scheme. Thus, RHB has reformulated its loan structure with the intention to offer the lowest interest rate as is practicable for many different types of loans. Plus, insurance services, unit trust, and also the financial investment can also be made.
For entrepreneurs and corporations, they’ll be able to engage with RHB Bank for corporate banking facilities. Businesses may apply for business loans when they are interested, plus they may also engage in some other sort of corporate banking facilities. As some businesses requested, RHB Bank also offers online cash management services.
There’s one special class of customers which might reap the most benefits from this: the SMEs. The services offered by RHB Bank is likely to make it possible for them to get more capital to develop their business by making a loan application. Alternatively, SMEs within the e-commerce industry might also subscribe to RHB’s reliable retail solutions.
Nonetheless, RHB Bank still keeps its focus on the highly-demanded Islamic banking facilities. This kind of product is especially demanded in countries like Malaysia. So, they’ve offered Islamic corporate banking, Islamic treasury, unit trust, and wealth management that is made available upon demand by either individuals or businesses.
The Bank’s annual brand value grew at the rate of 24% in 2016, and that makes certain that they are in the top five leagues in Malaysia. With the aim to build and maintain a similar rate of growth over the next several years, RHB Bank is deploying significantly more aggressive campaigns and tactics for the customers.
RHB Bank’s Financial Solutions: Credit Cards and Much More
RHB is today one of the largest banks with integrated financial services in Malaysia. While they plan to further broaden their market, RHB Bank has tapped into Brunei, Indonesia, Singapore, Laos, Vietnam plus some other countries within the South East Asia region. With the knowledge that one of the most efficient ways to compete is simply by giving extra value to consumers, rhb bank has begun offering multiple banking facilities to both individuals and companies.
Individuals and corporations are free to create their savings and current account with RHB Bank suitably and benefit from reasonably competitive monthly interest rates as they transfer money into their accounts. When they intend to make any transactions online, they can easily make use of internet banking services, RHB Now. For conventional transactions, they’re able to access the ATM & CDM machines in addition to MEPS ATM conveniently for withdrawal.
RHB Bank has been monitoring the shift of trend with regard to purchasing from using cash to the cashless method and spotted that this resulted in an increased demand for credit cards. Based on the data collected globally and nationwide, a lot of people apparently prefer shopping on the web by using a credit card every day. Hence, RHB made the best move by making it easy for potential customers to apply for credit cards online and take advantage of a low-interest rate.
Feeling the importance to narrow the gap between demand and supply, RHB Bank goes the extra mile and also has begun offering credit card solutions with a wide range of benefits in contrast to other banks, such as cashback reward for cardholders as they start to buy more using a credit card.
Individuals will in many instances want more than credit cards and savings accounts, and RHB recognizes that well. Presently, many have struggled to get a loan to buy assets such as homes & cars. Hence, the Bank began to come up with a loan plan that benefits both parties with the lowest interest rate for various loan types. In addition to that, individuals can also subscribe to many types of insurance plans and make financial investments together with the Bank.
For business entities, RHB Bank can give an exclusive banking solution. Application for commercial loans and corporate and investment banking are amongst the various types of services available. For interested partners, the might also sign up for the Bank’s asset management services.
Small-medium enterprises are amongst those who’ll benefit from the most benefits. They are really welcomed to apply for loans should capital injection is essential when they scale their businesses. In addition, RHB Bank even offers retails solutions to the appropriate customers, particularly those in e-commerce business.
Despite this, the bank has not ever lost attention to Syariah-compliant financial instruments. This is actually largely due to great demand by the people in Malaysia. Understanding that, banking facilities that follow the minimum Syariah requirement which include Islamic treasury, Islamic corporate banking, unit trust, and wealth management services are now being introduced.
In 2016, the Bank managed to expand the growth of its annual brand value by 24%, which automatically makes them the 4th fastest growing banking industry player in Malaysia. As they definitely anticipate the upcoming year’s financial market potential, RHB Bank has begun strategizing to set-up more generative campaigns in the coming years.
RHB Bank currently is one of the primary integrated financial services group in Malaysia. With the vision to further increase its business within the South East Asia region, they have already so far ventured into 10 countries that cover Brunei, Laos, Myanmar, Vietnam, and Singapore, to name a few. In order to make dominion possible, lots of products and services are generally provided to people to satisfy both business and personal needs.
Online & Offline Banking
One of the most staple kind of services a Bank can provide has always been the savings account and self-banking facilities. RHB Group attracts the general public to set-up savings and current accounts by giving a higher than average interest rates to be enjoyed by members. For maximal convenience to withdraw and deposit money into the account, members can easily locate and use the nearby CDM and ATM machines deployed in branches and other locations easily.
RHB Bank happens to be monitoring the shift of trend in terms of purchase from using cash to the cashless method and observed that this led to a greater interest in credit cards. Based on the information and facts collected worldwide and nationwide, more people apparently prefer to make online purchases using credit card every day. Hence, RHB made the right move by making it easy for potential consumers to apply for credit card online and have the benefit of a low-interest rate.
Feeling the need to narrow the gap between demand and supply, RHB Bank goes further and they have begun offering credit card services with many benefits in comparison to the other banks, which include cashback rewards for cardholders when they start to purchase more using a credit card.
Offline & Online Banking
RHB understands that individuals need more than just savings accounts and credit cards. When buying assets which include cars & homes, most individuals tend to be experiencing struggles to get their personal loan approved. For that reason, they have reformulated their personal financing services that provide very low interest for a wide range of bank
loan. On top of that, unit trust, insurance, and personal financial investment may also be made with the Bank. Cast a glance over RHB’s loan offers at https://www.rhbgroup.com/products-and-services/personal/loans/.
For entrepreneurs and enterprises, they could connect with RHB Bank for corporate banking facilities. Businesses may sign up for commercial loans should they be interested, and in addition, they can likewise engage in other forms of corporate banking facilities. As some businesses requested, RHB Bank even offers online cash management services.
These facilities are especially beneficial for small-medium enterprises, as numerous different kinds of services including loans can be made to inject capital for their businesses. For e-commerce entrepreneurs, retails solutions are essentially the most innovative and beneficial services they may engage with.
, as numerous different kinds of services including loans can be made to inject capital for their businesses. For e-commerce entrepreneurs, retails solutions are essentially the most innovative and beneficial services they may engage with.
Even so, RHB Bank hasn’t ever overlooked the need for Islamic banking facilities. In Malaysia, Syariah-compliant products are highly demanded. Therefore, products and services including wealth management, unit trust, Islamic treasury, and corporate banking are particularly created to ensure that all business transactions follow the Syariah requirement.
In A Word
In 2016, RHB Bank has observed a 24% annual brand value growth, that make them some of the 5 best players in Malaysia. Knowing the full potential of the forthcoming financial market, RHB Bank is prepared with more aggressive strategies in ensuring a constant increase of growth over the next few years.
When you are short on money, one of the options available is to get a personal loan. Did you know some of the top reasons Malaysians apply for a personal loan are for home renovations, medical expenses, and planning for dream weddings?
It may seem to be the solution to many problems; however, there are many things you should consider before getting a loan.
Are you qualified for a personal loan?
To apply for a loan, make sure that you are eligible for one. Some of the basic requirements include:
- being a Malaysian citizen or person with a permanent residence status
- being 21 years old and above
- having a working bank account
- having a regular salary or being a self-employed person
Do note that requirements differ from bank to bank. For example, some banks accept applicants that are 18 years old and older, and conditions might be different if you are a government servant.
What are the interest rates?
In Malaysia, personal loans usually come with a flat interest rate. Essentially, it is the interest charged on the amount of money you borrowed, and you’ll have to pay for the amount that’s calculated at the beginning of the tenure for each year.
For example, you took out an RM10,000 loan at a flat interest rate of 10% per annum. Every year, the interest charges would be RM1,000 until you settle the entire loan.
How does tenure periods affect monthly installments?
Ten years is the maximum tenure, but banks usually offer two to eight years for a loan term. The longer your tenure period, the lower the monthly repayments and higher the interest rate.
Before applying for a loan, make sure you can afford to pay off the monthly repayments. A more extended tenure period might be more suitable if you can’t fork up enough money in a short amount of time.
Early and late repayment fees
There should be an agreement between you and your lenders on time needed to repay your monthly installments.
If you wish to repay your personal loan earlier than the agreed term, there’s usually a fee charged around two to three percent of the outstanding loan balance at the time of the full repayment.
You may also be charged if you can’t afford to repay your loan in time. The bank can also deduct your credit balance from your account, take legal action against you, or repossess the asset you set as collateral if you applied for a secured loan.
A personal loan might be a tempting choice when you’re short on cash, but be sure to be responsible and consider all the points before applying for a loan.
Visit https://www.rhbgroup.com/products-and-services/personal/loans now to get a loan today.