1. What is EMI?

EMI (Equated Monthly Installment) is the fixed payment amount a borrower pays to a lender each month for a motor loan. It includes both principal and interest components.

2. How EMI Calculation Works

The calculator uses the standard EMI formula:

Where:

• \( P \) — Loan principal amount (MYR)
• \( r \) — Monthly interest rate (annual rate divided by 12)
• \( n \) — Loan tenure in months

Explanation: The formula calculates the fixed monthly payment that will completely pay off the loan (principal + interest) over the loan term.

3. RHB Motor Loan Features

Details: RHB Bank Malaysia offers competitive motor loan rates with flexible repayment tenures up to 9 years. Interest rates typically range from 2.5% to 4.5% depending on vehicle type and loan tenure.

4. Using the Calculator

Tips: Enter loan amount in MYR, annual interest rate (without % sign), and loan tenure in years (1-9). The calculator will show monthly EMI, total repayment amount, and total interest payable.

5. Frequently Asked Questions (FAQ)

Q1: What is the maximum loan tenure for RHB motor loans?
A: RHB offers maximum 9 years (108 months) repayment period for motor loans.

Q2: Are there any processing fees?
A: RHB typically charges a processing fee of about 1% of loan amount, with minimum MYR 100.

Q3: Can I get 100% financing?
A: For new cars, maximum financing is usually 90%. Used cars may have lower financing percentages.

Q4: How does early settlement affect my loan?
A: Early settlement may incur a penalty (usually 2-3% of outstanding amount) but saves on future interest.

Q5: What documents are needed to apply?
A: Typically requires IC, driving license, 3 months payslips, and vehicle registration details.