Industrial Hire Purchase & Hire Purchase
Giving you what you need to succeed
Overview
Mainly refers to financing the acquisition of equipment and machinery for use in business and industries.
| Eligibility |
- Registered businesses and professionals
- Equipment and machineries of good resale values and resaleability
- Sound financial position with positive repayment capacity
- Viable businesses with proven track record and the ability to meet their financing obligations
|
| Financing Tenure |
In general, tenure of financing is between 18 to 60 months. Longer tenure may be considered on a case-to-case basis. |
| Financing Amount |
Minimum size of each application shall be RM 50,000 |
| Margin of Finance |
- For Industrial Hire Purchase – Up to 99.9% of cost (with nominal deposit)
- For Hire Purchase (Scheduled Goods e.g. Buses & Taxis) -Up to 90% of cost
|
| Interest rate |
Please refer to our Asset Based Finance Centres for the latest rates offered |
| Type of Equipment |
- Productive equipment and machineries for registered business entities
- Machineries, industrial equipment and commercial vehicles
- General purpose equipment with good resale values and readily available market for disposal
- Equipment must have good title and are free from any encumbrances
- Equipment financed must be solely used in Malaysia
|
| Illustration |
- Cost of equipment: RM100,000.00
- Deposit :RM20,000.00
- Net Amount Financed: RM80,000.00
- Interest rate: 3.50% fixed rate per annum
- Effective yield: 6.44% per annum
- Tenure: 5 years
- Prepaid instalments : 1 month
- Repayment:
- 60 monthly instalments of RM1,567.00 per month
- Final instalment of RM1,547.00 per month
- The total rent instalments you must pay back is
RM94,000-00.
|
| Documents Required |
- Application and guarantors’ proposal forms (if applicable)
- Certified true copy of Forms 24, 44, 49, and latest annual return.
- Memorandum & Articles of Association
- Certificate of Incorporation for Limited Company
- Business registration form for partnership and sole proprietorship
- Performa invoice, quotation, sales order and catalogue on proposed equipment
- Latest 6 months bank statements
- Latest 3 years financial statements
- Latest 3 years income tax assessments for sole proprietorship and partnership if available
- Projection papers (for new setup business)
- Other support documents to support the application
|
| Major Risk on This Product |
The interest rate on this loan is fixed and remains unchanged for the whole tenure of the loan |
| Preferred Panel Lawyers |
Our panel lawyers are preferred and available upon request
|
| Preferred Insurance Company |
RHB Insurance Bhd
|
| Convenient Payment Channels |
- Extensive Branch Network
- RHB Bank Cheque Deposit Terminals
- Interbank GIRO
- Bank Standing Instruction
|
