RHB Bank’s Credit Card Online & Related Products & services
Up to date, RHB Bank is amongst the main competitors in the Malaysian finance and banking niche. Wanting to grow the horizon within the SEA region, the company has laid its foundation in countries that include Brunei, Hong Kong, Indonesia, Laos, and Singapore. In making certain that the business organization is scalable, RHB introduced a diversity of banking facilities to enterprises and individuals for personal and commercial needs.
Individuals and firms have the freedom to start up their savings and current account with RHB Bank conveniently and benefit from competitive interest rates as they transfer money into their bank account. Whenever they have any transactions online, they are able to easily to use internet banking services, RHB Now. For offline transactions, they’ll be able to access the ATM & CDM machines as well as MEPS ATM easily for withdrawal.
The shift from the traditional purchasing method using cash to cashless methods has also increased the demand from customers for credit cards. As verified in the data from many types of research conducted, the acceptance towards the e-payment method from the public is showing dramatic growth. Hence, credit cards are gaining interest as cardholders make purchases online without troubles.
Knowing there’s also an urgent need to reduce the gap between supply and demand, the Bank took an extra leap forward to offer value-added credit card services that give cashback and quite a few other benefits the account holder can also enjoy when they use it to make purchases.
RHB Bank is familiar with the fact that possessing a savings account and credit card is insufficient to fulfill an individual’s financial needs. It’s very clear that usually, individuals need to apply for loans with the bank to own high-value assets, for instance, properties and automobiles. Therefore, RHB has made an available low-interest rate for quite a few different types of loans. Customers who wish to go the extra mile are also able to subscribe to the insurance plan and buy unit trusts from RHB Group.
For entrepreneurs and corporations, they can connect with RHB Bank for corporate banking facilities. Businesses may make an application for commercial loans when they are interested, and they are also able to engage in some other sort of corporate banking facilities. As some businesses requested, RHB Bank offers online cash management services.
There certainly is one special class of customers which may reap the most advantages from this: the small-medium enterprises. The products offered by RHB Bank will make it possible for these business owners to get more capital to grow their business by making an application for the loan. In addition, SMEs in the e-commerce industry can even sign up for RHB’s effective retail solutions.
However, RHB Bank still keeps its focus on the highly-demanded Islamic banking facilities. Such type 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 enterprises.
In 2016, RHB Bank has observed a 24% annual brand value growth, which makes them on the list of 5 best players in Malaysia. Knowing the full potential of the long term financial market, RHB Bank is prepared with more aggressive strategies in ensuring a consistent increase of growth within the years to come.
RHB Bank to inflate Financial growth Within South East Asia Market
RHB Bank is now one of the biggest integrated financial services group in Malaysia. With the vision to further expand its market share within the South East Asia region, they’ve already to date ventured into 10 countries which covers Brunei, Laos, Myanmar, Vietnam, and Singapore, as well as others. In order to make expansion achieveable, a wide variety of service continues to be provided to customers to provide for both personal and business needs.
Individuals and businesses have the freedom to start up their savings and current account with RHB Bank conveniently and get competitive monthly interest as they deposit money in their account. Whenever they need to make any transactions online, they’re now able to easily utilize the internet banking services, RHB Now. For conventional transactions, they could access the ATM & CDM machines in addition to MEPS ATM quickly for withdrawal.
RHB Bank happens to be monitoring the shift of trend with regard to purchase from using cash to cashless method, and discovered that this triggered an increased demand for credit cards. Based upon the information and facts collected worldwide and nationwide, a lot more people appear to prefer shopping on the web by using credit card everyday. Hence, RHB made the right move by making it relatively easy for customers to apply credit card online and enjoy a low interest rate.
This is when unique offering comes into the picture, as a number of advantages are offered to RHB Bank credit card holders, like cashback reward as well as other value-added rewards that gives higher return as the card holder spend more.
RHB understands that individuals demand more than just savings accounts and credit cards. When acquiring assets such as cars & homes, most of the people have been struggling to get their personal loan approved. Subsequently, RHB improvised their personal financing services which offers minimal interest to get a wide range of loan product. On top of that, unit trust, insurance, and personal financial investment could also be made with the Bank.
For enterprises and entrepreneurs, corporate banking facilities will also be available. They could take business loan or maybe even engage with RHB for corporate & investment banking. Aiming to be certain that their products and services are the very best, RHB also has offered online cash management and asset management services.
There certainly is one special category of customers which may reap out the most benefits from this: the small-medium enterprises. The products offered by RHB Bank is going to make it possible for them to get more capital to develop their business by making loan application. Furthermore, SMEs within the e-commerce industry can likewise sign up for RHB’s effective retail solutions.
Nonetheless, the demand for Islamic banking facilities has not been overlooked, specifically when there’s high demand for Syariah-compliant products and services in the Malaysian market. For this reason, the Bank makes certain that products which observe the Syariah requirement, for example Islamic wealth management services, Islamic treasury, corporate banking, and also unit trust are offered.
In 2016, RHB Bank have seen a 24% annual brand value growth, which make them on the list of top five players in Malaysia. Knowing full potential of the future financial market, RHB Bank is prepared with a lot of aggresive strategies in ensuring a consistent increase of growth covering the next several years.
So far, RHB Bank is considered among the main competitors in Malaysian finance and banking niche. Endeavoring to grow the horizon within SEA region, the company has laid their foundation in countries that include Brunei, Hong Kong, Indonesia, Laos, and Singapore. In guaranteeing that the organization is scalable, RHB brought out a diversity of banking services to business owners and individuals for personal and commercial needs.
RHB Bank’s Credit Card Online & Many Other Products and Services
ATM & CDM VS Online Internet Banking
Setting up a current or savings account by individuals and businesses is obviously imperative. To attract smart consumers, RHB Bank has offered a viable interest rate members will enjoy by merely depositing money into their respective accounts. While they provide traditional transaction facilities through ATM and CDM, the Bank had also launched RHB Now, their online banking facilities to promote efficiency.
The shift from traditional purchasing method using cash to the cashless method has increased substantially the market demand for credit cards. As proven beyond doubt in the statistics from many studies conducted, the acceptance towards e-payment method from the public is showing dramatical growth. Hence, credit cards are gaining popularity as cardholders can really make an online purchase without trouble. Some more, we can now apply credit card online!
RHB Bank knows that it’s fundamental to minimize the visible difference between supply and demand. Thereby, they also have formulated an interesting credit card plan which provides value that includes cashback rewards that multiply just as more transactions are being made by cardholders in the future.
RHB understands that individuals need more than only savings accounts and credit cards. When buying assets like cars and homes, a lot of people have been finding it difficult to get their personal loan approved. So, RHB Group improvised their personal financing services which offer minimal interest for the wide range of loan. Aside from that, unit trust, insurance, and personal financial investment might also be made with the Bank.
For businessmen and organizational entities, RHB Bank is providing corporate banking facilities. They’re able to engage with the Bank either for investment banking or even to make the business loan. Generally, if the consumers are interested, they can even sign up for RHB Bank’s online cash management services.
Small-medium enterprises are some of those who will benefit from the most benefits. They’re welcomed to apply for loans should capital injection is required as they start to scale their businesses. Aside from that, RHB Bank even provides retails solutions to the relevant customers, particularly those in the e-commerce business.
Nonetheless, RHB Bank has not overlooked the demand for Islamic banking facilities. In Malaysia, Syariah-compliant offerings are highly demanded. Therefore, products or services such as wealth management, unit trust, Islamic treasury, and corporate banking are specially formulated to ensure that all transactions follow the Syariah requirement.
RHB Bank has seen a 24% annual brand value increase in 2016 which automatically places them in the top five positions for banks in the country. In anticipation towards the upcoming market growth, the Bank has begun strategizing a much more proactive approach to keep their growth rate steady for a long period. Visit the website to learn more https://www.rhbgroup.com/
Other than conventional credit cards, Malaysians have the option to own an Islamic credit card. Also known as credit card-i, it is a card that follows the concept of Islamic banking. For non-Muslims who prefer banking governed by the Islamic law, these credits cards are available for them as well.
You might wonder, what’s the difference between a conventional credit card and an Islamic credit card? Find out the difference by reading this article!
Credit card-i is to follow the strict standards of the Islam known as Shariah. In general, it means users can only use Islam credit cards in halal transactions. For example, gambling and buying cigarettes are prohibited.
A filtering system exists for Islamic cards to restrict users from getting involved in unlawful activities according to the Islamic law.
The prohibition of gharar, which means overcharging, and riba, which means interest, is what makes a credit card Islamic. Any Islamic credit card holder is not supposed to pay for interest or receive interest.
To compensate the bank for not paying interest, Islamic credit card users are charged for a service called ‘profit charge.’ If they don’t pay the outstanding amount within the grace period, they will be charged.
Islamic credit cardholders typically have to make a monthly repayment of 5% on their bills. If you pay them in time consistently, you can enjoy a lower profit rate charge and rise to a higher tier.
Privileges and benefits
The perks of an Islamic credit card is different from a conventional credit card. For example, a credit card-i usually offers takaful coverage and benevolence expenses. In the event of a deceased credit card user, the bank will offer benevolence expenses to cover some or the entire outstanding balance.
Besides that, Islamic credit cards provide the convenience of paying Zakat to Muslims.
Other Shariah concepts
In Arabic, Ujrah means fees. Islamic banks use this concept when in exchange for a service, benefits or privileges, a fee is charged instead of interest.
Another concept, Tawarruq, is when there is a transfer of ownership of a tangible asset from a seller to a buyer. The bank will provide aid to purchase a said asset, and the customer will repay the bank through the means of an Islamic credit card.
And there you go! These are some of the differences between a conventional credit card and an Islamic credit card.
Muslims or non-Muslims who prefer the Islamic way of banking can always apply for a credit card-i at https://www.rhbgroup.com/products-and-services/personal/islamic/cards/credit-cards.