Cikgu Sejati Credit Card-i

What makes this card Islamic

Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat) builds this card on a Murabahah + Tawarruq contract. The bank buys the thing you want, then sells it to you at a stated cost plus a stated profit, payable later.

Bank Rakyat states a single Shariah structure for the whole Credit Card-i range: Murabahah adopting the Tawarruq practice, initiated by a Wa'd (promise) from the customer. The bank buys a commodity from a supplier, sells it to the customer on Murabahah at a deferred selling price, then as the customer's agent sells it to a third-party buyer for cash, which is credited to a dedicated account the customer spends from. No bai' al-inah is named anywhere in the 1 June 2026 PDS or on any product page checked.

Approved by Shariah Committee of Bank Kerjasama Rakyat Malaysia Berhad, under the supervision of Not a licensed Islamic bank under IFSA 2013. Bank Rakyat is a co-operative society: its own site states it was 'established on 28 September 1954 under the Cooperative Ordinance 1948 (known as the Cooperative Societies Act 1993)'. It is commonly described as a scheduled/prescribed development financial institution under Bank Negara Malaysia oversight with co-operative supervision by Suruhanjaya Koperasi Malaysia under the Ministry of Entrepreneur Development and Cooperatives - that split was NOT verified against a BNM or SKM primary source in this session (BNM's DFI and Islamic-bank directory tables are JavaScript-rendered and returned no rows to a scripted fetch), so treat the BNM/SKM attribution as UNVERIFIED. What is verified: the Credit Card-i PDS dated 1 June 2026 routes all complaints to Bank Rakyat's own Card Centre and Contact Centre and contains no BNMLINK referral, unlike BSN's PDS which does..

What it costs

Every figure below comes from Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat)’s own published documents. Where the bank does not publish a number we say so rather than estimate it.

Annual fee

RM 388Waived without conditionsource

Supplementary card

RM 150Waived without condition per the PDS note on this fee table.source

Profit rate

13.5% a yearBank Rakyat prices retail profit on a three-tier payment-history structure, not a single rate, and publishes no separate contractual 'ceiling' rate with an ibra' rebate down to it. Non-member rates: Tier 1 13.5% p.a. / Tier 2 17.0% p.a. / Tier 3 18.0% p.a. Bank Rakyat share-member rates are lower: Tier 1 13.0% / Tier 2 15.5% / Tier 3 17.0%. Tier 1 = minimum payment received on or before the due date for 9 consecutive months; Tier 2 = minimum payment on time for 6 or more months within a 9-month period; Tier 3 = anything else. The effective 13.5% recorded here is the best-case non-member rate; 18.0% p.a. is the maximum (Tier 3, non-member) and functions as the ceiling. Cash withdrawal is charged 18% p.a. calculated daily from the transaction date until full payment. Tiered pricing does not apply to Bank Rakyat staff. No monthly retail profit rate is published. The Cikgu Sejati page adds that tiered pricing applies only after 3 years, and that the separate Bank Rakyat 8%.GOV.MY programme (8%/9%/10% p.a. by outstanding-balance tier) ended in August 2024.source

Cash withdrawal

Bank Rakyat ATM/counter: 3% of the withdrawal amount or RM20, whichever is higher (RM20 flat up to RM666). Other banks' ATM/counter: 5% or RM20, whichever is higher (RM20 flat up to RM400). Subject to 8% service tax.

Late payment

Compensation charge (ta'widh) of 1% p.a. on the outstanding balance, minimum RM10 and maximum RM100, imposed if the minimum payment is not received by the 4th day after the due date or is less than 5% of the outstanding balance. Not compounded.Compensation charge (ta'widh) of 1% p.a. on the outstanding balance, minimum RM10 and maximum RM100, imposed if the minimum payment is not received by the 4th day after the due date or is less than 5% of the outstanding balance. Not compounded.

Over limit

RM 0

Foreign currency spend

0% on top of the exchange rate

Replacement card

RM 50

Takaful cover

Free Group Family Takaful coverage and 'Khairat Kematian' (death benefit) of RM1,000, included at no stated cost. Coverage includes guaranteed settlement of the outstanding financing accrued through Credit Card-i usage. Bank Rakyat states 65 is the maximum applicant age because it is the takaful coverage age limit.

What you get back

• 5% cashback on transactions at petrol stations, stationery shops, bookstores and hotels
• 1 Rakyat Rewards point per RM10 spent, converted to cash at RM0.10 per 10 points
• Rakyat Rebate: total 2.0% year 1, 2.5% year 2, 3.0% year 3

Other benefits

• Exclusive card for Ministry of Education teachers
• No mark-up rate for overseas transactions
• 0% instalment plan for retail purchases of RM1,000 and above
• Free Group Family Takaful coverage and Khairat Kematian of RM1,000

Before you apply

• RM25 government service tax per year on the principal card and a further RM25 on each supplementary card is charged to the cardholder, not absorbed by the bank.
• The 13.5% p.a. headline rate is Tier 1 only. Missing the minimum payment enough times drops you to Tier 3 at 18.0% p.a. (17.0% for Bank Rakyat share members).
• Cash withdrawals are charged 18% p.a. calculated daily from the transaction date with no profit-free period, on top of the 3%/5% withdrawal fee.
• Transactions at non-halal merchants will be declined.
• The PDS states the compensation charge as 'minimum RM10, maximum RM100, whichever is lower', which is internally contradictory wording; treat RM10 as the floor and RM100 as the cap.

Can you get it?

Age

21 and over

Other conditions

Principal 21 years old and above; supplementary 18 years old and above. Exclusive to teachers under the Ministry of Education (MOE). The bank states the income requirement annually: 'Annual Income: RM24,000 above'. No monthly figure is published, so min_monthly_income is left null.

What to have ready

• Copy of identity card (front and back) or passport, for principal and supplementary applicants
• Government servants: copy of latest pay slip
• Private sector employees: copy of latest pay slip AND EA form / EPF statement (latest 6 months)
• Commission-based: latest commission statement (6 months, or 12 months if no basic pay)
• Self-employed: business registration, latest 6 months bank statements, latest Form B, tax payment receipt
• Pensioners: pension statement (latest 12 months) and 3 months bank statements showing the pension credit

Where these figures come from

Last checked against Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat)’s published documents on 2026-08-17. Banks change fees without notice, so treat the bank’s own document as the final word, not this page.

• “Bank Rakyat Credit Card-i is a MasterCard Credit Card-i, with a financing limit granted by us to you where if the financing limit which has been utilized but has not been fully settled before the due date will be subject to profit charges. - PDS Credit Card-i (English), 1 June 2026, s.1(a)”
• “The financing facilities are under the Shariah principles of Murabahah (by adopting Tawarruq practice) where based on Wa'd from customers, the Bank will purchase commodities from commodity suppliers and subsequently sell commodities to customers based on Murabahah contract at selling price (commodity cost with profit) by deferred and then, as a customer agent, the Bank sells it to third party buyers in cash. - PDS Credit Card-i (English), 1 June 2026, s.1(b)”
• “If you choose to pay only the minimum RM50 by the 26th May 2026, you will be charged profit at 13.5%/17%/18% p.a. (based on payment history) on your outstanding balance. - PDS Credit Card-i (English), 1 June 2026, s.2”
• “Tier 1: Minimum payment received before or on the Payment Due Date for 9 consecutive months. Retail 13.5% Non-Bank Rakyat Member / 13.0% Bank Rakyat Member - PDS Credit Card-i (English), 1 June 2026, s.2”
• “Tier 3: Does not meet the above conditions for Tier 1 and Tier 2. 18.0% Non-Bank Rakyat Member / 17.0% Bank Rakyat Member - PDS Credit Card-i (English), 1 June 2026, s.2”
• “Cash Withdrawal 18% is calculated daily from the date of the transaction until the date of full payment. - PDS Credit Card-i (English), 1 June 2026, s.2”
• “A compensation charge of 1% p.a. on the outstanding balance (minimum RM10, maximum RM100, whichever is lower) will be imposed if minimum payment is not received by the 4th day after due date or is less than 5% of the outstanding balance. This charge is not compounded. - PDS Credit Card-i (English), 1 June 2026, s.3(a)”
• “Cash withdrawal via Bank Rakyat ATM or counter, will be charged a fee of 3% on the total cash withdrawal amount or RM20 whichever is higher. Cash withdrawal via other bank ATM or counters, a 5% fee will be charged on the total cash withdrawal amount, or RM20 whichever is higher. - PDS Credit Card-i (English), 1 June 2026, Fees and charges item 2”
• “RM50 for every replacement of Bank Rakyat Credit Card-i. - PDS Credit Card-i (English), 1 June 2026, Fees and charges item 5”
• “7. Over Limit Excess: None - PDS Credit Card-i (English), 1 June 2026, Fees and charges item 7”
• “8. Service Tax (Credit Card-i) Primary (RM) 25.00 Supplementary (RM) 25.00 - PDS Credit Card-i (English), 1 June 2026, Fees and charges item 8”
• “The currency conversion for overseas transaction are determined by MasterCard International on the date the transactions are received and/or processed by Bank Rakyat. - PDS Credit Card-i (English), 1 June 2026, Fees and charges item 6”
• “Cikgu Sejati 388 150 - PDS Credit Card-i (English), 1 June 2026, annual fee table”
• “5% cashback on transactions at petrol station, stationery, bookstores, and hotel - Bank Rakyat Cikgu Sejati Credit Card-i product page”
• “NO Annual Fee. - Bank Rakyat Cikgu Sejati Credit Card-i product page, Additional Features”
• “Annual Income: RM24,000 above - Bank Rakyat Cikgu Sejati Credit Card-i product page, Eligibility”
• “Note: Bank Rakyat 8%.GOV.MY program ended on August 2024 - Bank Rakyat Cikgu Sejati Credit Card-i product page”

• Product page
• Schedule of charges