KUALA LUMPUR: RHB Bank Bhd aims to open between 50 and 60 of its ‘Easy by RHB’ outlets that offer paperless application and instant approvals for loans and other products this year, said its group managing director Datuk Tajuddin Atan.

He said of the total planned outlets, 10 would be standalone outlets, while 20 would be in partnership with Tesco and the remaining with Pos Malaysia.

Speaking to reporters after the official launch of the Taman Sri Gombak Easy by RHB outlet, Tajuddin said the new community-banking concept would complement its existing retail market operations.

A second outlet was opened at Senawang, Negri Sembilan yesterday as well. Easy by RHB offers five products for a start, namely personal loans, deposit, insurance and loans for Amanah Saham Bumiputera (ASB) investment, as well as a debit card facility.

Each customer will also participate in a quarterly draw that offers attractive prizes.

To apply for the loans or to open a deposit account, an applicant needed to hold a MyKad and a clean credit record, and the paperless application and approval would take about 10 minutes, said Tajuddin.

“All transactions will be done using the MyKad, thumbprint and electronic signature. A lot of technology has gone into this to make it very customer-centric,” he said.

The maximum unsecured personal loan is RM50,000 while the limit is RM100,000 for a loan secured against ASB shares, he said.

For the personal loan, monthly repayment instalments start from RM50 while for the ASB loan, repayments start from as low as RM36 a month.

“RHB has about 8%-10% market share of the retail banking here. While we cannot say how much Easy by RHB will help increase our market share, it would be positive nevertheless.

“We want to go to places where we can focus on the mass segment and offer products that are easy to understand, relevant and attractive, while making the customers’ banking experience simple and convenient,” he said.

Tajuddin said the target market was those in the RM1,000 to RM5,000 salary bracket, adding that the segment comprised 70% of the working population.

“Of course, those in the higher income level too can apply for a loan, like the ASB investment loan,” he said.
Tajuddin said another added feature of the Easy by RHB outlet was its non-traditional banking operating hours of between 9am and 7pm daily at Sri Gombak and 10am-9pm in Senawang.