The Public Bank housing loan products offered by Public Bank include the 5 Home Plan, which gives you the option to choose from a fixed, flexi and graduate loan repayment and the MORE Plan, which is optimised for property refinancing.
The 5 Home Plan gives borrowers the flexibility of choosing fixed or floating rate pricing. There is also a graduate home loan option, which allows interest only payments for the initial loan period in order to maximise affordability. An Islamic loan plan is available under Public Bank housing loan which enable you to enjoy fixed profit rates that are not subject to fluctuation in BLR. Public Bank Home Loans have a lock in period of 3 years, during which borrowers will need to pay a 2% early settlement fee if they decide to refinance or sell their property. The early settlement penalty will be based on the outstanding loan.
There are several benefits that you will gain when you sign up to this exclusive Public Bank housing loan product. Firstly, you can save even more as interest rates are calculated on daily basis. Via Public Bank housing loan, you are entitled to credit cards with Exclusive Annual Fee waiver for the entire loan tenure for eligible customers. You can also opt for redraw facility when you sign up to this particular Public Bank housing loan.
Each of Public Bank’s home loan plans offer a zero entry cost option. The margin of financing for Public Bank Home loans can go up to 100% inclusive of legal fee, stamp duty and MRTA (Mortgage Term Reducing Assurance) financing. Home loans are available for a tenure of up to 35 years, or until the borrower reaches 70 years of age. Purchase of Mortgage Reducing Term Assurance (MRTA) and Personal Accident Insurance (PA) is compulsory.
Public Bank has an exclusive tool namely Public Bank home loan calculator for you to estimate your monthly repayment. So how to use this Public Bank home loan calculator? Just log on to brand new Public Bank official website and search for the Public Bank housing loan calculator. Then just insert the costs of the house, your monthly income and your desired loan tenure into the exclusive Public Bank housing loan calculator; then you will find out how much you could borrow and how much you need to pay every month. That’s how the Public Bank mortgage calculator works.
Public Bank offers a variety of home loan packages that suit different purchase types. The 5 Home Plan and the MORE Plan’s details are in the table below
|Product||Key Features||Is this a flexi package?|
|5 Home Plan||
||Yes, full flexi|
Flexi home packages allow borrowers to make extra repayments every month in order to reduce their monthly interest charges. These packages come with requirements, fees and conditions that should be considered alongside their benefits.
|5 Home Plan||MORE Plan|
|Is a linked bank account required?||No||No|
|Account Maintenance Fees||No||No|
Only individuals over 21 years of age may apply for a Public Bank home loan.
If you have applied for a Public Bank Home Loan, you will be asked to provide some supporting documents in order for the bank to process your application. These documents are listed below:
You can use the Public Bank home loan calculator to calculate your monthly repayments, based on your desired property value and loan amount. Once you are ready to apply, you can make a free enquiry through iMoney, and we will call you back. Applying for a home loan with iMoney is absolutely free of charge. If you are not sure whether this home loan by Public Bank is your best option, click here to compare other home loans in Malaysia.
Public Bank has a wide branch network spanning the whole Malaysia. Outside of branch banking, there are other more convenient methods of payment as well.