Public Islamic Bank BAE Personal Financing-i

Public Islamic Bank – BAE Personal Financing-i FAQ

What is the maximum amount you can borrow?

Borrowable amount of up to RM150,000 for a maximum financing tenure of 10 years.

The catch?

Applicant must be between the age of 20 to 58 to qualify.

Applicant must be an employee of:

\- Permanent employees of Federal, State Government (excluding state government of Sarawak), OR \- Selected Government agency or statutory body: MARA, LHDN, RISDA, TM Malaysia (TM) etc

Applicant must be earning a minimum gross salary of RM1,500 per month (for financing amount of RM100,000) or RM3,000 per month (for loan amount of RM150,000).

Takaful protection is compulsory.

What will it cost you and how will you be charged?

One time set-up fee:

Stamp duty of 0.5% on financing amount to be deducted upfront before disbursement. No other set-up fees need to be paid.

Recurring payments:

Monthly repayment comprising principal amount and interest charge via monthly deduction by employer.

For loan tenure of 2 to 3 years:

Fixed profit rate of 4.90% per annum (0.40% per month) throughout the entire financing tenure.

For loan tenure of 4 to 10 years:

Fixed profit rate of 4.95% per annum (0.41% per month) throughout the entire financing tenure.

Penalties:

No early or late payment charges imposed.

How long will the application take and what documentations are required?

Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.

Thereafter, Public Bank will require an average of seven business days (not including Saturdays, Sundays, and public holidays) before approval or disbursement.

You are required to furnish the following documents for your loan application:

Copy of NRIC (front and back) verified by employer

3 months (most current) original salary slips verified by employer

Confirmation Letter of Employment

A copy of BPA form

Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?

No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your loans on time for another three months before reapplying.

If you are looking for other personal loans, you may also consider

BSN AFLAH PRIMA Personal Financing-i

BSN AFLAH PRIMA Personal Financing-i has a flat interest rate starting from 6.50% p.a. The maximum tenure for this personal loan is 10 years. It also comes with a minimum income requirement of RM3,000.

Bank Islam Personal Financing-i (Package)

With Bank Islam Personal Financing-i (Package), the personal loan comes with an fixed interest rate starting from 4.9% p.a. This personal loan has a maximum tenure of 10 years. It also comes with a minimum income requirement of RM2,000.

RHB Islamic Bank Pensioner Personal Financing-i

RHB Islamic Bank Pensioner Personal Financing-i has a flat interest rate starting from 5% p.a. The maximum tenure for this personal loan is 10 years. It also comes with a minimum income requirement of RM0.