Public Islamic Bank Personal Loan

About Public Islamic Bank

Public Islamic Bank is a subsidiary of Public Bank, founded in 1993. As one of the most prominent Islamic banks in Malaysia, Public Islamic bank has been offering various attractive and Shariah-compliant financial products and banking solutions that meet the needs of the consumers. It also boasts 264 branches nationwide.

What is a personal loan?

A personal loan is a financial transaction where a sum of money is borrowed for various purposes by individuals, organisations, or other entities to other persons, organisations, or entities. The borrower must repay the money they borrow over time, usually with interest. Personal loans may be subject to fees from some lenders.

What type of personal loan does Public Islamic Bank offer?

• BAE Personal Financing-i
• BAE AG Personal Financing-i
• PLUS BAE Personal Financing-i
• Solar Plus BAE Personal Financing-i

What are the eligibility to apply for Public Islamic Bank personal loans?

• BAE Personal Financing-i
• Malaysian citizen
• Between 20 to 60 years old
• Minimum monthly income of RM1,500
• A permanent staff at Public Islamic Bank-approved agencies (at least 3 months)
• BAE AG Personal Financing-i
• Malaysian citizen
• Between 20 to 58 years old
• Minimum monthly income of RM1,500 (federal and state government staff)
• Minimum monthly income of RM3,000 (non-federal and non-state government staff)
• A permanent staff at Public Islamic Bank-approved agencies for at least 1 year (federal and state government)
• A permanent staff at Public Islamic Bank-approved agencies for at least 2 years (non-federal and non-state government)
• PLUS BAE Personal Financing-i

You are eligible to apply for this loan if you are a Public Islamic Bank/ Public Bank’s existing customer with good payment habits.

• Solar Plus BAE Personal Financing-i

You are eligible to apply for this loan if you are a Public Islamic Bank/ Public Bank’s existing customer of Home Financing/ Housing Loan with good payment habits. The solar panel system must be purchased from Public Islamic Bank-approved companies.

What are the benefits I can enjoy from Public Islamic Bank personal loans?

• BAE Personal Financing-i
• Financing amounts from RM5,000 to RM150,000
• Option to repay your loan via salary deduction from employer
• Guarantors are not necessary
• BAE Personal Financing-i
• Financing amounts from RM5,000 to RM150,000
• Direct deduction to repay your loan via salary deduction from the employer through Biro Angkasa
• Guarantors are not necessary
• PLUS BAE Personal Financing-i
• Financing amounts from RM10,000 to RM150,000
• Up to 10 years of tenure
• Guarantors are not necessary
• Option to include group Takaful
• Competitive margin of financing
• Solar Plus BAE Personal Financing-i
• Financing amounts up to RM150,000
• Up to 10 years of tenure
• Option to include group Takaful
• Profit rates start from 2.00% p.a.
• Competitive margin of financing (up to 100%)

What are the documents required for Public Islamic Bank personal loans?

• For salaried employees, you are required to provide:
• Copy of latest 3-6 months’ salary slip, or
• Latest EPF statement, or
• Latest 1-year tax returns and tax receipts, or
• Latest 3-month savings/ current account statement/ passbook, and
• Employer confirmation letter, or
• Latest EA
• For self-employed customers, you are required to provide:
• Latest 1-year tax returns and tax receipts, or
• Copy of Business Registration Certificate, and
• Latest 3-6 months’ salary slip, or
• Latest EPF statement, or
• Latest 3-month Savings/ Current Account statement/ passbook

What are the charges included in Public Islamic Bank personal loans?

• Stamp duty: 0.5%
• Late payment fees: 1%

Who should I contact for further information about Public Islamic Bank personal loans?

• Contact Public Islamic Bank at +60321766000
• Email at islamicbkg@publicislamicbank.com.my

What are the common terms of personal loan?

• Per Annum (p.a.)

  The interest rate over one year with the assumption that interest is compounded annually.

• Tenure

  The period you must repay your loan.

• Principal

  Principal is commonly known as the loan amount you requested from the bank.

• Interest rate

  Principal is commonly known as the loan amount you requested from the bank.

• Instalment

  Instalment is the fixed amount you must repay your personal loan every month until the term expires.

• Penalty

  A fee that a bank will levy on your overdue amount if you are late with your repayment.

• Default

  The term used to describe a situation in which a personal loan is not paid off for more than three months.