Public Islamic Bank HomeSave Financing-i

    Public Islamic Bank offers multiple home loan schemes to its retail customers based on Shariah-based principles. The Public Islamic Bank HomeSave Financing-i works on the Shariah principle of Musharakah Mutaniqisah or Bai Bithaman Ajil.

    Loan Type Flexible
    Profit Rate BR + 0.83% p.a.

    Note: BR stands for Base Rate. The value of Base Rate is set to 3.77% as updated by the bank effective from 30 January 2018.

    Features and Benefits

    • Home financing is connected to a Wadiah Current Account-i for easy payments.
    • The credit balance in the current account-i will be used to reduce the outstanding balance.
    • Flexible payments as per the deposit made in the current account-i.
    • Freedom to withdraw funds from the current account-i any time.
    • Daily profit calculation helps to save much on the profit side.

    Fees and Charges

    Stamp Duty
    • Stamping on Letter of Offer: RM10.
    • Stamping on Standing Instruction: RM10.
    • Stamping on each subsidiary document: RM10.
    • Stamping on Principal Agreement: RM5 per RM1,000 of the loan amount.
    Processing Fee
    • Loan amount within RM30,000: RM50.
    • Loan amount between RM30,000 and RM100,000: RM100.
    • Loan amount above RM100,000: RM200.
    Termination Fee (if cancelled before disbursement) RM2,000.
    One-Time Set-up Fee RM200.
    Monthly Maintenance Fee RM10.
    Request for Redemption RM50 per request.

    Documents Required

    Salaried Employees
    • Latest 3-6 months’ pay slips or EA statement.
    • Latest EPF statement dated not more than a year ago, or latest tax payment receipt, or employment letter, or latest 3 months’ bank account statement.
    • Last 2 years’ contractual bonus payment slips (if applicable).
    • Last 3 years’ non-contractual bonus payment slips (if applicable).
    Self-employed Individuals
    • Latest tax payment receipt or latest 6 months’ bank account statement.

    How to Apply

    Online Method
    • Log into your account on PBe.
    • Apply for the home loan facility.
    • Fill up your personal and financial details.
    • Submit the application online.
    Offline Method
    • Visit the nearest branch.
    • Discuss the home loan product with the staff.
    • Fill up the application form.
    • Attach the required documents.
    • Submit the application to the staff.

    Make flexible payments for your home financing with the Public Bank HomeSave Financing-i scheme. The daily profit calculation saves you money, as you don’t need to pay the profit for the remaining days of the month. Read the fine print of the financing facility to make sure how the facility works.


    Q. What are the available methods to make payments to my loan?

    A. You can make payments via one of the available channels, such as bank branches, PBe, and ATMs.

    Q. How does the Musharakah Mutanaqisah principle work?

    A. Under the Musharakah Mutanaqisah principle, you will acquire the property jointly with the bank and own it. You, being a tenant and an owner, will promise to periodically acquire the bank’s ownership of the property.

    Q. What is the effective financing rate applicable to the scheme?

    A. Though effective financing rate may vary, the indicative effective financing rate is 4.60% p.a. The indicative rate considers a loan tenure of 30 years for an amount of RM350,000 without a lock-in period.

    Q. Do I have to make fixed monthly repayments by the due date?

    A. Yes. You have to make the fixed repayments by the due date every month. The PIB HomeSave Financing-i allows you to pay any extra amount at any time based on your convenience and withdraw whenever required.

    Q. Is it required to maintain a minimum balance in the current account-i?

    A. Yes. You have to maintain a minimum balance of RM10,000 in the Wadiah Current Account-i.

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