Home Loan BYTES FROM OUR KITCHEN

Public Islamic Bank ABBA House Financing-i

Public Islamic Bank offers a series of home loan packages that are suitable for people from different income groups. The Public Islamic Bank ABBA House Financing-i offers flexible home loans with a long repayment tenure.

Loan Tenure Up to 35 years or up to an age of 70 years.
Loan Type Flexi.
Profit Rate Type Variable.

Features and Benefits

  • Pay a small amount every month as the repayment tenure is long and can go up to 35 years.
  • The financing works on a variable profit rate.
  • Refinancing facility is available for the loan.

Fees and Charges

Processing Fee
  • Loan amount within RM30,000—RM50.
  • Loan amount between RM30,000 and RM100,000—RM100.
  • Loan amount above RM100,000—RM200.
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.
Termination Fee (if cancelled before disbursement) RM2,000.
Half-yearly Service Fee on Cash Line-i facility RM10.

Documents Required

Salaried Employees
  • Latest 3-6 months’ payslips 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 last 6 months’ bank account statement.

How to Apply

Online Application
  • Log into your account on PBe.
  • Apply for the home loan facility.
  • Fill up the required details in the application form.
  • Submit the application online.
Offline Application
  • Visit the nearest branch.
  • Discuss the home loan scheme with the bank staff.
  • Fill up the application form.
  • Attach the supporting documents.
  • Submit the application to the staff.

Conclusion

Now that you know the details of the home loan scheme, you can go ahead and apply for the loan at the bank. Make sure to gather all the required documentation and provide them at the time of application. This will help the staff to process your application faster.

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