This financing facility is for those who want to buy or refinance a house. The financing tenure can go up to 35 years. Take a look at what this scheme has to offer.
|Type of Financing||Semi-flexi.|
|Interest Rate||Base rate + spread (current base rate (BR) is 3.77% p.a.).|
|Loan Tenure||Up to 35 years.|
|Processing Fee||Loan amount of RM30,000 or less: RM53. Loan amount of RM30,001 to RM100,00: RM106. Loan amount of RM100,000 and above: RM212.|
|Service Fee for Redraw Facility-i||RM53 per withdrawal.|
|Late Payment Charges||1% p.a. on the monthly arrears.|
|Disbursement Fee||Depends on the disbursed amount.|
|Application type||Documents Required|
Public Bank Home Equity Financing-i is one of the Home Equity financing schemes by Public Islamic Bank. You can enjoy the flexibility to repay the amount whenever you want. Go through the financing facility’s Product Disclosure Sheet and Terms and Conditions before applying for it.
Q. What is the Base Financing Rate for non-individuals?
A. The Base Financing Rate for non-individuals is 6.97% p.a.
Q. Do I need to take takaful coverage with this facility?
A. There are two takaful options available: Mortgage Reducing Term Takaful (MRTT) and Fire/House Holder/House Owner Takaful. You have the option to choose takaful options as per your need.
Q. Do I need a collateral with this facility?
A. You can opt for a guarantor or a collateral.
Q. What if my loan tenure extends after I retire?
A. You can advise the bank how you will be making the rest of the payments.
Q. What happens if the profit rate increases?
A. Under this facility, the profit rate is connected to the Base Financing Rate and the Base Rate. As increase in profit rates could result in higher monthly extension of the tenure.