Public Bank BAE Personal Financing-i scheme is a facility offered to provide borrowers with the monetary assistance they seek. The scheme is available with flexible tenure options and competitive rates.
The profit rate depends upon the Total Amount Financed by the bank and the chosen tenure of financing.
The rebate will be calculated as per the following formula:
Ibra at settlement= Deferred profit - Early settlement charges - Reduction of Ibra
Given below are the fees and charges that need to be paid by a customer for the Public Bank BAE Personal Financing-i:
|Fee type||Fee details|
|Stamp Duty on Asset Sale Agreement||Ad valorem (To Value)|
|Stamp Duty on the Letter of Offer||RM10.00 each (not subject to the GST)|
|Insurance (optional)||Depends upon age, amount loaned and income|
|Early Settlement Fee||As per the bank’s discretion|
|Late Payment Fee||1% p.a. of the unsettled amount|
Following eligibility criteria are needed to be followed by an applicant:
Following documents are mandatory for an applicant while applying for the personal loan:
Offline Application: An applicant can go to the nearest Public Bank branch and apply for the BAE Personal Financing-i scheme. The application form must be filled and submitted along with the supporting documents.
Online Application: An applicant can access the application form on the official website of the Public Bank. He/she can fill the form on the site and then complete the further procedure and submit the required documents as instructed on the website.
Q. What is Ta’widh and Gharamah?
A. While calculating the Compensation Charges, the Combined Rate consists of two elements which are called as Ta’widh and Gharamah. Ta’widh indicates to the sum which needs to be compensated to the Bank based on actual loss happened due to default while gharamah refers to the penalty charged on the defaulter customers over and above the ta’widh.
Q. Is providing the Health Declaration Form mandatory while acquiring the Public Bank BAE Personal Financing-i?
A. Every applicant needs to provide a Health Declaration Form while applying for the Public Bank BAE Personal Financing-i. Those who declare illness or inability in the form are requested to present a guarantor while applying for the loan.
Q. I need a personal financing of RM4,000. Can I get this amount of loan through the scheme?
A. You can obtain a minimum of RM5,000 through the Public Bank BAE Personal Financing-i scheme.
Q. How can I get in touch with the Customer Service Department of the bank?
A. You can reach to the customer care officials by calling on 1 800 22 5555 or you can also send an email on [email protected] and communicate your queries.
Q. Will the bank inform me before setting off my personal financing dues from my account with the bank?
A. The bank has the right to set-off the monthly personal loan dues by debiting from your current/saving account maintained with the bank at any time without any prior notice.