If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Car Loan BYTES FROM OUR KITCHEN

    Public Bank Car Loan

    Public Bank Car Loan is a vehicle finance package by Public Bank that provides the individuals with funds for purpose of vehicle purchase. The loan facility comes with a competitive interest rate range and high margin of financing. The loan scheme covers all kinds of new as well as used cars.


    You’re probably eligible for an Public Bank Car Loan if you are

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    BSN Bank Car Loan Minimum Age

    At least 18 years old

    BSN Bank Car Loan Maximum Age

    Less than 70 years old

    BSN Bank Car Loan Eligible Employment Type

    Salaried or self-employed with regular income

    BSN Bank Car Loan Minimum Income

    Earn more than the minimum income required


    Your Public Bank Car Loan amount eligibility is based on these factors

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    RHB Bank Car Loan Maximum Loan to Value

    Loan capped @ Up to 90% of the ex-showroom price

    RHB Bank Car Loan Installment

    Installments of other loans lower your eligibility


    Increase your eligible Public Bank Car Loan amount by these steps

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    RHB Bank Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    RHB Bank Car Loan Maximum Tenure

    Choose longer tenure loan up to 9 years


    Documentation needed to apply for Public Bank Car Loan

    • 1. Latest EA statement or salary slips for last 3 months
    • 2. Latest bonus slip or contractual bonus payment slips for 2 years
    • 3. Latest tax receipt or tax returns

    Public Bank Car Loan Interest RatesUpdated on 19 Oct 2018

    Public Bank Car Loan Details
    Margin of Finance Up to 90%
    Tenure 9 years
    Guarantor Requirement Required

    Interest/Profit Rates

    The interest rate associated with Public Bank Car Loan is mentioned in the table below:

    Tenure Base Rate Interest Rate
    Up to 9 years 3.52% p.a. (Base Rate + Spread)% p.a.

    Types of Car Loans

    The following tables contain the different loan plans available with Public Bank Car Loan:

    • Passenger Vehicle:
    Age of the Vehicle Maximum Tenure Available Maximum Margin of Financing of the Vehicle’s Price
    New vehicle Up to 9 years Up to 90%
    3 years Up to 9 years Up to 90%
    3 to 8 years Up to 7 years Up to 90%
    8 to 10 years Up to 6 years Up to 85%
    10 to 12 years Up to 3 years Up to 80%
    • Commercial Vehicle (with BDM < 5000 kg):
    Age of the Vehicle Maximum Tenure Available Maximum Margin of Financing
    New vehicle Up to 7 years Up to 85%
    Up to 8 years Up to 5 years Up to 80% ]
    • Commercial Vehicle (with BDM > 5000 kg):
    Age of the Vehicle BDM Maximum Tenure Available Maximum Margin of Financing
    New vehicle 5,000 to 10,000 kg Up to 5 years Up to 80%
    New vehicle 10,000 kg or more Up to 5 years Up to 75%
    Up to 5 years 5,000 to 10,000 kg Up to 4 years Up to 75%
    Up to 5 years 10,000 kg or more Up to 4 years Up to 70%

    Note: BDM = Berat Dengan Muatan (Kerb weight + maximum allowable payload)

    Features & Benefits

    The following are the features and benefits associated with Public Bank Car Loan:

    • The loan facility provides you with up to 90% margin of financing for the vehicle purchase.
    • The funds obtained with the Public Bank Car Loan come with a competitive interest rate.
    • You can enjoy a flexible repayment tenure of up to 9 years with Public Bank Car Loan.
    • The Public Bank Car Loan process is hassle-free and has a speedy approval.
    • You can make the repayments for the loan scheme through convenient payment channels or at any Public Bank branch.
    • The facility comes with motor insurance and road tax renewal.

    Eligibility Criteria

    The following are the eligibility criteria for Public Bank Car Loan:

    • Age Requirement: The minimum age required for the applicants to apply for the loan is 18 years.
    • Nationality Requirement: Only Malaysian citizens can apply for the loan.

    Documents Required

      Employed/Working Individuals:
      • Either the latest EA statement or salary slips for last 3 months
      • Latest bonus slip or contractual bonus payment slips for 2 years (wherever applicable)
      • Non-contractual bonus/ex-gratia for latest 3 years (wherever applicable)
      • One of the following:
        • Latest KWSP stylist or EPF statement not older than 12 months
        • New Customs and Excise tax receipt and tax returns
        • Account statement or passbook statement or savings/current account for last 3 months
        • Employment confirmation letter from the employer.
      Self-employed individuals:
      • Latest tax receipt or tax returns
      • Savings account statement/CASA statement

    How To Apply

    • Offline Application: In order to obtain funds via Public Bank Car Loan, you can apply for the loan at the nearest Public Bank’s branch. You need to fill the form with required details and submit the supporting documents along with it. You can also choose to reach the bank via the bank’s customer service numbers and put in your request for the loan.
    • Online Application: You can also opt to apply for the loan on Public Bank’s official website. All you have to do is fill up the application form available online with necessary details and upload the supporting documents in order to obtain the funds from the Public Bank Car Loan facility.

    Fees & Charges

    The fees and charges associated with Public Bank Car Loan are mentioned in the table below:

    Stamp Duty RM10.
    Issuance of letter of consent to JPJ on change of vehicle engine (For old vehicles) RM53.
    Issuance of letter of consent to JPJ on change of vehicle registration number (For old vehicles) RM53.
    Inter-branch inspection RM53 per inspection.
    Ownership. Registration, and handling charges RM53.
    Transfer of facility from original account holding branch to another nominated branch RM106.
    Issuance of duplicate letter of release of ownership claim RM106.

    Note: JPJ = Jabatan Pengangkutan Jalan (Road Transport Department Malaysia)

    FAQ's

    Q. What are the ways through which I can pay the loan amount back?

    A. You can make the repayment via online transfer, ATM transfer, by placing standing instructions, and at the Public Bank’s branch.

    Q. Can I get a 9 year repayment tenure on a 5 year old passenger vehicle?

    A. No. The maximum tenure available on a 5 year old passenger vehicle is 7 years.

    Q. How is the interest rate calculated?

    A. The interest rate depends upon the age of the vehicle, the tenure chosen and the loan amount applied for.

    Q. Is it allowed to make an early settlement on the loan amount?

    A. Yes. You can decide to settle the entire loan amount before the loan maturity

    Q. Is there a perk related to the early settlement of the loan amount with Public Bank Car Loan?

    A. Yes. You are entitled to a rebate on the unutilised loan amount over the unutilised tenure.

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