• Public Islamic Bank Home Loan

    Public Islamic Bank Home Loan

    The most attractive financing package offered by the Public Islamic Bank Malaysia Home Loan is their premium Home Loans which has made it possible for any individual to own a home. With the longest tenure of loan and highest margin of finance available, these home loans are ideal to purchase a property without putting an end to the life’s savings.


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

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    Public Islamic Bank Home Loan Minimum Age

    At least 21 years old

    Public Islamic Bank Home Loan Maximum Age

    Less than 70 years old

    Public Islamic Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Public Islamic Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Public Islamic Bank Home Loan amount eligibility is based on these factors

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    Public Islamic Bank Home Loan Minimum Salary

    Instalment limited to about 50%
    of monthly income

    Public Islamic Bank Home Loan Maximum Loan to property value

    Loan capped @ Up to 90% + 10% MRTA

    Public Islamic Bank Home Loan EMI

    Instalments of other loans lower
    your eligibility


    Increase your eligible Public Islamic Bank Home Loan amount by these steps

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    Public Islamic Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Public Islamic Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 35 years

    Public Islamic Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Public Islamic Bank Home Loan

    • 1. Identity Card.
    • 2. Copy of Individual Title Deed.
    • 3. Documentation for salaried applicants:
      • Latest 3 months pay slips or Latest EA Statement
      • EPF Statement (latest not more than 1 year)
      • Tax Returns / Tax Receipts (latest)
      • Employment Letter/Employer Confirmation
    • 4. Documentation for self-employed applicants:
      • Latest 1 year Tax Returns / Tax Receipts
      • Latest 6 months Current Account Statement

    Public Islamic Bank Home Loan Interest RatesUpdated on 05 Dec 2016

    Public Islamic Bank Home Loan Details
    Margin of Finance Up to 90% + 10% MRTA
    Tenor 35 years
    Guarantor Requirement No Guarantee Required

    Public Islamic Housing Loan in Malaysia

    In Malaysia, keeping up with modern trends, the bank offers online services which customers can use to access all bank products and services from the comfort of their home, without going to a branch. Interested customers can submit their contact details on the official website of the bank and they will be contacted by bank officials soon thereafter.

    Types of Packages - Public Islamic Bank Home Loan

    There are three different home financing plans available right now:

    Home/Term Equity Financing-i Plan:

    This plan is based on the Shariah concept of Musharakah Mutanaqisah also known as the Diminishing Partnership where the bank enters into a joint agreement of house ownership with the customer and the customer pays the monthly installments. Upon the completion of the installments, the ownership of the house is transferred to the customer. Any completed as well as under-construction property can be considered for this house financing loan. Any individual or joint holder is eligible to apply for this loan which comes with flexible payments. Moreover, customers are free to redraw the amount of loan from their Public Islamic Bank savings or currents account.

    ABBA Financing-i Plan:

    The ABBA Financing-i house loan offers variable rates of financing to facilitate the purchase of completed and under construction property. The loan tenure available is upto 40 years or till the age of 70; whichever is earlier. There are no processing fees or any hidden costs associated with the loan.

    HomeSave-i Package:

    This is a fully flexible home loan which allows the customers to link their current account with the loan sum which leads the credit balance in the account to reduce the total outstanding sum. The higher the amount customer deposits as the loan installment, the lesser the amount of interest paid.

    Features and Benefits of Public Islamic Bank Home Loan

    The major features and benefits of home loans from Islamic Bank include:

    • The customers can apply for the loans regardless of their nationality and religion.
    • The tenure of the loans available is up to 40 years or till the age of 70 years; whichever is earlier. The rate of finance margin available is up to 90% including Mortgage Reducing Term Takaful (MRTT).
    • Any individual looking to purchase property, renovation/ refurbishing or refinancing can seek the Public Islamic Bank Home Loan packages which are specifically designed for these purposes.
    • Public Islamic Bank provides overdraft facilities it’s home loans users.

    Public Islamic Bank Home Loan Interest Rates

    The home loan borrower may make extra monthly repayments helps deduct from the interest rate that is being charged on the outstanding loan amount for each every month therefore reducing overall interest incurred for the home loan with the help of Flexi home financing packages. The requirements, fees and conditions of these flexi home loan packages should be considered alongside their benefits.

    How To Apply For a Public Islamic Bank Home Loan

    Documentation Required:

    1. Identity Card.
    2. Copy of Individual Title Deed.
    3. Documentation for salaried applicants:
      • Latest 3 months pay slips or Latest EA Statement
      • EPF Statement (latest not more than 1 year)
      • Tax Returns / Tax Receipts (latest)
      • Employment Letter/Employer Confirmation
    4. Documentation for self-employed applicants:
      • Latest 1 year Tax Returns / Tax Receipts
      • Latest 6 months Current Account Statement

    How to Calculate Loan Installment for Public Islamic Bank Home Loan?

    The online home loan installment calculator hosted at bbazaar.my lets you know how much amount you would need to shell out from your pocket each month towards loan repayment. Knowing your installment amount in advance has several advantages that help you plan your savings in a better and more effective way. This online tool takes in some important data points related to your home loan to calculate the corresponding installment on your Public Islamic Bank personal loan. These parameters are –

    • Desired loan amount
    • Preferred loan tenure
    • Applicable profit rate
    • Corresponding processing fee

    The use of this online tool helps in choosing the most apt loan amount and tenure as well as the most suitable bank for availing your home finance.

    FAQs on Public Islamic Bank Home Loan

    1. What documents are required to be submitted to apply for the Public Islamic Bank Home Loan?

      The customers are required to submit an application form along with a copy of ID/Passport, salary slips of last 3 months, bank statements of last 6 months, latest EA statement, tax returns of latest preceding year, a copy of Employer confirmation, etc.

    2. What are the methods available to repay the Home Loan Installments?

      The bank has kept their payment policy as simple as possible and customers are allowed to pay the installments by any of the following means; cash deposit, cheques, online banking transfer, standing instruction and phone banking.

    3. What is minimal eligibility criteria for loan application?

      You can apply as an Individual apply joint as long as people involved are over the age of 21.

    4. Are there any provisions for online transfers in repayment of the loan amount?

      The bank allows the borrowers to transfer funds from their savings or checking accounts in the bank to make online payments.

    5. Is their provision for automated payments of home loan repayments?

      Yes, there is a provision for Automatic monthly deduction from your bank account throughout your payment tenure.

    Other Products offered by Public Islamic Bank:

    Apart from offering Home Loan,Public Islamic Bank offers other products and services which include:

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