Public Bank Personal Loan

Public Bank like most other banks in Malaysia, deals with customers from retails, small to medium enterprises. If you are having some issue financially and in need of financial aid, you may look into the personal loans offered by Public Bank.

First and foremost, you need to be aware that there are two types of packages of personal loan being offered by Public Bank. Depending on your own needs, you can make a choice between these offers. Both of the loan packages are only available for Malaysians. The two packages are the BAE personal financing-I and PLUS BAE personal financing-I. The latter package is solely for customers of the bank with good record in repayment. 

It is very important to be familiar with the minimum or maximum amount of loan allowed as it varies from bank to bank. For Public Bank, its personal loan starts from RM5000 to RM150000 which is subject to change, while its minimum loan tenure is 2 years and maximum loan tenure is 10 years. You must take note that the repayment of the loan is very strict in which it is done by deducting the repayment amount from your monthly salary. Hence, your salary must exceed RM2000 in order to be qualified to apply for this loan.

Now, moving to the terms and conditions in applying for a personal loan with Public Bank. You have to be a Malaysian citizen aged between 26 to 60 years old if you are interested and intend to apply for personal loan with Public Bank. Not only this but you also must be fully employed with a stable income at the time of application and approval. Nevertheless, you can be self-employed with a good credit record. On top of what were mentioned, you must have at least one year of working experience with one of the approved lists of companies by Public Bank. What does it mean? Well, it simply means that the loan is only available for selected panel companies like the Petronas group, Telco and some other public listed companies. The interest rate for the personal loans offered starts at 6.5%. Some additional costs that incurred once your loan is approved are the processing fee of RM100, stamp duty of 0.5% of the loan amount and late penalty fee of 1% of amount in arrears payment mode.